Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
© yuriy-chaban-dreamstime.com Electronics Production | August 08, 2013

Stable 1H13 for Nortech Systems

US EMS-provider, Nortech Systems, saw a 10 percent sales increase during the second quarter of 2013.

Nortech Systems reported net sales of USD 28.5 million for the second quarter ended June 30, 2013, a 10 percent sequential increase from the prior quarter and a one percent increase over the second quarter of 2012. Operating income for the second quarter of 2013 rose 67 percent from the first quarter of 2013 and 17 percent over the second quarter of 2012. The company’s net income for the second quarter of 2013 was USD 187'000. This is a 49 percent increase from the second quarter of 2012, when net income was USD 126'000. For the six months ended June 30, 2013, Nortech Systems reported net sales of USD 54.4 million, compared with USD 56.4 million for the same period in 2012. Net income for the six-month period was USD 328'000, compared with USD 249'000 for the same period in 2012. Nortech Systems’ improved profitability for the second quarter and six months was aided by continuous improvement from lean workouts, the implementation of automation technology and increased plant utilization. “We’re pleased to report profitable sales growth for the quarter,” said Mike Degen, Nortech Systems’ CEO, adding that the company’s overall 90-day backlog rose 11 percent year over year. “Sales to defense customers were particularly strong in the quarter as we launched several new programs and a number of new customized cable assemblies.” Degen concluded, “Our performance so far this year positions us well for the second half of the year.”
Ad
Ad
Ad
Ad
Load more news
October 11 2019 3:09 pm V14.5.0-1