Overview
Compare with M-tron Industries, Inc., ESPEY MFG & ELECTRONICS CORP or Ostin Technology Group Co., Ltd., or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
15.2%Gross margin4
0.8%Operating margin4
-0.2%Net margin4
-7.6%Revenue growth, 20254
-0.7%Return on equity4
$2.1MFree cash flow4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Medical Imaging brought in 34% of the revenue NORTECH SYSTEMS INC broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Medical Imaging | $37.5M | $40.0M |
| Medical Device | $34.6M | $31.9M |
| Industrial | $35.5M | $30.9M |
| Aerospace And Defense | $20.5M | $15.5M |
Regions
United States brought in 73% of the revenue NORTECH SYSTEMS INC broke down this way in fiscal 2025.
Regions by year
| Regions | 2024 | 2025 |
|---|---|---|
| United States | $10.4M | $8.9M |
| Mexico | $2.4M | $2.0M |
| China | $1.5M | $1.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue85¢$100.4M
- Research and development1¢$1.2M
- Other costs14¢$16.6M
- Income tax0¢$263.0K
Out of $118.4M in revenue.4 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending24¢$661.0K
- Kept or used elsewhere76¢$2.1M
Out of $2.7M of cash from operations.4
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net sales | $118.4M | $128.1M |
| Cost of goods sold | $100.4M | $111.4M |
| Gross profit | $18.0M | $16.7M |
| Selling | $4.8M | $3.4M |
| General and administrative | $10.8M | $11.7M |
| Research and development | $1.2M | $1.2M |
| Restructuring charges | $266.0K | $571.0K |
| Total operating expenses | $17.0M | $16.9M |
| Income (loss) from operations | $975.0K | -$195.0K |
| Interest expense | -$964.0K | -$744.0K |
| Income (loss) before income taxes | $11.0K | -$939.0K |
| Income tax expense | $263.0K | $356.0K |
| Net loss | -$252.0K | -$1.3M |
| Basic (in dollars per share) | -$0.09 | -$0.47 |
| Weighted average number of common shares outstanding - basic (in shares) | 2.8M shares | 2.8M shares |
| Diluted (in dollars per share) | -$0.09 | -$0.47 |
| Weighted average number of common shares outstanding diluted (in shares) | 2.8M shares | 2.8M shares |
| Foreign currency translation | $268.0K | -$445.0K |
| Comprehensive income (loss), net of tax | $16.0K | -$1.7M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $1.7M | $916.0K | |
| Accounts receivable, less allowances of $161 and $196, respectively | $17.0M | $14.9M | |
| Inventories, net | $20.7M | $21.6M | |
| Contract assets | $15.2M | $13.8M | |
| Prepaid assets and other assets | $1.6M | $4.1M | |
| Total current assets | $56.1M | $55.3M | |
| Property and equipment, net | $5.2M | $6.2M | |
| Operating lease assets | $7.0M | $8.1M | |
| Deferred tax assets | $3.4M | $2.6M | |
| Other intangible assets, net | $156.0K | $174.0K | $263.0K |
| Total assets | $71.9M | $72.4M | |
| Line of credit | $7.0M | ||
| Accounts payable | $12.8M | $11.6M | |
| Accrued payroll and commissions | $1.8M | $1.8M | |
| Customer deposits | $5.4M | $5.1M | $4.1M |
| Current portion of operating leases | $1.3M | $1.2M | |
| Current portion of finance lease obligations | $274.0K | $143.0K | |
| Other accrued liabilities | $1.2M | $1.5M | |
| Total current liabilities | $29.8M | $21.4M | |
| Long-term line of credit | $8.6M | ||
| Long-term operating lease obligations, net of current portion | $6.5M | $7.8M | |
| Long-term finance lease obligations, net of current portion | $626.0K | $311.0K | |
| Other long-term liabilities | $426.0K | $284.0K | |
| Total long-term liabilities | $7.5M | $17.0M | |
| Total liabilities | $37.4M | $38.4M | |
