Corporate Profile for Nortech Systems, dated August 28, 1998.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: Aug. 28, 1998
Company Name: Nortech Systems, Inc.
Address: 641 East Lake Street Suite 244
Wayzata, MN 55391
Main Telephone
Number: 612/473-4102
Internet Home
Page Address
(URL) www.nortechsys.com
Chief Executive
Officer: Quentin E. Finkelson
Chief Financial
Officer: Garry Anderly
Investor Relations
Contact: Sue Kesler
Business number: 612/473-0833
Home number: n/a
e-mail address: n/a
Public Relations
Contact: Brookside Communications Group, Warren Djerf
Business number: 612/920-3908
Home number: 612/929-0453
e-mail address: n/a
Trading Symbol/
Exchange: NSYS
Industry: Electronics Contract Manufacturing; Display monitors
for Imaging
Market Makers: R.J. Steichen
Suite 1100
801 Nicollet Mall
Minneapolis, MN 55402
John G. Kinnard & Co.
920 2nd Avenue South
Minneapolis, MN 55402-3318
Miller Johnson & Kuehn, Inc.
Suite 800
5500 Wayzata Blvd.
Golden Valley, MN 55416
Company description: Nortech Systems Incorporated manufactures wire harnesses, cable and electromechanical The use of electricity to run moving parts. Disk drives, printers and motors are examples. Electromechanical systems must be designed for the eventual deterioration of moving components that wear over time. The first TVs were electromechanical systems (see video/TV history). assemblies, printed circuit board assemblies and higher-level assemblies for a wide range of commercial and defense industries. Its Imaging Technologies division designs, manufactures and markets high-performance display monitors for medical imaging, document imaging, radar and industrial applications. Strategic acquisitions the past three years have broadened Nortech Systems' manufacturing capabilities, positioning the company to better capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the growing outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. trend across many industries. For fiscal 1997, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight were $36.4 million, a 39 percent increase from fiscal 1996. Net income for 1997 was $677,671, or $.28 per share, compared with $446,029, or $.19 per share, for 1996. For the six months ended June 30, 1998, net sales increased 14 percent, to $20.1 million, compared with $17.6 million for the same period in 1997. Net income for the six-month period ended June 30, 1998, was $434,270, or $.19 per share, compared with $300,007, or $.13 per share, for the same period in 1997. Based in Wayzata, Minnesota Wayzata (pronounced /waɪ.'zɛ.ɾə/) is a west suburb of Minneapolis located in Hennepin County, Minnesota, United States. Wayzata came into existence in the center of Chief Shakopee’s Indian village. , Nortech Systems' manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. are located in Aitkin, Bemidji, Fairmont and Merrifield, Minnesota; and Augusta, Wisconsin Augusta is a city in Eau Claire County, Wisconsin, United States. The population was 1,460 at the 2000 census. The city is located entirely within the Town of Bridge Creek. Geography Augusta is located at (44.679656, -91. . Imaging operations are located in Plymouth, Minnesota Plymouth is a city in Hennepin County, Minnesota, United States. The population was 68,978 at the 2005 census, making it the seventh largest city in the state of Minnesota. Plymouth operates under a council-manager form of government. . During 1997, the stock price fluctuated between $4.50 - $6.00 per share. CONTACT: Brookside Communications Group Warren Djerf, 612/920-3908 E-mail: brookwd@ix.netcom.com Fax: 612/920-3951 PROFILE: URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : include this keyword with URL address if corporate profile is going to Corporate Profile on the Net and is to hyperlinked. |
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