MINNEAPOLIS -- Nortech Systems today said third-quarter net sales rose 7% from a year ago to $31.7 million, boosted by strength in the aerospace sector.
For the period ended Sept. 30, net income was $499,261, jumping 19% year-over-year.
Year-to-date net sales are up 7% to $94.9 million, while operating income is 31% higher ($3.3 million), and net income has increased 56% to $1.7 million.
“We’re pleased with
our third-quarter results in the face of the overall macroeconomic
conditions and pricing pressures with select commodities,”
said Mike Degen, Nortech’s president and CEO.
Aerospace Systems
product line finished the quarter strong, ramping some new customer programs and changing over others.