| Preferred stock, $1 par value; 1,000,000 shares authorized; 250,000 shares issued and outstanding | $250.0K | $250.0K | |
| Common stock - $0.01 par value; 9,000,000 shares authorized; 2,786,134 and 2,760,793 shares issued and outstanding, respectively | $28.0K | $28.0K | |
| Additional paid-in capital | $17.9M | $17.3M | |
| Accumulated other comprehensive loss | -$709.0K | -$977.0K | |
| Retained earnings | $17.1M | $17.4M | |
| Total shareholders equity | $34.5M | $34.0M | $35.3M |
| Total liabilities and shareholders equity | $71.9M | $72.4M | |
| Accounts receivable allowance | $161.0K | $196.0K | |
| Preferred stock, par value | $1.00 | $1.00 | |
| Preferred stock, shares authorized | 1.0M shares | 1.0M shares | |
| Preferred stock, shares issued | 250.0K shares | 250.0K shares | |
| Preferred stock, shares outstanding | 250.0K shares | 250.0K shares | |
| Common stock, par value | $0.01 | $0.01 | |
| Common stock, shares authorized | 9.0M shares | 9.0M shares | |
| Common stock, shares issued | 2.8M shares | 2.8M shares | |
| Common stock, shares outstanding | 2.8M shares | 2.8M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $1.7M | $916.0K | |
| Accounts receivable, less allowances of $161 and $196, respectively | $17.0M | $14.9M | |
| Inventories, net | $20.7M | $21.6M | |
| Contract assets | $15.2M | $13.8M | |
| Prepaid assets and other assets | $1.6M | $4.1M | |
| Total current assets | $56.1M | $55.3M | |
| Property and equipment, net | $5.2M | $6.2M | |
| Operating lease assets | $7.0M | $8.1M | |
| Deferred tax assets | $3.4M | $2.6M | |
| Other intangible assets, net | $156.0K | $174.0K | $263.0K |
| Total assets | $71.9M | $72.4M | |
| Line of credit | $7.0M | ||
| Accounts payable | $12.8M | $11.6M | |
| Accrued payroll and commissions | $1.8M | $1.8M | |
| Customer deposits | $5.4M | $5.1M | $4.1M |
| Current portion of operating leases | $1.3M | $1.2M | |
| Current portion of finance lease obligations | $274.0K | $143.0K | |
| Other accrued liabilities | $1.2M | $1.5M | |
| Total current liabilities | $29.8M | $21.4M | |
| Long-term line of credit | $8.6M | ||
| Long-term operating lease obligations, net of current portion | $6.5M | $7.8M | |
| Long-term finance lease obligations, net of current portion | $626.0K | $311.0K | |
| Other long-term liabilities | $426.0K | $284.0K | |
| Total long-term liabilities | $7.5M | $17.0M | |
| Total liabilities | $37.4M | $38.4M | |
| Preferred stock, $1 par value; 1,000,000 shares authorized; 250,000 shares issued and outstanding | $250.0K | $250.0K | |
| Common stock - $0.01 par value; 9,000,000 shares authorized; 2,786,134 and 2,760,793 shares issued and outstanding, respectively | $28.0K | $28.0K | |
| Additional paid-in capital | $17.9M | $17.3M | |
| Accumulated other comprehensive loss | -$709.0K | -$977.0K | |
| Retained earnings | $17.1M | $17.4M | |
| Total shareholders equity | $34.5M | $34.0M | $35.3M |
| Total liabilities and shareholders equity | $71.9M | $72.4M | |
| Accounts receivable allowance | $161.0K | $196.0K | |
| Preferred stock, par value | $1.00 | $1.00 | |
| Preferred stock, shares authorized | 1.0M shares | 1.0M shares | |
| Preferred stock, shares issued | 250.0K shares | 250.0K shares | |
| Preferred stock, shares outstanding | 250.0K shares | 250.0K shares | |
| Common stock, par value | $0.01 | $0.01 | |
| Common stock, shares authorized | 9.0M shares | 9.0M shares | |
| Common stock, shares issued | 2.8M shares | 2.8M shares | |
