$NSYS
Nortech Systems Inc

2014 Q1 Form 10-Q Financial Statement

#000110465914035775 Filed on May 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013 Q1
Revenue $26.15M $29.29M $25.93M
YoY Change 0.86% 17.07% -8.59%
Cost Of Revenue $23.08M $25.79M $22.69M
YoY Change 1.71% 19.9% -10.51%
Gross Profit $3.074M $3.500M $3.237M
YoY Change -5.05% -0.28% 7.62%
Gross Profit Margin 11.76% 11.95% 12.49%
Selling, General & Admin $2.838M $3.020M $3.014M
YoY Change -5.84% -0.33% 12.46%
% of Gross Profit 92.32% 86.29% 93.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $497.4K $500.0K $509.4K
YoY Change -2.36% 6.38% 13.53%
% of Gross Profit 16.18% 14.29% 15.73%
Operating Expenses $2.838M $3.020M $3.014M
YoY Change -5.84% -0.33% 12.46%
Operating Profit $236.2K $480.0K $223.6K
YoY Change 5.63% 0.0% -31.91%
Interest Expense $89.98K -$90.00K $93.53K
YoY Change -3.79% 0.0% -31.62%
% of Operating Profit 38.09% -18.75% 41.82%
Other Income/Expense, Net -$100.1K -$20.00K -$103.5K
YoY Change -3.35% 100.0% -29.39%
Pretax Income $136.2K $380.0K $120.1K
YoY Change 13.38% 0.0% -33.95%
Income Tax $50.00K $140.0K -$21.00K
% Of Pretax Income 36.72% 36.84% -17.49%
Net Earnings $86.16K $240.0K $141.1K
YoY Change -38.93% -14.29% 14.89%
Net Earnings / Revenue 0.33% 0.82% 0.54%
Basic Earnings Per Share
Diluted Earnings Per Share $0.03 $87.27K $0.05
COMMON SHARES
Basic Shares Outstanding 2.743M shares 2.743M shares 2.743M shares
Diluted Shares Outstanding 2.748M shares 2.743M shares

Balance Sheet

Concept 2014 Q1 2013 Q4 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $340.0K $0.00 $20.00K
YoY Change 1600.0%
Cash & Equivalents $336.2K $0.00 $18.52K
Short-Term Investments
Other Short-Term Assets $1.480M $1.310M $1.530M
YoY Change -3.27% -7.75% -2.55%
Inventory $18.79M $17.43M $19.12M
Prepaid Expenses $800.3K $634.4K $677.5K
Receivables $15.41M $16.03M $14.05M
Other Receivables $90.00K $140.0K $20.00K
Total Short-Term Assets $36.11M $34.92M $34.73M
YoY Change 3.97% 6.8% -4.98%
LONG-TERM ASSETS
Property, Plant & Equipment $11.02M $11.04M $11.22M
YoY Change -1.86% -4.57% 23.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $121.1K $122.4K $138.2K
YoY Change -12.4% -52.41% -59.25%
Total Long-Term Assets $11.14M $11.16M $11.41M
YoY Change -2.38% -5.62% 20.28%
TOTAL ASSETS
Total Short-Term Assets $36.11M $34.92M $34.73M
Total Long-Term Assets $11.14M $11.16M $11.41M
Total Assets $47.25M $46.08M $46.14M
YoY Change 2.4% 3.51% 0.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.632M $8.185M $9.220M
YoY Change -6.38% -9.58% -21.27%
Accrued Expenses $3.420M $3.310M $3.410M
YoY Change 0.29% 25.38% -16.01%
Deferred Revenue
YoY Change
Short-Term Debt $7.630M $7.230M $7.000M
YoY Change 9.0% -8.71% -3.85%
Long-Term Debt Due $682.0K $632.2K $564.7K
YoY Change 20.76% 39.52% 18.24%
Total Short-Term Liabilities $20.36M $19.37M $20.20M
YoY Change 0.82% -3.8% -14.18%
LONG-TERM LIABILITIES
Long-Term Debt $4.289M $4.247M $4.316M
YoY Change -0.63% 48.19% 184.13%
Other Long-Term Liabilities $281.6K $244.5K $185.6K
YoY Change 51.75% 57.42% 47.49%
Total Long-Term Liabilities $4.853M $4.773M $4.658M
YoY Change 4.18% 46.96% 149.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.36M $19.37M $20.20M
Total Long-Term Liabilities $4.853M $4.773M $4.658M
Total Liabilities $25.22M $24.14M $24.86M
YoY Change 1.45% 3.25% -2.15%
SHAREHOLDERS EQUITY
Retained Earnings $6.069M $5.983M $5.336M
YoY Change 13.73% 15.16% 13.81%
Common Stock $27.43K $27.43K $27.43K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.03M $21.94M $21.28M
YoY Change
Total Liabilities & Shareholders Equity $47.25M $46.08M $46.14M
YoY Change 2.4% 3.51% 0.23%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013 Q1
OPERATING ACTIVITIES
Net Income $86.16K $240.0K $141.1K
YoY Change -38.93% -14.29% 14.89%
Depreciation, Depletion And Amortization $497.4K $500.0K $509.4K
YoY Change -2.36% 6.38% 13.53%
Cash From Operating Activities $520.0K $300.0K -$420.0K
YoY Change -223.81% -89.62% -115.85%
INVESTING ACTIVITIES
Capital Expenditures $669.7K -$190.0K $201.6K
YoY Change 232.22% -93.56% -56.42%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$670.0K -$200.0K -$200.0K
YoY Change 235.0% -93.24% -56.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $138.0K $111.9K
YoY Change 23.39% -11.48%
Cash From Financing Activities 480.0K -580.0K 640.0K
YoY Change -25.0% -1066.67% -129.22%
NET CHANGE
Cash From Operating Activities 520.0K 300.0K -420.0K
Cash From Investing Activities -670.0K -200.0K -200.0K
Cash From Financing Activities 480.0K -580.0K 640.0K
Net Change In Cash 330.0K -480.0K 20.00K
YoY Change 1550.0% 4700.0%
FREE CASH FLOW
Cash From Operating Activities $520.0K $300.0K -$420.0K
Capital Expenditures $669.7K -$190.0K $201.6K
Free Cash Flow -$149.7K $490.0K -$621.6K
YoY Change -75.92% -91.61% -128.42%

Facts In Submission

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IncreaseDecreaseInOtherAccruedLiabilities
71528 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
669663 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-669663 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-201573 USD
CY2014Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
390485 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
230000 USD
CY2014Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
138044 USD
CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
189250 shares
CY2014Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
26750 shares
CY2014Q1 nsys Accrued Share Based Compensation Current
AccruedShareBasedCompensationCurrent
35000 USD
CY2014Q1 nsys Accrued Share Based Compensation Noncurrent
AccruedShareBasedCompensationNoncurrent
89000 USD
CY2013Q4 nsys Accrued Share Based Compensation Current
AccruedShareBasedCompensationCurrent
29000 USD
CY2013Q4 nsys Accrued Share Based Compensation Noncurrent
AccruedShareBasedCompensationNoncurrent
52000 USD

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0001104659-14-035775.txt Edgar Link pending
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