MINNEAPOLIS -- Nortech Systems Inc. reported net sales of $20.4 million for the fourth quarter ended Dec. 31, a 30% increase over last year. Net income was $202,857, versus a net loss of $155,541.

For the fiscal year, net sales at the EMS provider were up 25% to $72.7 million. Net income for year was $587,329, beating guidance, versus $633,448.

"We are very pleased with these record-setting revenue levels for Nortech in the fourth quarter and for the entire year," said Mike Degen, president and CEO. "We will use this opportunity to leverage these strong results to expand our customer base and continue to invest in the Nortech brand and our infrastructure."

Throughout the year margin pressure was strong due to higher energy costs, increased commodity prices and international competition.

Nortech guided for fiscal 2005 revenues to increase 8 to 10%, to $78 million to $80 million. Earnings per diluted share for 2005 are expected to be 30 to 35 cents.

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