MAPLE GROVE, MN – Nortech Systems today reported net sales of $26.8 million for the second quarter ended June 30, down 2.2% year-over-year.

For the quarter, the electronics manufacturer reported a net loss of $378,000, compared with net income of $247,000 for the same period last year.

For the six-month period ended June 30, Nortech’s net sales were $53.3 million, a decrease of 0.56% compared to the same period in 2014. A net loss for the period was $571,000, compared to net income of $333,000 for the same six months last year.

“Our performance and results varied across markets and customers,” said Rich Wasielewski, Nortech Systems’ president and CEO.
“However, we’re seeing signs of improvement, including our backlog rising 6% during the second quarter.”

Second quarter results were impacted by a less profitable sales mix, ramp-up costs on new programs and expenses to support growth initiatives, the firm says. These initiatives included adding printed circuit board assembly capabilities to Nortech’s Mexico facility and expansion into China. Challenging external factors included slowdowns with several large customers tied to the global economic volatility and the oil and gas industry.

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