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Nortech Systems Incorporated, a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical imaging, medical device, industrial, and aerospace & defense markets, reported financial results for the first quarter ended March 31, 2026.
2026 Q1 Highlights:
- Net sales of $30.3 million in Q1 2026 vs. $26.9 million in Q1 2025
- Net loss of $(34) thousand, or $(0.01) per basic share in Q1 2026 vs. $(1,316) thousand, or $(0.48) per basic share in Q1 2025
- Adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”) of $350 thousand in Q1 2026 vs. $(1.0) million loss in Q1 2025
- 90-day backlog of $31.5 million as of March 31, 2026 vs. $26.7 million as of March 31, 2025
- Total backlog of $90.8 million as of March 31, 2026
- Company closed on $17.2 million debt financing
Management Commentary
“Nortech delivered another quarter of operational and financial progress, marking our fourth consecutive period of encouraging operating and EBITDA results reflecting the positive execution of our strategic restructuring initiatives. We are seeing continued improvements in gross margins, manufacturing efficiency, and world-class quality metrics reflect the disciplined execution of our long-term strategy. We are also excited to see our new Senior Vice President of Global Operations, Andrew Walko, stepping into his role to lead our global team and having an immediate and encouraging impact,” said President & CEO, Jay D. Miller.
“Our growing customer backlog, combined with the successful transfer of key programs to our optimized facilities, is strengthening the foundation for sustained performance improvement. Our Bemidji facility continues to make significant progress serving our customers in the Aerospace and Defense segment. Aerospace and Defense is historically our smallest customer segment, yet it continues to grow at a steady pace becoming an increasingly important part of our customer mix. The continued growth of the backlog will provide a tailwind for the Company into the second half of the year. With the closure of our new debt financing in March, and our strong North American and Asian footprint, we believe we are well-positioned to support customers pursuing nearshore manufacturing strategies. I am grateful for the hard work of our employees across the globe, and we remain optimistic about the opportunities ahead as we continue to execute our strategy in 2026 and beyond,” Miller said.
