Nortech Continues Climb; Q2 Back in Black Print E-mail
User Rating: / 0
PoorBest 
Written by Mike Buetow   
Thursday, 12 August 2010 06:25

MINNEAPOLIS -- Nortech Systems swung to a net profit of $147,000 for its second quarter ended June 30. The EMS firm took a net loss of $1.5 million in the year ago period.

The company had net sales of $24.7 million for the quarter, up 24% from 2009. Operating income was $485,000, compared with an operating loss of $2.2 million last year, when the contract printed circuit board manufacturer took one-time restructuring and impairment charges of $645,000.

“At the halfway point in our fiscal year, we’re continuing our positive momentum,” said Mike Degen, president and CEO. “Customers are displaying more confidence, evidenced by our increases in quoting activity, sales, backlog levels and new business.”

The 90-day backlog was $21.3 million on June 30, 2010, up 12% from the start of the quarter and over 50% from the second quarter 2009.

 


blog comments powered by Disqus
 

Columns

What’s Driving Electronics Packaging and Assembly Trends?

Multi-die configurations and a switch to copper wires are rampant, and supercomputers are why.

Read more...
 
Bridging at Reflow

What causes it, and can it be eliminated?

Read more...
 

Features

Current Trends in Conformal Coatings

Custom formulations have become the norm.

Read more...
 
The Worldwide Industrial Electronics Assembly Markets Defined

Test, clean energy and process control represent huge potential for EMS.

Read more...
 

Search

Search

Login

CB Login

Language

Language

English French German Italian Portuguese Russian Spanish
 

Products

Corelis Releases ScanExpress v. 7.7 Boundary Scan Suite
ScanExpress version 7.7 boundary scan tool suite includes improved constraints handling, support for multi-core devices, and new JTAG Embedded Test support for additional Freescale and Texas...