MINNEAPOLIS – Electronics manufacturing services company Nortech Systems reported net sales of $28.4 million for the first quarter, down 2% year-over-year.

Net income was $122,805, up 25% compared to the first quarter of 2011. Income from operations rose 15% to $328,430.

 “We’re pleased with our improvements in operating profits during the first quarter,” said Mike Degen, Nortech Systems’ president and CEO. “The progress we’ve made integrating our acquisitions, along with our ability to better control costs and expenses, helped us generate $2.7 million in operating cash flow for the quarter.
“We’re seeing encouraging signs from certain industrial and medical customers, evidenced by our backlog positions in these markets registering modest single-digit increases since year-end,” he added.

TORONTO – Electronics manufacturing services firm SMTC Corp. reported first-quarter revenue was $72.5 million, up 29% year-over-year, and a slight increase over the previous quarter.

Net income was $2.44 million, up 227% year-over-year.

Adjusted EBITDA was $4.3 million, up 87% compared to the first quarter of 2011, and a slight increase sequentially.

“Revenue for the quarter was at its highest level since the fourth quarter of 2006. For the balance of 2012, we anticipate continued strong top and bottom line performance in line with our previously announced guidance,” said co-CEO Claude Germain.