MINNEAPOLIS – Nortech Systems reported fourth quarter net sales of $30.8 million, up 7% year-over-year.

Net income was $271,000, compared to a net loss of $197,000 in the fourth quarter of 2018. Operating income was $805,000, compared to an operating loss of $14,000 in the same period the prior year.

As of Dec. 31, backlog was $49.7 million, compared to $45 million as of Dec. 31, 2018.

For 2019, net sales were $116.3 million, up 3% year-over-year. Net loss for 2019 was $1.2 million, compared to net income of $166,000 in 2018. Operating income was $224,000, down 82.8% year-over-year.

"We are pleased with our improvements in margin and operating income for the last half of the year,” said Jay D. Miller, president and CEO. “Revenue for 2019 met our expectations, and backlog remains strong."

Nortech recognizes the seriousness of the current pandemic and is determined to play its role in addressing the outbreak and in minimizing the impact of Covid-19. The firm’s highest priority is the safety and well-being of its employees and other members of the community.

Staff is taking precautions to ensure a clean, safe environment. Nortech is opting for virtual meetings, minimizing travel, and when possible, asking team members to work remotely.

Nortech is also working closely with its suppliers and customers to ensure it is taking every feasible step to minimize disruption and continue to deliver products.

The company will continue to monitor the most up-to-date information from regulatory authorities in the US, China and Mexico, where its facilities are located.

Effective Mar. 12, Nortech cancelled all inbound and outbound customer and supplier visits. Nortech suggests customer and supplier meetings via videoconference or phone conference, and employees are encouraged to stay home if they are sick or show signs of possible illness.

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