MINNEAPOLIS – EMS provider Nortech Systems Inc. reported net sales of $21.6 million for the first quarter, down 30.8% year-over-year.
Operating loss for the first quarter was $2.1 million, compared with operating income of $1.2 million for the first quarter of 2008.
The firm reported a net loss of $1.3 million, compared with net income of $626,000 the previous year.
“We continued to experience a weakening in customer demand during the quarter, with order delays or cancellations as customers worked off existing inventory and adjusted to the current business environment,” said Mike Degen, Nortech’s president and CEO.
The company’s goal is to turn a quarterly profit by year-end.