| Nortech Reports Q4 Sales Up 6% |
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| Thursday, 06 March 2008 09:32 | |||
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MINNEAPOLIS – Nortech Systems reported net sales of $29.3 million for the fourth quarter, up 6% year-over-year. Operating income was $1.1 million, up 47% compared to 2006. Net income totaled $504,112, up 13.8% year-over-year. For 2007, the company reported record net sales of $118.1 million, up 12% year-over-year. Operating income increased 38%, to $3.6 million. Net income was $1.6 million, up 20% compared to 2006. “Last year’s accomplishments were highlighted by a successful acquisition and the launch of our Lean manufacturing initiative,” said Mike Degen, Nortech’s president and CEO. “Our backlog position ended the year strong across our company, positioning us well for the first quarter,” he said. The acquisition of Suntron’s assembly operations in Garner, IA, last February added capabilities and customers in new markets, including agriculture and oil and gas. Nortech’s Lean manufacturing initiative was deployed at its aerospace systems operation last year. Rollouts are planned at other Nortech locations during 2008.
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| Last Updated on Thursday, 06 March 2008 09:33 |
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