Nortech Systems Incorporated (NSYS) swung to a net loss for the quarter ended Mar. 31, 2017. The company has made a net loss of $0.01 million, or $ 0.01 a share in the quarter, against a net profit of $0.06 million, or $0.02 a share in the last year period.

Revenue during the quarter went down marginally by 2.18 percent to $28.32 million from $28.95 million in the previous year period. Total expenses were 99.57 percent of quarterly revenues, up from 99.24 percent for the same period last year. That has resulted in a contraction of 34 basis points in operating margin to 0.43 percent.

Operating income for the quarter was $0.12 million, compared with $0.22 million in the previous year period.

"Our first quarter revenue came in as expected due to lower backlog levels to start the quarter," said Rich Wasielewski, Nortech Systems' president and chief executive officer. "Our overall 90-day backlog began the first quarter down sequentially as our customers adjusted orders to their current demand."

Debt comes down 
Nortech Systems Incorporated has recorded a decline in total debt over the last one year. It stood at $12.69 million as on Mar. 31, 2017, down 17.35 percent or $2.66 million from $15.35 million on Mar. 31, 2016. Total debt was 22.73 percent of total assets as on Mar. 31, 2017, compared with 27.34 percent on Mar. 31, 2016. Debt to equity ratio was at 0.57 as on Mar. 31, 2017, down from 0.69 as on Mar. 31, 2016. Interest coverage ratio deteriorated to 0.86 for the quarter from 1.67 for the same period last year.