| Common stock, shares outstanding | 2.8M shares | 2.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$252.0K | -$1.3M |
| Depreciation | $1.3M | $1.6M |
| Amortization | $18.0K | $89.0K |
| Compensation on stock-based awards | $503.0K | $461.0K |
| Deferred taxes | -$558.0K | -$12.0K |
| Change in accounts receivable allowance | -$35.0K | -$162.0K |
| Change in inventory reserves | $401.0K | $280.0K |
| Gain on disposal of property and equipment | -$23.0K | |
| Accounts receivable | -$2.0M | $4.4M |
| Inventories | $485.0K | -$400.0K |
| Contract assets | -$1.4M | $689.0K |
| Prepaid expenses and other assets | $2.5M | -$2.0M |
| Income taxes | -$29.0K | -$333.0K |
| Accounts payable | $1.3M | -$4.0M |
| Accrued payroll and commissions | -$30.0K | -$2.3M |
| Customer deposits | $244.0K | $1.1M |
| Other accrued liabilities | $242.0K | -$375.0K |
| Net cash provided by (used in) operating activities | $2.7M | -$2.2M |
| Proceeds from sale of property and equipment | $504.0K | $7.0K |
| Purchases of property and equipment | -$661.0K | -$1.3M |
| Net cash used in investing activities | -$157.0K | -$1.3M |
| Proceeds from line of credit | $101.8M | $129.8M |
| Payments to line of credit | -$103.5M | -$126.9M |
| Proceeds from notes payable | $345.0K | |
| Principal payments on financing leases | -$195.0K | -$367.0K |
| Share repurchases | -$100.0K | |
| Stock award exercises | $23.0K | $38.0K |
| Net cash (used in) provided by financing activities | -$1.9M | $2.8M |
| Effect of exchange rate changes on cash | $20.0K | -$11.0K |
| Net change in cash | $739.0K | -$759.0K |
| Cash paid for interest | $925.0K | $764.0K |
| Cash paid for income taxes | $751.0K | $473.0K |
| Property and equipment purchases in accounts payable | $81.0K | $254.0K |
| Property acquired under operating leases | $2.3M | |
| Equipment acquired under finance leases | $637.0K | $256.0K |
No quarter-by-quarter statement was filed.
Corporate structure
NORTECH SYSTEMS INC sits at the top of its group. 5 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
- NORTECH SYSTEMS INC Maple Grove, Minnesota
- Manufacturing Assembly Solutions of Monterrey, Inc. Subsidiary · Mexico
- Nortech Systems Holdings, LLC Subsidiary · Minnesota, United States
- Nortech Systems, Hong Kong Company, Limited Subsidiary · Hong Kong
- Nortech Systems, Suzhou Company, Limited Subsidiary · China
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What NORTECH SYSTEMS INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Accumulated depreciation | $24.8M4 Dec 31, 2025 | $27.3M4 Dec 31, 2024 | −8.9% |
| Property and equipment, net | $5.2M4 Dec 31, 2025 | $6.2M4 Dec 31, 2024 | −16.5% |
| Operating-lease assets (leased space) | $7.0M4 Dec 31, 2025 | $8.1M4 Dec 31, 2024 | −13.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $1.7M4 Dec 31, 2025 | $916.0K10 Dec 31, 2024 | +80.7% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finite-lived intangibles, net | $71.0K4 Dec 31, 2025 | $89.0K10 Dec 31, 2024 | −20.2% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $20.7M4 Dec 31, 2025 | $21.6M4 Dec 31, 2024 | −4.4% |
| Raw materials | $20.6M4 Dec 31, 2025 | $21.1M4 Dec 31, 2024 | −2.6% |
| Work in process | $1.0M4 Dec 31, 2025 | $892.0K4 Dec 31, 2024 | +12.4% |
| Finished goods | $970.0K4 Dec 31, 2025 | $1.1M4 Dec 31, 2024 | −9.3% |
Properties, in its own words
Administration
Our corporate headquarters consists of an approximately 14,000 square feet building located in Maple Grove, Minnesota, a northwestern suburb of Minneapolis, Minnesota, and its lease expires August 2033.
