Electromedical devices firm Nortech Systems Q2 net sales fall
Overview
Nortech Systems Q2 net sales fall 9.5% yr/yr to $30.7 mln
Net income for Q2 surges 99.4% yr/yr, reflecting restructuring success
Adjusted EBITDA improves, driven by increased plant utilization and efficiencies
Outlook
Nortech sees strong nearshoring position in Mexico and China
Company aligns production focus from copper to fiber optics
Company remains cautiously optimistic about future demand
Result Drivers
RESTRUCTURING EFFORTS - Improved earnings attributed to successful restructuring and cost discipline
PLANT UTILIZATION - Increased plant utilization and manufacturing efficiencies contributed to operational improvements
INVENTORY STRATEGY - Strategic shifts in inventory from raw materials to finished goods to support customer stocking programs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | $30.68 mln | ||
Q2 EPS | $0.12 | ||
Q2 Net Income | $313,000 | ||
Q2 Pretax Profit | $485,000 |
Press Release:
