MINNEAPOLIS -- Nortech Systems today reported net income for its first quarter of to $86,000, down 39% from last year, when the EMS firm received a tax benefit of $70,000. Without the credit, net income was up 21.1%.

Net sales were up $200,000 in the period ended March 31 to $25.1 million. Income from operations was $236,000, compared with $224,000 in 2013.

“We’re pleased to see our pretax profits rise 13% on a slight sales increase,” said Rich Wasielewski, Nortech Systems’ president and CEO. “While the mixed economic recovery is impacting each of our customers differently, we continue focusing on improving our operating performance by managing the areas under our control and actively working on building a qualified sales pipeline.”

The company's 90-day backlog rose 6% during the quarter.

• Prev
• Next