NORTECH SYSTEMS INC

Listed Company

NSYSCIK 0000722313NasdaqNon-AcceleratedSmaller ReportingElectronic Components, NecMinnesotaFY ends Dec 31

Period

FY 2025

Revenue

$118.36M

Net Income

$-252.0K

Total Assets

$71.92M

Equity

$34.55M

Shares Out

2.79M

Op. Cash Flow

$2.74M

NSYS$14.05+59.84% · past yearDBEQ Basic

Daily closing prices

Business

Nortech Systems Incorporated is a contract manufacturer and engineering-services provider specializing in complex electromedical devices, electromechanical systems, assemblies, and components for OEM customers. The company offers design, prototyping, manufacturing, testing, supply-chain management, and post-market support across medical device, medical imaging, aerospace & defense, and industrial markets. Operations span facilities in Minnesota, Mexico, and China, with a majority of net sales derived from medical-related markets. The company serves low-to-moderate-volume, high-mix customer demand and operates as a single contract-manufacturing segment within the electronic manufacturing services (EMS) industry.

Summary from 10-K filed 2026-03-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	118	128	139	134	115
Cost of goods sold	100	111	116	114	99
Gross profit	18	17	23	20	16
Selling	5	3	4	4	2
General and administrative	11	12	12	11	10
Research and development	1	1	1	1	483,000
Restructuring charges	266,000	571,000	—	0	327,000
Total operating expenses	17	17	17	17	14
Income (loss) from operations	975,000	−195,000	6	4	2
Interest expense	−964,000	−744,000	−487,000	—	—
Income (loss) before income taxes	11,000	−939,000	5	3	8
Income tax expense	263,000	356,000	−1	1	859,000
Net loss	−252,000	−1	7	2	7
Basic (in dollars per share)	−0.09	−0.47	2.53	0.75	2.68
Weighted average number of common shares outstanding - basic (in shares)	3	3	3	3	3
Diluted (in dollars per share)	−0.09	−0.47	2.38	0.7	2.54
Weighted average number of common shares outstanding diluted (in shares)	3	3	3	3	3
Foreign currency translation	268,000	−445,000	−162,000	−426,000	93,000
Comprehensive income (loss), net of tax	16,000	−2	7	2	7

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	2	916,000	—	—	—
Accounts receivable, less allowances of $161 and $196, respectively	17	15	19	16	15
Inventories, net	21	22	22	22	19
Contract assets	15	14	14	10	9
Prepaid assets and other assets	2	4	2	1	2
Total current assets	56	55	59	55	52
Property and equipment, net	5	6	7	6	6
Operating lease assets	7	8	7	8	9
Deferred tax assets	3	3	3	0	—
Other intangible assets, net	156,000	174,000	263,000	422,000	—
Total assets	72	72	75	70	67
Line of credit	7	—	—	—	—
Accounts payable	13	12	16	15	13
Accrued payroll and commissions	2	2	4	5	4
Customer deposits	5	5	4	4	—
Current portion of operating leases	1	1	1	1	1
Current portion of finance lease obligations	274,000	143,000	356,000	390,000	601,000
Other accrued liabilities	1	2	1	2	4
Total current liabilities	30	21	27	26	22
Long-term line of credit	—	9	6	7	9
Long-term operating lease obligations, net of current portion	6	8	7	8	9
Long-term finance lease obligations, net of current portion	626,000	311,000	209,000	565,000	916,000
Other long-term liabilities	426,000	284,000	414,000	95,000	104,000
Total long-term liabilities	8	17	13	15	19
Total liabilities	37	38	40	41	41
Preferred stock, $1 par value; 1,000,000 shares authorized; 250,000 shares issued and outstanding	250,000	250,000	250,000	250,000	250,000
Common stock - $0.01 par value; 9,000,000 shares authorized; 2,786,134 and 2,760,793 shares issued and outstanding, respectively	28,000	28,000	27,000	27,000	27,000
Additional paid-in capital	18	17	17	16	16
Accumulated other comprehensive loss	−709,000	−977,000	−532,000	−370,000	56,000
Retained earnings	17	17	19	12	10
Total shareholders equity	35	34	35	28	26
Total liabilities and shareholders equity	72	72	75	70	67

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	1	2	2	2	2
Amortization	18,000	89,000	159,000	150,000	176,000
Compensation on stock-based awards	503,000	461,000	423,000	334,000	111,000
Deferred taxes	−558,000	−12,000	−2	0	—
Change in accounts receivable allowance	−35,000	−162,000	24,000	—	—
Change in inventory reserves	401,000	280,000	26,000	−149,000	−860,000
Gain on disposal of property and equipment	—	−23,000	—	−15,000	−141,000
Accounts receivable	−2	4	−3	−2	1
Inventories	485,000	−400,000	716,000	−3	−5
Contract assets	−1	689,000	−5	−1	−3
Prepaid expenses and other assets	2	−2	—	—	—
Income taxes	−29,000	−333,000	−832,000	—	—
Accounts payable	1	−4	483,000	2	1
Accrued payroll and commissions	−30,000	−2	−661,000	783,000	1
Customer deposits	244,000	1	553,000	550,000	—
Other accrued liabilities	242,000	−375,000	−82,000	301,000	1
Net cash provided by (used in) operating activities	3	−2	2	5	−5
Proceeds from sale of property and equipment	504,000	7,000	—	15,000	626,000
Purchases of property and equipment	−661,000	−1	−1	−2	−1
Net cash used in investing activities	−157,000	−1	−1	−2	−730,000
Proceeds from line of credit	102	130	125	119	110
Payments to line of credit	−103	−127	−126	−121	−104
Proceeds from notes payable	—	345,000	—	—	—
Principal payments on financing leases	−195,000	−367,000	−390,000	−599,000	−664,000
Share repurchases	—	−100,000	—	—	—
Stock award exercises	23,000	38,000	159,000	51,000	35,000
Net cash (used in) provided by financing activities	−2	3	−1	−3	4
Effect of exchange rate changes on cash	20,000	−11,000	−10,000	−53,000	0
Net change in cash	739,000	−759,000	−806,000	256,000	−1
Cash paid for interest	925,000	764,000	503,000	476,000	316,000
Cash paid for income taxes	751,000	473,000	2	237,000	−114,000
Property and equipment purchases in accounts payable	81,000	254,000	680,000	14,000	35,000
Property acquired under operating leases	—	2	261,000	44,000	1
Equipment acquired under finance leases	637,000	256,000	—	—	—

Filings

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Frequently asked questions

What is NORTECH SYSTEMS INC's CIK number?

NORTECH SYSTEMS INC's SEC CIK number is 0000722313 (722313). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find NORTECH SYSTEMS INC's SEC filings?

All of NORTECH SYSTEMS INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did NORTECH SYSTEMS INC last report earnings?

NORTECH SYSTEMS INC (NSYS) most recently filed an earnings 8-K with the SEC on May 13, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001493152-26-022756). This is NORTECH SYSTEMS INC's most recent earnings filing of record — not a forecast of its next earnings date.

What is NORTECH SYSTEMS INC's most recent earnings 8-K?

NORTECH SYSTEMS INC's latest earnings 8-K (Item 2.02) was filed May 13, 2026 under accession 0001493152-26-022756. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View NORTECH SYSTEMS INC's latest earnings 8-K →
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