NORTECH SYSTEMS INCORPORATED: 10-K filed 2014-03-07

Name: NORTECH SYSTEMS INCORPORATED: 10-K filed 2014-03-07
Creator: NORTECH SYSTEMS INCORPORATED

What NORTECH SYSTEMS INCORPORATED reported in its annual report filed 2014-03-07 (fiscal FY 2013): 40 published measures, 80 facts as tagged in accession 0001047469-14-001953.

This filing

Form: 10-K (annual report)
Filed: 2014-03-07
Fiscal period: fiscal FY 2013
Accession: 0001047469-14-001953 on SEC EDGAR

Values are as tagged in this filing. A later filing can restate them; each measure links to its history page, which shows the latest-filed value per period. All NORTECH SYSTEMS INCORPORATED filings.

Reported measures

Total assets

Resources recognized on the balance sheet. Book assets are not the market value of the business.

Period	Value	Unit	Days
At 2013-12-31	46,075,421	USD
At 2012-12-31	44,514,899	USD

Total liabilities

Recognized obligations at the reporting date. The definition and scope differ from interest-bearing debt.

Period	Value	Unit	Days
At 2013-12-31	24,139,973	USD
At 2012-12-31	23,379,668	USD

Stockholders equity

The reported residual interest after liabilities. It is an accounting amount, not market capitalization.

Period	Value	Unit
At 2013-12-31	21,935,448	USD
At 2012-12-31	21,135,231	USD
At 2011-12-31	20,505,793	USD

Net income or loss

Reported profit or loss for the period. Check the filing for attribution, exceptional items and discontinued operations before comparing companies.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	787,376	USD	365
2012-01-01 to 2012-12-31	629,438	USD	366

Capital expenditure payments

Cash payments to acquire property, plant and equipment. This taxonomy concept does not capture every form of investment or acquisition.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	1,204,681	USD	365
2012-01-01 to 2012-12-31	4,432,793	USD	366

Retained earnings or deficit

Accumulated undistributed earnings or deficit at the reporting date. This balance is not cash available for distribution.

Period	Value	Unit	Days
At 2013-12-31	5,982,721	USD
At 2012-12-31	5,195,345	USD

Basic weighted-average shares

Time-weighted shares used for basic earnings per share. This denominator differs from shares outstanding at a single reporting date.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	2,742,992	shares	365
2012-01-01 to 2012-12-31	2,742,992	shares	366

Diluted weighted-average shares

Weighted-average shares used for diluted earnings per share. Potential shares are included under the applicable dilution rules, not simply added to outstanding shares.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	2,744,136	shares	365
2012-01-01 to 2012-12-31	2,742,992	shares	366

Basic earnings per share

Reported earnings or loss per basic common share or unit. Inspect attribution, share classes and restatements before comparing periods. This is not a market return.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	0.29	USD/shares	365
2012-01-01 to 2012-12-31	0.23	USD/shares	366

Diluted earnings per share

Reported earnings or loss per share under dilution rules. Antidilutive instruments may be excluded. A diluted value can equal the basic value without implying no potential dilution.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	0.29	USD/shares	365
2012-01-01 to 2012-12-31	0.23	USD/shares	366

Income tax expense or benefit

Current and deferred income tax expense or benefit for continuing operations. This accounting expense differs from cash taxes paid.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	300,000	USD	365
2012-01-01 to 2012-12-31	298,000	USD	366

Net property, plant and equipment

Carrying amount of property, plant and equipment after accumulated depreciation, depletion and amortization. It is not replacement cost or market value.

Period	Value	Unit	Days
At 2013-12-31	11,037,160	USD
At 2012-12-31	11,566,315	USD

Share-based compensation expense

Reported noncash expense for share-based payment arrangements. Noncash treatment does not mean the awards have no economic cost to shareholders.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	12,841	USD	365

Operating income or loss

Operating revenue less operating expenses for the reporting period. It excludes items outside the reported operating result and is not free cash flow.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	1,455,035	USD	365
2012-01-01 to 2012-12-31	1,460,598	USD	366

Current assets

Assets classified as current under the normal operating cycle or one-year boundary. Not all current assets can be converted immediately into cash.

Period	Value	Unit	Days
At 2013-12-31	34,915,842	USD
At 2012-12-31	32,691,371	USD

Interest expense

Borrowing costs recognized as interest expense. This is distinct from cash interest paid and may not include every capitalized borrowing cost.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	388,793	USD	365
2012-01-01 to 2012-12-31	440,175	USD	366

Current liabilities

Obligations classified as current under the operating-cycle or one-year boundary. The balance includes more than short-term borrowing.

Period	Value	Unit	Days
At 2013-12-31	19,366,538	USD
At 2012-12-31	20,131,441	USD

Current accounts payable

Current amounts owed to suppliers for goods and services received. This is one component of current liabilities, not all accrued obligations.

Period	Value	Unit	Days
At 2013-12-31	8,185,012	USD
At 2012-12-31	9,051,978	USD

Net current accounts receivable

Current customer receivables after the allowance for credit loss. The balance is not cash collected or a guarantee of collection.

