7 unchanged sentences
Our breadth of manufacturing, technical expertise and experience make us attractive to our broad customer base.
−Removed: Our customers are original equipment manufacturers (“OEMs”) in the Aerospace and Defense, Medical and Industrial markets.
+Added: Our customers are original equipment manufacturers (“OEMs”) in the Medical, Aerospace and Defense and Industrial markets.
The diversity in the markets we serve is an advantage in dealing with the effects of fluctuations from the economy and competition.
6 unchanged sentences
Business Segment
+Added: The Company operates in the Medical, Aerospace & Defense and Industrial markets with over 50% of its revenue coming from Medical device and product manufacturing and related engineering services.
All of our operations fall under the Contract Manufacturing segment within the EMS industry.
18 unchanged sentences
We maintain a diversified customer base and expand into other capabilities and services when there is a fit with our core competencies and strategic vision.
−Removed: We concentrate our marketing efforts in the Aerospace and Defense, Medical and Industrial markets.
+Added: We concentrate our marketing efforts in the Medical, Aerospace & Defense and Industrial markets.
Our marketing strategy emphasizes our breadth, expertise and experience in each of our markets.
11 unchanged sentences
We currently purchase the majority of our electronic components globally and directly from electronic component manufacturers and large electronic distributors.
−Removed: On occasion, some of our components may be placed on a stringent allocation basis;
−Removed: however, we are not currently experiencing any major material purchasing or availability problems.
−Removed: M ajor Customers
+Added: In 2020, we, like many other companies in our industries, experienced significant supply chain and shipping disruptions.
+Added: Major Customers
Our largest customer has two divisions that together accounted for approximately 23.4% and 22.5% of net sales for the years ended December 31, 2020 and 2019, respectively.
18 unchanged sentences
Expenditures relating to compliance for operating facilities incurred in the past have not significantly affected our capital expenditures, earnings or competitive position.
−Removed: Government R egulation
+Added: Government Regulation
As a medical device manufacturer, we have additional compliance requirements.
5 unchanged sentences
Foreign Operations and Export Sales from Our Domestic Operations
−Removed: We have leased manufacturing facilities in Monterrey, Mexico and Suzhou, China with approximately $961,000 and $596,000 in long-term assets and $3,425,000 and $189,000 of Right of Use Assets at December 31, 2019, respectively.
+Added: We have leased manufacturing facilities in Monterrey, Mexico and Suzhou, China.
+Added: Monterrey, Mexico has approximately $681,000 and $961,000 in long-term assets, and $3,117,000 and $3,425,000 of Right of Use Assets at December 31, 2020 and 2019, respectively.
+Added: Suzhou, China has approximately $688,000 and $596,000 in long-term assets, and $307,000 and $189,000 of Right of Use Assets at December 31, 2020 and 2019, respectively.
Export sales from our domestic operations represented 2.1% and 3.1% of net sales the years ended December 31, 2020 and 2019, respectively.
1 unchanged sentence
Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and any amendments to those reports are available free of charge, as soon as reasonably practicable, after we electronically file such material with, or furnish it to, the United States Securities and Exchange Commission ("SEC").
−Removed: These reports are available on our website at http://www.
−Removed: nortechsys .com and on the SEC's website at http://www.sec.gov .
+Added: These reports are available on our website at http://www.nortechsys.com and on the SEC's website at http://www.sec.gov .
Information included on our website is not deemed to be incorporated into this Annual Report on Form 10-K.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.