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11
May
2012

Nortech Systems announces Q1 results

Nortech Systems yesterday reported net sales of 28.4 million USD for the first quarter ended March 31, 2012. This compares to net sales of $29.0 million for the first quarter of 2011.
Income from operations rose 15 percent for the first quarter of 2012, to $328,430. This compares with $286,662 for the same period in 2011. Net income for the first quarter of 2012 was $122,805, down from $626,188 for the same time last year.

“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.”

Degen noted that revenue results across the company remain mixed in the sluggish economic environment. “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.
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