NORTECH SYSTEMS INC — Form 8-K
Filed August 12, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
Nortech reported Q2 2026 net sales of $33.5M (vs. $30.7M in Q2 2025, +9.3%), with net income of $316K ($0.11/share basic). 90-day backlog reached $33.4M (vs. $26.6M YoY) and total backlog $93.8M (+20% YoY). Gross margin improved 17.9% YoY to $5.7M; however, adjusted EBITDA declined 12.6% to $938K. YTD 2026 results show $63.9M revenue (+10.9%) and $282K net income versus YTD 2025 loss of $1.0M.
Why this rating
Revenue growth of 9-11% and strong backlog growth (+20%) are operationally positive for a $125M LTM company, but declining EBITDA, thin margins (16.4%), high leverage ($9.5M debt vs. $35.5M equity), and tight cash ($1.4M) limit materiality relative to company scale.
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