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Last $4.15 USD
Change Today -0.0619 / -1.47%
Volume 500.0
NSYS On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 12:59 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

nortech systems inc (NSYS) Key Developments

Nortech Systems Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Nortech Systems Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of $26,801,473 against $27,408,467 a year ago. Loss from operations was $483,360 against income from operations of $347,177 a year ago. Loss before income taxes was $595,362,000 against income before income taxes of $231,701 a year ago. Net loss was $378,362 against net income of $246,701 a year ago. Basic and diluted net loss per share was $0.14 against basic and diluted net income per share of $0.09 a year ago. Second quarter results were impacted by a less profitable sales mix, ramp-up costs on new programs and expenses to support growth initiatives. For the six months, the company reported net sales of $53,341,095 against $53,557,609 a year ago. Loss from operations was $684,961 against income from operations of $583,398 a year ago. Loss before income taxes was $892,149,000 against income before income taxes of $367,858 a year ago. Net loss was $571,149 against net income of $332,858 a year ago. Basic and diluted net loss per share was $0.21 against basic and diluted net income per share of $0.12 a year ago.

Nortech Systems Inc. to Report Q2, 2015 Results on Aug 05, 2015

Nortech Systems Inc. announced that they will report Q2, 2015 results at 8:03 PM, GMT Standard Time on Aug 05, 2015

Nortech Systems Inc., Q2 2015 Earnings Call, Aug 06, 2015

Nortech Systems Inc., Q2 2015 Earnings Call, Aug 06, 2015

Nortech Systems Inc. Amends and Restates its Credit Agreement with Wells Fargo Bank, National Association

Nortech Systems Incorporated entered into the Seventh Amendment to its Third Amended and Restated Credit Agreement with Wells Fargo Bank, National Association (the “Amended Credit Agreement”).  The Seventh Amendment provides for a $15.0 million line of credit through May 31, 2018, which is a $1.5 million increase from the existing line of credit under the Amended Credit Agreement.  The Seventh Amendment also provides a new equipment term note in the amount of approximately $1.0 million, which is in addition to the existing equipment term notes outstanding under the Amended Credit Agreement in the aggregate amount of approximately $2.7 million, all of which equipment term notes having a maturity date of May 31, 2018.  In addition, the Seventh Amendment provides for a new term loan of up to $1.0 million for capital expenditures to be made prior to May 31, 2018 with a maturity date of May 31, 2018.  The Seventh Amendment did not amend any terms of the two real estate term loans outstanding in an aggregate amount of approximately $3.5 million under the existing Amended Credit Agreement.

Nortech Systems Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Nortech Systems Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. The company reported net sales of $26.5 million for the first quarter ended March 31, 2015, compared with $26.1 million in the first quarter of 2014. The company reported an operating loss was $202,000 compared with operating income of $236,000 for the same period in 2014. The net loss was $193,000, or $0.07 per diluted common share compared to net income of $86,000, or $0.03 per diluted common share, for the first quarter of 2014. After finishing 2014 strong, first-quarter profitability was impacted by a number of factors. These included product mix, ramp-up costs for new programs and global economic conditions. Loss before income taxes was $296,787 compared with income before income taxes of $136,157 for the same period in 2014.

 

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