The rest of Item 2
Manufacturing facilities
Our manufacturing facilities are in good operating condition, and we believe our overall production capacity is sufficient to handle our foreseeable manufacturing needs and customer requirements. The following are our manufacturing facilities as of December 31, 2025:
Manufacturing Space · Office Space · Total
Location · Own/Lease · Lease End Date · Square Feet · Square Feet · Square Feet
Bemidji, MN · Lease · August 31, 2035 · 56,000 · 13,000 · 69,000
Milaca, MN · Lease · June 30, 2030 · 15,000 · 5,000 · 20,000
Mankato, MN · Lease · August 31, 2035 · 43,000 · 15,000 · 58,000
Monterrey, Mexico · Lease · January 24, 2029 · 67,000 · 10,000 · 77,000
Suzhou, China · Lease · February 28, 2027 · 27,000 · 3,000 · 30,000
Suzhou, China · Lease · January 20, 2027 · 15,000 · - · 15,000
Suzhou, China · Lease · October 17, 2026 · 15,000 · - · 15,000
Suzhou, China · Lease · November 22, 2028 · 2,000 · - · 2,000
Item 2 of the 10-K filed Mar 26, 2026.12
Leadership
Who has led NORTECH SYSTEMS INC, and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerJay D. Miller Mar 1, 2019 to Mar 25, 202213
- Chief executive officerRichard G. Wasielewski Aug 19, 2015 to May 17, 201714
- Chief executive officerMichael J. Degen Mar 9, 2006 to Mar 9, 200615
- PresidentJay D. Miller Jan 3, 2019 to Mar 25, 202216
- PresidentRichard G. Wasielewski Mar 14, 2013 to Mar 14, 201317
- PresidentMichael J. Degen Nov 2, 2006 to May 19, 200818
- Chief financial officerConstance Beck Jan 10, 2018 to Jan 10, 201819
- Chief financial officerPaula M. Graff Jan 14, 2014 to Aug 31, 201520
- Chief financial officerRichard G. Wasielewski Mar 9, 2006 to Mar 23, 201021
- Chief operating officerMatt Mahmood May 18, 2017 to May 18, 201722
Board members and other officers (27)
- Sr VP - Global OperationsJohn Lindeen Jan 4, 2019 to Feb 13, 202423
- Senior Vice President of HRHeidi B. Grange Sep 11, 2019 to Mar 19, 202024
- Vice PresidentCurtis J. Steichen Mar 9, 2006 to Nov 2, 200625
- Vice PresidentDonald E. Horne Mar 9, 2006 to Nov 2, 200626
- Senior Vice PresidentGarry M. Anderly Mar 9, 2006 to Aug 1, 200827
- Vice PresidentKeith A. Pieper Mar 9, 2006 to May 26, 200928
- Vice PresidentPeter L. Kucera Mar 9, 2006 to Feb 20, 200729
- Board memberDebarati Sen Jul 12, 2024 to now30
- Board memberAmy S. Fredregill Nov 7, 2023 to now31
- Board memberJose Antonio Peris Nov 7, 2023 to now32
- Board memberDavid J. Graff May 16, 2022 to May 16, 202333
- Board memberStacy A. Kruse May 21, 2021 to now34
- Board memberPhilip Irving Smith Dec 15, 2020 to Mar 21, 202235
- Board memberDan Sachs Dec 21, 2020 to Jul 12, 202436
- Board memberJay D. Miller May 10, 2018 to Mar 25, 202237
- Board memberSteven J. Rosenstone May 10, 2018 to May 19, 202338
- Board memberRyan McManus Sep 9, 2016 to now39
- Board memberKathleen P. Iverson Apr 21, 2015 to May 10, 201840
- Board memberMichael Joseph Kennedy Aug 17, 2015 to May 10, 201841
- Board memberRichard G. Wasielewski Aug 19, 2015 to May 17, 201714
- Board memberDavid B. Kunin Sep 26, 2014 to now42
- Board memberC. Trent Riley Nov 10, 2008 to Nov 10, 200843
- Board memberKenneth D. Larson Mar 9, 2006 to Mar 14, 201744
- Board memberMichael J. Degen Mar 9, 2006 to May 19, 200815
- Board memberMyron D. Kunin Mar 9, 2006 to Nov 10, 200845
- Board memberRichard W. Perkins Mar 9, 2006 to Nov 12, 200846
