MINNEAPOLIS, Nov. 11 -- Nortech Systems Inc., a mid size EMS firm, today reported record quarterly net sales of $19.2 million for its third quarter ended Sept. 30. Revenues were up 36% year-on-year.

Net income dropped, however, to $236,439, from $440,679 last year (when the company gained a tax credit of $213,000.) The company cited pricing pressures and higher charges for freight and raw materials.

Income from operations was $541,576, up from $439,034. Backlogs were up 20% to $14.2 million.

Year to-date sales are uup 24%, to $52.3 million, a company record. Net income was $384,472, down from $788,990, including the one-time credit.

The company guided for fiscal 2004 revenue of $68 million to $71 million, up 20%.

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