Nortech's Sales Up 6.4% Sequentially
MINNEAPOLIS -- Nortech Systems today reported fourth-quarter net sales of $19.8 million, down 26.7% from a year ago.
For the period ended Dec. 31, the EMS firm's net sales were up 64.% sequentially and backlogs grew 25%.
The net loss was $145,347, compared with net income of $76,970 in 2008.
For the year, the company reported net sales of $79.9 million, down 35% from 2008. The net loss was $3.8 million, versus net income of $1.8 million last year.
In a press release, president and CEO Mike Degen said, “We're encouraged by recent trends in our financial performance and customer demand. Industry trends are also favorable; analyst firms have forecast revenue growth rates of three to seven percent for the EMS industry in 2010."