- General counselBert M. Gross Mar 9, 2006 to Nov 2, 200647
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Manufacturing Assembly Solutions of Monterrey, Inc. Mexico3
- Nortech Systems Holdings, LLC Minnesota, USA3
- Nortech Systems, Hong Kong Company, Limited Hong Kong3
- Nortech Systems, Suzhou Company, Limited China3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 12, 20268-K Results of operations48
- May 14, 20268-K Shareholder vote49
- May 13, 20268-K Results of operations50
- Mar 26, 20268-K Results of operations51
- Mar 23, 20268-K Entered a material agreement52
- Mar 6, 20268-K Entered a material agreement53
- Jan 6, 20268-K Executive or director change; Other events54
- Nov 13, 20258-K Results of operations55
- Oct 27, 20258-K Executive or director change56
- Aug 19, 20258-K Executive or director change57
- Aug 7, 20258-K Results of operations58
- Aug 1, 20258-K Entered a material agreement59
- Mar 1, 2019New chief executive Jay D. Miller becomes CEO13
- Aug 19, 2015New chief executive Richard G. Wasielewski becomes CEO14
- Mar 9, 2006New chief executive Michael J. Degen becomes CEO15
Calendar
Coming up
- Nov 12, 2026Reports results for the quarter ending Sep/202660
When it reported results
- Aug 12, 2026Reported quarterly or annual results48
- May 13, 2026Reported quarterly or annual results50
- Mar 26, 2026Reported quarterly or annual results51
- Nov 13, 2025Reported quarterly or annual results55
- Aug 7, 2025Reported quarterly or annual results58
- May 14, 2025Reported quarterly or annual results61
- Mar 31, 2025Reported quarterly or annual results62
- Nov 7, 2024Reported quarterly or annual results63
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
159 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 42 major events, 78 insider forms, 18 other. The latest 20:
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Aug 12, 202610-Q EDGAR
- Aug 12, 20268-K EDGAR
- May 20, 2026S-8 EDGAR
- May 18, 2026SD EDGAR
- May 14, 20268-K EDGAR
- May 13, 20268-K EDGAR
- May 13, 202610-Q EDGAR
- Apr 15, 202610-K/A EDGAR
- Apr 1, 2026DEF 14A EDGAR
- Apr 1, 2026DEFA14A EDGAR
- Mar 26, 20268-K EDGAR
- Mar 26, 202610-K EDGAR
- Mar 23, 20268-K EDGAR
- Mar 6, 20268-K EDGAR
- Jan 6, 20268-K EDGAR
The 159 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
50 open-market trades by officers, directors and large owners since October 2021: 50 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 22, 2023 | KUNIN DAVID BDirector | Buy | 21 | $11.85 | $249 | Form 4 |
| Mar 21, 2023 | KUNIN DAVID BDirector | Buy | 302 | $12.18 | $3.7K | Form 4 |
| Mar 20, 2023 | KUNIN DAVID BDirector | Buy | 1,632 | $11.89 | $19.4K | Form 4 |
| Mar 15, 2023 | KUNIN DAVID BDirector | Buy | 445 | $12.00 | $5.3K | Form 4 |
| Apr 12, 2022 | KUNIN DAVID BDirector | Buy | 1 | $10.00 | $10 | Form 4 |
| Apr 11, 2022 | KUNIN DAVID BDirector | Buy | 585 | $10.02 | $5.9K | Form 4 |
| Apr 8, 2022 | KUNIN DAVID BDirector | Buy | 296 | $10.00 | $3.0K | Form 4 |
| Mar 31, 2022 | KUNIN DAVID BDirector | Buy | 13 | $10.10 | $131 | Form 4 |
| Mar 30, 2022 | KUNIN DAVID BDirector | Buy | 1,587 | $10.13 | $16.1K | Form 4 |
| Mar 29, 2022 | KUNIN DAVID BDirector | Buy | 1,587 | $10.17 | $16.1K | Form 4 |
| Mar 28, 2022 | KUNIN DAVID BDirector | Buy | 1,578 | $9.99 | $15.8K | Form 4 |
