NSYS - Nortech Systems GAAP EPS of -$0.14 revenue of $35.6M

2023-03-17 03:55:55 ET

• Nortech Systems press release ( NASDAQ: NSYS ): Q4 GAAP EPS of -$0.14.
• Revenue of $35.6M (+6.4% Y/Y).
• Fourth quarter gross margin of 14.3%, up 6.3 percentage points from gross margin of 8.0% in the fourth quarter of 2021.
• Quarter-end backlog of $104.0 million on December 31, 2022, up 9.6% compared to December 31, 2021.
• “We have built a solid financial platform, and Nortech’s gross margin, cash flow, and balance sheet are all healthier. We have invested in our people and enhanced our inclusive culture. We are also carefully investing our engineering resources to develop and sell innovative proprietary products that can complement and enhance our customers’ offerings. Those foundational capability improvements give us confidence in Nortech’s future growth opportunities," stated Jay D. Miller, President & CEO of Nortech Systems.

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