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NORTECH SYSTEMS REPORTS RECORD EARNINGS IN FISCAL 1991

 NORTECH SYSTEMS REPORTS RECORD EARNINGS IN FISCAL 1991
 Company Continues Sales Growth in New Markets
 MINNEAPOLIS/ST. PAUL, Feb. 20 /PRNewswire/ -- Nortech Systems Incorporated (Electronic Bulletin Board: NSYS) reported net sales of $6,052,996 for the fiscal year ended Dec. 31, 1991, a 3 percent increase over net sales of $5,885,730 for fiscal 1990.
 Nortech Systems also reported a record profit of $530,413, or $.24 per share, for fiscal 1991. This represents a 359 percent increase over fiscal 1990 profits of $147,611, or $.07 per share.
 "We're pleased with our 1991 results, which demonstrate our continuing sales growth in non-computer related industries," said Quent Finkelson, president and CEO of Nortech Systems. "As expected, our performance in the non-computer markets more than offset our slower sales in the weaker mid-size computer and related computer peripheral industries. As we predicted, our fourth quarter sales in 1991 were lower than in 1990. However, our current backlog is at an all-time high, primarily due to the addition of several new major customers. As a result, we are anticipating solid revenue growth in 1992, beginning in the second quarter."
 Net sales for the fourth quarter ended Dec. 31, 1991, were $1,388,497, a 14 percent decrease from net sales of $1,609,170 for the same period of fiscal 1990.
 Highlights from 1991 include:
 -- Nortech purchased SMR Computer Services, Inc. from CPT Office Systems, Inc. SMR became a wholly owned subsidiary of Nortech Systems. SMR provides information management and maintenance for the health care industry.
 -- Nortech completed purchase of its 60,000-square-foot Bemidji, Minn. manufacturing facility in June. This assures Nortech of a permanent home in an excellent work environment with highly qualified and dedicated employees.
 -- GE Medical Systems recognized Nortech's long-term track record of continued improvement and excellent engineering support by naming Nortech its Number 1 Quality Supplier of cables and harnesses.
 Nortech Systems Incorporated is a contract manufacturer of wire harnesses, cable assemblies and electromechanical assemblies. Based in Wayzata, Minn., with manufacturing facilities in Bemidji, Nortech Systems supplies a wide spectrum of high technology and medical products manufacturers, including GE Medical Systems, Rosemount Inc. Control Systems Division, Cray Research, Control Data, Seagate Technologies, 3M, Comtrol, OTC and Unisys.
 Nortech Systems Incorporated is traded through the electronic bulletin board and on the local over-the-counter market.
 NORTECH SYSTEMS INCORPORATED
 CONDENSED BALANCE SHEETS
 (Audited)
 12/31/91 12/31/90
 Current assets $2,042,952 $1,661,173
 Property and other assets 931,854 50,406
 Total assets 2,974,806 1,711,579
 Current liabilities $794,965 $594,597
 Long-term debt 1,012,942 480,496
 Shareholders' equity 1,166,899 636,486
 Total liabilities and
 shareholders' equity $2,974,807 $1,711,579
 CONDENSED STATEMENTS OF OPERATIONS
 (Audited)
 Fourth Quarter Ended Year Ended
 12/31/91 12/31/90 12/31/91 12/31/90
 Sales $1,388,497 $1,609,170 $6,052,996 $5,885,730
 Cost of sales 1,030,625 1,291,095 4,786,337 4,944,998
 Gross profit $357,872 $318,075 $1,266,659 $940,732
 Selling, G&A and other $220,301 $283,122 $702,169 $720,535
 Misc. (income) expense,
 net (23,140) (22,165) (67,233) (9,900)
 Interest expense 31,548 17,617 101,310 82,486
 Net income (loss)
 from operations $129,163 $39,501 $530,413 $147,611
 Extraordinary gains $0 $2,437,644 $0 $2,503,778
 Net income $129,163 $2,477,145 $530,413 $2,651,389
 Income (loss) per share
 of common stock
 Before extr. gains 0.06 0.02 0.24 0.07
 Extr. gains 0.00 1.09 0.00 1.12
 Net income $0.06 $1.11 $0.24 $1.18
 Weighted average
 number of shares
 outstanding 2,240,794 2,240,794 2,240,794 2,240,794
 -0- 2/20/92
 /CONTACT: Quent Finkelson of Nortech, 612-473-4102, or Perry Ketchum of Ketchum & Metz, Inc., 612-349-2727, for Nortech/ CO: Nortech Systems Incorporated ST: Minnesota IN: SU: ERN


KH -- MN001 -- 0844 02/20/92 10:26 EST
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Date:Feb 20, 1992
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