| Mar 25, 2022 | KUNIN DAVID BDirector | Buy | 744 | $9.93 | $7.4K | Form 4 |
| Mar 24, 2022 | KUNIN DAVID BDirector | Buy | 744 | $9.66 | $7.2K | Form 4 |
| Mar 23, 2022 | KUNIN DAVID BDirector | Buy | 744 | $10.15 | $7.6K | Form 4 |
| Feb 25, 2022 | KUNIN DAVID BDirector | Buy | 845 | $10.15 | $8.6K | Form 4 |
| Feb 24, 2022 | KUNIN DAVID BDirector | Buy | 845 | $9.95 | $8.4K | Form 4 |
| Feb 23, 2022 | KUNIN DAVID BDirector | Buy | 767 | $10.13 | $7.8K | Form 4 |
| Feb 22, 2022 | KUNIN DAVID BDirector | Buy | 845 | $9.95 | $8.4K | Form 4 |
| Feb 17, 2022 | KUNIN DAVID BDirector | Buy | 838 | $10.15 | $8.5K | Form 4 |
| Feb 15, 2022 | KUNIN DAVID BDirector | Buy | 838 | $9.85 | $8.3K | Form 4 |
All 50 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Jay D. Miller | 66 | $525.8K64 | |
| 2025 | Andrew D. C. LaFrence | 63 | $324.2K64 | |
| 2025 | John Lindeen | 60 | $282.8K64 | |
| 2024 | Chief Executive Officer | $520.0K64 | ||
| 2024 | Chief Financial Officer and Sr. VP of Finance | $318.7K64 | ||
| 2024 | Sr. VP of Global Operations | $277.0K64 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Wells Fargo & Company/mn | 76,091 | $1.2M | 0.0% | New |
| Renaissance Technologies LLC | 62,599 | $990.3K | 0.0% | +18,600 |
| Vanguard Capital Management LLC | 26,247 | $412.6K | 0.0% | −1,641 |
| Chevy Chase Trust Holdings, LLC | 15,832 | $250.5K | 0.0% | No change |
| Pathstone Holdings, LLC | 12,000 | $189.8K | 0.0% | New |
| Dimensional Fund Advisors LP | 10,624 | $167.0K | 0.0% | New |
| Morgan Stanley | 8,500 | $134.5K | 0.0% | New |
| Vanguard Fiduciary Trust Co | 5,211 | $81.9K | 0.0% | +3,683 |
| BlackRock, Inc. | 4,456 | $70.5K | 0.0% | New |
| Larson Financial Group LLC | 241 | $3.8K | 0.0% | No change |
| NewEdge Advisors, LLC | 156 | $2.5K | 0.0% | New |
| UBS Group AG | 105 | $1.7K | 0.0% | New |
| Fmr LLC | 105 | $1.7K | 0.0% | +10 |
| Rialto Wealth Management, LLC | 30 | $475 | 0.0% | New |
| Caitong International Asset Management Co., Ltd | 2 | $32 | 0.0% | +1 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How NORTECH SYSTEMS INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARNORTECH SYSTEMS INC1
- CIK0000722313
- Employer ID (EIN)41-168109412
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company12
- Incorporated inMinnesota12
- Fiscal year endsDecember 311
- Industry code (SIC)3679 Electronic Components, NEC1
- SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
- Business address7550 Meridian Circle N, Suite 150, Maple Grove, MN 553691
- Phone952-345-22441
- Shares outstanding2,853,766 as of Aug 5, 20265
- Public float$11.8M as of Jun 30, 202512
- AuditorBaker Tilly US, LLP, Minneapolis, Minnesota PCAOB ID 23; no auditor attestation of internal control over financial reporting12
- On EDGAR sinceMar 29, 19961
- Filings561 in all: 4 (165), 8-K (123), 10-Q (92), DEF 14A (31), 10-K (30), 3 (30), 4/A (19), SD (13)1
All 27 form types
ARS (11), 5 (8), DEFA14A (8), SC 13D/A (7), S-8 (6), 10-K/A (2), SC 13D (2), SC 13G/A (2), UPLOAD (2), 10-K405 (1), 10-K405/A (1), 3/A (1), 5/A (1), 8-K/A (1), CORRESP (1), DEFR14A (1), S-1/A (1), S-3 (1), SC 13G (1)
- Latest filingsAnnual report (10-K) Mar 26, 2026
Quarterly report (10-Q) Aug 12, 2026
Proxy statement (DEF 14A) Apr 1, 2026
Latest 8-K (8-K) Aug 12, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $.01 per share | NSYS | NASDAQ |
