Nortech Systems, Inc. (NSYS) Posts Smaller Q2 Loss on Higher Revs

Nortech Systems, Inc. (NASDAQ: NSYS) reported Q2 EPS of ($0.07), versus ($0.14) reported last year. Revenue for the quarter came in at $28.9 million, versus $26.8 million reported last year.

“The revenue improvement in the second quarter was led by medical sales, up 40 percent year over year,” said Rich Wasielewski, Nortech Systems’ president and CEO. “Our strategic investment in engineering services helped our medical backlog increase 28 percent during the second quarter, which bodes well for continued future growth.”

Wasielewski cited ongoing volatility among Nortech Systems’ industrial customers, with transportation, semiconductor and process control sectors experiencing economic headwinds throughout the first half of the year; those conditions are expected to persist this year. Quarterly defense sales improved, increasing 20 percent year over year amid signs of industry stabilization.

“Our overall backlog increased 12 percent during the second quarter and we’re beginning to see early signs that our growth and cost initiatives are taking hold,” Wasielewski explained. “Compared to a year ago, we’re in a better position heading into the second half of the year.”

For earnings history and earnings-related data on Nortech Systems, Inc. (NSYS) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Outlook Therapeutics (OTLK) Misses Q3 EPS by 9c
• SanDisk upgraded at JPMorgan after investor day; shares climb