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Nortech Systems Reports Third Quarter Results

NSYS
  • Nortech Systems reported Q3 2025 net sales of $30.5 million, a 2.9% decrease compared to $31.4 million in Q3 2024.
  • The company recorded a net loss of $146 thousand ($0.05 per share) for Q3 2025, an improvement from the $739 thousand loss ($0.27 per share) in Q3 2024.
  • Adjusted EBITDA for Q3 2025 reached $1.3 million, a significant increase from $0.1 million in the same period of 2024.
  • The 90-day backlog as of September 30, 2025, was $31.3 million, up from $29.6 million at the end of September 2024.
  • Management attributed improved results to restructuring efforts, cost discipline, & increased manufacturing efficiencies from shifting to recurring production.
  • The Monterrey, Mexico facility recently achieved AS9100:D certification, enhancing capabilities for aerospace & defense clients.
  • For the nine months ended September 30, 2025, net sales totaled $88.1 million, down 11.5% from $99.5 million in the prior year period.
  • Gross profit for Q3 2025 increased by 31.0% to $5.0 million, while gross margin for the nine-month period fell to 14.7% from 14.0% in the prior year.
  • Operating expenses for Q3 2025 decreased 5.2% to $4.1 million, primarily due to reduced restructuring charges.
  • The company held a conference call on November 13, 2025, to discuss results, hosted by CEO Jay D. Miller & CFO Andrew D. C. LaFrence.
  • Cash reserves at September 30, 2025, were $1.3 million, with a current line of credit balance of $12.0 million.
  • Total assets as of September 30, 2025, stood at $74.8 million, while total liabilities increased to $41.4 million.
  • The company continues to navigate nearshoring advantages with its North American & Asian footprint amidst potential tariff environment changes.