From the cover page of the 10-K filed Mar 26, 2026 (Section 12(b) of the Exchange Act).12
Risk factors and legal proceedings
The risks NORTECH SYSTEMS INC names in Item 1A of its 10-K filed Mar 26, 2026: 33 risks under these headings, as written.12
- Risks Related to our Business
- A large percentage of our net sales have been made to a small number of customers, and the loss of a major customer, if not replaced, would adversely affect us.
- We are dependent on suppliers for components and raw materials and may experience shortages, extended lead times, cost premiums and shipment delays that would adversely affect our customers and us.
- Our customers cancel orders, change order quantity, timing and product specifications that if not managed would have an adverse effect on the timing of net sales and inventory carrying costs.
- We depend heavily on our people and may from time to time have difficulty attracting and retaining skilled employees and the cost of labor may continue to increase. The loss of key management or an ineffective transition of leadership could adversely affect our operations and strategic direction.
- Our engineering net sales depend on our ability to deliver quality value-added engineering services required by our customers.
- We operate in highly competitive industries, and we depend on continuing outsourcing by Original Equipment Manufacturers (“OEM”).
- The manufacture and sale of products carries potential risk for product liability claims and warranty claims.
- The Company is majority owned by one group of shareholders, and those shareholders may be able to take actions that do not reflect the will or best interests of other shareholders.
- Operating in foreign countries exposes our operations to risks that could adversely affect our operating results.
- We face risks arising from the restructuring of our operations.
- Risks Related to our Assets
The other 23 risks
- We are dependent on our information technology systems for order, inventory procurement and management, production management, treasury, financial reporting, communications and other functions. If our information systems fail or experience major interruptions due to physical damage or loss of power or incur disruptions to our information systems, including security breaches, losses of data or outages, cyberattacks and other security issues, it could adversely affect our operations and/or financial results.
- We are investing in new technologies which are inherently risky.
- Our investments in new products and technologies are inherently risky and are a departure from historical business operations.
- Financial Risks
- If we fail to comply with the covenants contained in our credit agreement, we may be unable to secure additional financing and repayment obligations on our outstanding indebtedness may be accelerated.
- Our future growth depends on our ability to generate and sustain customer bookings.
- Our ability to generate positive EBITDA and operating cash flow may fluctuate and may be insufficient to support our operations, service our debt obligations or satisfy financial covenant requirements.
- Our exposure to financially troubled customers, start-up businesses or suppliers may adversely affect our financial results.
- Changes in foreign currency translation rates could adversely impact our net sales and earnings.
