Nortech Systems, Inc. (NSYS) Reports Q4 Loss of $0.90/Share
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Nortech Systems Reports 2017 Results
March 27, 2018 5:19 PM EDTMINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), reported net sales of $112.3 million for the year ended December 31, 2017, compared with $116.6 million for fiscal 2016.
The reported fiscal 2017 loss from operations was $1.3 million and includes a year-end goodwill impairment charge of $0.9 million; this compares with operating income of $0.6 million for fiscal 2016. The net loss for fiscal 2017 was $2.4 million, or $0.89 per diluted common share, including $1.4 million of unfavorable impact from tax reform and discrete tax-related adjustments. This compares with net income of $44,000, or $0.02 per diluted common share, for... More