Period	Value	Unit	Days
At 2013-12-31	16,030,848	USD
At 2012-12-31	13,607,933	USD

Operating expenses

Recurring operating costs under this accounting concept, generally excluding production costs included in cost of sales. Check filing presentation before combining expense subtotals.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	11,660,960	USD	365
2012-01-01 to 2012-12-31	10,933,722	USD	366

Net inventory

Inventory carrying amount after applicable valuation and LIFO reserves. It does not establish realizable selling proceeds or inventory turnover without other inputs.

Period	Value	Unit	Days
At 2013-12-31	17,427,470	USD
At 2012-12-31	17,664,862	USD

Gross profit

Revenue less the costs directly attributed to the goods or services sold. It precedes other operating expenses and is not net income.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	13,115,995	USD	365
2012-01-01 to 2012-12-31	12,394,320	USD	366

Common shares outstanding

Common shares outstanding at the reporting date. This point-in-time count differs from the weighted-average shares used for earnings per share and can exclude other share classes.

Period	Value	Unit	Days
At 2013-12-31	2,742,992	shares
At 2012-12-31	2,742,992	shares

Additional paid-in capital

Capital contributed above par value under this concept. It records historical contributions, not the current value of the equity or cash on hand.

Period	Value	Unit	Days
At 2013-12-31	15,738,233	USD
At 2012-12-31	15,725,392	USD

Accumulated other comprehensive income or loss

Cumulative other comprehensive items after tax, such as translation and unrealized hedging or securities effects. These amounts have not passed through net income.

Period	Value	Unit	Days
At 2013-12-31	-62,936	USD
At 2012-12-31	-62,936	USD

Long-term debt

Long-term borrowings under this concept, which can include the current portion depending on presentation. It is not total liabilities and may exclude leases and other obligations.

Period	Value	Unit	Days
At 2013-12-31	1,333,463	USD
At 2012-12-31	1,091,110	USD

Accumulated depreciation on property, plant and equipment

Cumulative depreciation, depletion and amortization recorded against property, plant and equipment. It measures cost allocation to date, not physical wear or market value.

Period	Value	Unit	Days
At 2013-12-31	18,943,393	USD
At 2012-12-31	17,411,472	USD

Other noncurrent assets

Noncurrent assets the filer does not present separately. The composition differs by filer and is described only in the filing.

Period	Value	Unit	Days
At 2013-12-31	122,419	USD
At 2012-12-31	257,213	USD

Other noncurrent liabilities

Noncurrent liabilities the filer does not present separately. The composition differs by filer and is described only in the filing.

Period	Value	Unit	Days
At 2013-12-31	244,521	USD
At 2012-12-31	155,328	USD

General and administrative expense

General and administrative costs reported under this concept, separate from selling expense. Filers group overhead differently, so compare presentation before comparing companies.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	6,859,778	USD	365
2012-01-01 to 2012-12-31	6,644,859	USD	366

Depreciation expense

Depreciation recognized for the period under this concept. It is a noncash allocation of asset cost and may exclude amortization and depletion reported elsewhere.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	2,004,940	USD	365
2012-01-01 to 2012-12-31	1,845,934	USD	366

Amortization of intangible assets

Amortization recognized on finite-lived intangible assets. It follows acquisition accounting and does not indicate the intangibles are losing usefulness at that rate.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	5,291	USD	365
2012-01-01 to 2012-12-31	16,569	USD	366

Other nonoperating income or expense

Other income or expense outside operations under this concept. The composition is filer-specific and can include one-time items.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	21,134	USD	365
2012-01-01 to 2012-12-31	-92,985	USD	366

Nonoperating income or expense

Total nonoperating income or expense, which can include interest, investment results and other items. A positive value is not operating profit.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	-367,659	USD	365
2012-01-01 to 2012-12-31	-533,160	USD	366

Deferred income tax expense or benefit

The deferred portion of income tax expense or benefit, arising from timing differences. It is not tax paid in the period.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	229,000	USD	365
2012-01-01 to 2012-12-31	-96,000	USD	366

Interest paid, net

Cash interest paid during the period, net of amounts capitalized where the filer reports it that way. It differs from interest expense recognized.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	366,335	USD	365
2012-01-01 to 2012-12-31	384,558	USD	366

Income taxes paid, net

Cash income taxes paid net of refunds during the period. It differs from income tax expense and can reflect prior years and estimated payments.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	187,300	USD	365
2012-01-01 to 2012-12-31	111,803	USD	366

Change in accounts receivable

The cash flow adjustment for the change in receivables during the period. A positive value under this concept means receivables grew and reduced operating cash flow.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	2,422,915	USD	365
2012-01-01 to 2012-12-31	-3,112,529	USD	366

Change in inventories

The cash flow adjustment for the change in inventories during the period. A positive value under this concept means inventory grew and reduced operating cash flow.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	-237,392	USD	365
2012-01-01 to 2012-12-31	-1,364,731	USD	366

Change in accounts payable

The cash flow adjustment for the change in payables during the period. A positive value under this concept means payables grew and added to operating cash flow.

Period	Value	Unit	Days
2013-01-01 to 2013-12-31	-1,137,447	USD	365
2012-01-01 to 2012-12-31	-2,211,460	USD	366

Inspect the source

Entity: NORTECH SYSTEMS INCORPORATED / CIK 0000722313
Captured: 2026-09-19T14:59:55.146Z
SEC response SHA-256: 82372088a9ad5ad85f5b6447d5a8b9fd2d3b7c09289a36b589756b4998faa5a6

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