- We do not expect to pay dividends for the foreseeable future, and we may never pay dividends; investors must rely on stock appreciation for any return on investment in our common stock.
- We expect volatility in the price of our common stock, which may subject us to securities litigation.
- If we fail to maintain effective systems of internal control over financial reporting and disclosure controls and procedures, we may not be able to accurately report our financial results or prevent fraud.
- Our services involve other inventory risk.
- Impairment of Our Long-Lived Assets Could Adversely Affect Our Results of Operations and Financial Condition.
- Market Risks
- The economic conditions around the world could adversely affect demand for our products and services and the financial health of our customers.
- Pandemics or disease outbreaks could adversely affect our operations, supply chains, financial condition and results of operations.
- Legal and Regulatory Risks
- We are subject to extensive government regulations and industry standards and the terms of complex contracts; a failure to comply with current and future regulations and standards, or the terms of our contractual arrangements, could have an adverse effect on our business, customer relationships, reputation and profitability.
- We may not meet regulatory quality standards applicable to our manufacturing and quality processes which could have an adverse effect on our business.
- Complying with securities laws, tax laws, accounting policies and regulations, and subsequent changes, may be costly for us and adversely affect our financial statements.
- Anti-Corruption and Trade Laws - We may incur costs and suffer damages if our employees, agents, or suppliers violate anti-bribery, anti-corruption or trade laws and regulations.
- Non-compliance with environmental laws may result in restrictions and could adversely affect operations.
- Global climate change and related regulations could negatively affect the Company.
- If we use hazardous materials in a manner that causes contamination or injury, we could be liable for resulting damages.
- If we are not able to comply with Department of Defense cybersecurity requirements, our net sales from defense contractors could be reduced.
Legal proceedings
From time to time, we are involved in ordinary, routine or regulatory legal proceedings incidental to the business. When a loss is deemed probable and reasonably estimable an amount is recorded in our consolidated financial statements.
The opening of Item 3, Legal Proceedings.12
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARJay D. Miller, President
- 17SEC EDGARRichard G. Wasielewski, President
- 18SEC EDGARMichael J. Degen, President
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- 25SEC EDGARCurtis J. Steichen, Vice President
- 26SEC EDGARDonald E. Horne, Vice President
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- 28SEC EDGARKeith A. Pieper, Vice President
- 29SEC EDGARPeter L. Kucera, Vice President
- 30SEC EDGARDebarati Sen, Board member
- 31SEC EDGARAmy S. Fredregill, Board member
- 32SEC EDGARJose Antonio Peris, Board member
- 33SEC EDGARDavid J. Graff, Board member
- 34SEC EDGARStacy A. Kruse, Board member
- 35SEC EDGARPhilip Irving Smith, Board member
- 36SEC EDGARDan Sachs, Board member
- 37SEC EDGARJay D. Miller, Board member
- 38SEC EDGARSteven J. Rosenstone, Board member
- 39SEC EDGARRyan McManus, Board member
- 40SEC EDGARKathleen P. Iverson, Board member
- 41SEC EDGARMichael Joseph Kennedy, Board member
- 42SEC EDGARDavid B. Kunin, Board member
- 43SEC EDGARC. Trent Riley, Board member
- 44SEC EDGARKenneth D. Larson, Board member
- 45SEC EDGARMyron D. Kunin, Board member
- 46SEC EDGARRichard W. Perkins, Board member
- 47SEC EDGARBert M. Gross, General counsel
- 48SEC EDGARResults of operations
- 49SEC EDGARShareholder vote
- 50SEC EDGARResults of operations
- 51SEC EDGARResults of operations
- 52SEC EDGAREntered a material agreement
- 53SEC EDGAREntered a material agreement
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- 55SEC EDGARResults of operations
- 56SEC EDGARExecutive or director change
- 57SEC EDGARExecutive or director change
- 58SEC EDGARResults of operations
- 59SEC EDGAREntered a material agreement
- 60NasdaqNasdaq calendar
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