Sector: Technology | Industry: Semiconductors |
See Regulatory Filings on SEC |
Company Contact | |
Address: | Suite 150, 7550 Meridian Circle N MAPLE GROVE MN 55369 |
Tel: | N/A |
Website: | https://www.nortechsys.com |
IR: | See website |
Key People | ||
David B. Kunin Chairman of the Board | Jay D. Miller President, Chief Executive Officer, Director | Andrew D. C. Lafrence Chief Financial Officer, Senior Vice President - Finance | John Lindeen Senior Vice President - Global Operations |
Business Overview |
Nortech Systems, Inc. is a provider of design and manufacturing solutions for complex electromedical devices, electromechanical systems, assemblies, and components. The Company's design services span concept development to commercial design, and include medical device, software, electrical, mechanical, and biomedical engineering. It offers a range of value-added engineering, technical and manufacturing services and support, including project management, designing, testing, prototyping, manufacturing, supply chain management and post-market services. Its manufacturing and engineering services include complete medical devices, printed circuit board assemblies, wire and cable assemblies, and complex higher-level electromechanical assemblies. All of its operations fall under the Contract Manufacturing segment within the Electronic Manufacturing Services (EMS) industry. Its customers are original equipment manufacturers (OEMs) in the medical, aerospace and defense, and industrial markets. |
Financial Overview |
For the fiscal year ended 31 December 2023, Nortech Systems Inc revenues increased 4% to $139.3M. Net income increased from $2M to $6.9M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Research and Development Expenses decrease of 18% to $1.2M (expense), Selling expenses decrease of 3% to $3.6M (expense). |
Employees: | 733 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $53.08M as of Dec 31, 2023 |
Annual revenue (TTM): | $139.33M as of Dec 31, 2023 |
EBITDA (TTM): | $8.00M as of Dec 31, 2023 |
Net annual income (TTM): | $6.87M as of Dec 31, 2023 |
Free cash flow (TTM): | $0.49M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $5.42M as of Dec 31, 2023 |
Shares outstanding: | 2,740,177 as of Mar 21, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |