MINNEAPOLIS – Nortech Systems reported third quarter net sales of $30.1 million, an increase of 1.7% year-over-year.
Net income was $413,000, up 13% compared to the third quarter of 2018.
Operating income for the third quarter was $713,000, growth of 10% year-over-year.
As of Sept. 30, the firm’s backlog was $58.1 million, compared to $43.1 million on the same day in 2018.
“We are pleased with our third quarter improvements in margin and operating income,” said CEO and president Jay D. Miller. “Revenue met our expectations, and our margins were positively impacted by the continuation of strategic operational efficiencies while we manage through component shortages. We continue to expect to deliver on our backlog for the remainder of the year, which is among the highest Nortech backlog in 10 years.”