IEC Electronics Corp. (IEC)

[Knowledge is King]

IEC lands another contract; $7.4M


(DOW JONES) DJN: PRESS RELEASE: IEC Electronics Announces $7.4 Million Award

NEWARK, NY -- (MARKETWIRE) -- 12/22/10 --
IEC Electronics Corp. (NYSE Amex: IEC) announces that it has received an
additional order from one of its Military and Defense customers. This order
is valued at more than $7.4 million, and deliveries will commence during the
first quarter of IEC's fiscal 2012.
W. Barry Gilbert, Chairman of the Board and CEO, stated, "Our customer is a
well known, top 10 defense contractor. We appreciate their continuing
confidence in our attention to quality standards, evidenced by the placement
of additional orders with us. This award, an important satellite
communications modem used by the U.S. Department of Defense, entails initial
manufacturing, as well as full life cycle support. With developments like
this and the recent acquisition of Southern California Braiding, 2011 is
shaping up to be a very exciting year for IEC."
About IEC Electronics IEC Electronics Corporation is a premier provider of
electronic manufacturing services ("EMS") to advanced technology companies
primarily in the military and aerospace, medical, industrial and computing
sectors. The Company specializes in the custom manufacture of high
reliability, complex circuit cards, system level assemblies, a wide array of
custom cable and wire harness assemblies, and precision sheet metal
products. As a full service EMS provider, IEC is a world-class ISO
9001:2008, AS9100 and ISO13485 certified company. The AS9100 certification
enables IEC to serve the military and commercial aerospace markets. The
ISO13485 certification supports the quality requirements of medical device
markets. The Company is also ITAR registered and NSA approved under the
COMSEC standard. IEC Electronics is headquartered in Newark, NY (outside of
Rochester) and also has operations in Victor, NY, Rochester, NY,
Albuquerque, NM and Bell Gardens, CA. Additional information about IEC can
be found on its web site at www.iec-electronics.com.
The foregoing, including any discussion regarding the Company's future
prospects, contains certain forward-looking statements that involve risks
and uncertainties, including uncertainties associated with economic
conditions in the electronics industry, particularly in the principal
industry sectors served by the Company, changes in customer requirements and
in the volume of sales to principal customers, competition and technological
change, the ability of the Company to control manufacturing and operating
costs, satisfactory relationships with vendors. The Company's actual results
of operations may differ significantly from those contemplated by any
forward-looking statements as a result of these and other factors, including
factors set forth in the Company's 2010 Annual Report on Form 10-K and in
other filings with the Securities and Exchange Commission.
Contact: Susan E. Topel-Samek Vice President & CFO IEC Electronics Corp.
[phone] [e-mail] John Nesbett or Jennifer Belodeau
Institutional Marketing Services [phone] [e-mail]
or [e-mail]

[MikeDDKing]

IEC Announces the Acquisition of Southern California Braiding Company
On Friday December 17, 2010, 8:45 am

NEWARK, NY--(Marketwire - 12/17/10) - IEC Electronics Corp. (AMEX:IEC - News) announced the acquisition of Southern California Braiding Company, Inc. (SCB), a privately held company focused on providing high reliability wire and cable products to the military and defense market. SCB is located in Bell Gardens, California.

With annual revenue of approximately $20 million, SCB serves a number of leading customers in the military and defense market. At a purchase price of $25.0 million, the acquisition is expected to be immediately accretive to IEC shareholders. The purchase price has been financed by a credit facility of approximately $24.4 million, provided by Manufacturers and Traders Bank (M&T) and $600,000 in equity.

W. Barry Gilbert, Chairman of the Board and CEO, stated, "With this acquisition IEC has strengthened the foundation for achieving its objective to become one of the premier providers to high reliability contract manufacturing markets. SCB is a well run company with strong margins and it occupies an important niche in the military and defense market. They specialize in providing customers, primarily military 'primes' and NASA, with complex and highly reliable cables and wire harnesses built to withstand the demands of extreme environments. Despite forecasted military cutbacks, SCB supports programs that should be maintained and continue to grow. This acquisition further diversifies IEC's customer base and introduces us to new opportunities with existing customers. SCB complements our existing wire and cable business, IEC Electronics Wire and Cable, developed from our Val-U-Tech acquisition in June 2008. We are encouraged by the depth and quality of the organization and look forward to the expanded opportunities to serve our customers that this combination of two talented teams provides us. This is an excellent acquisition and we are delighted to welcome SCB into the IEC family."

About IEC Electronics
IEC Electronics Corporation is a premier provider of electronic manufacturing services ("EMS") to advanced technology companies primarily in the military and aerospace, medical, industrial and computing sectors. The Company specializes in the custom manufacture of high reliability, complex circuit cards, system level assemblies, a wide array of custom cable and wire harness assemblies, and precision sheet metal products. As a full service EMS provider, IEC is a world-class ISO 9001:2008, AS9100 and ISO13485 certified company. The AS9100 certification enables IEC to serve the military and commercial aerospace markets. The ISO13485 certification supports the quality requirements of medical device markets. The Company is also ITAR registered and NSA approved under the COMSEC standard. IEC Electronics is headquartered in Newark, NY (outside of Rochester) and also has operations in Victor, NY, Rochester, NY and Albuquerque, NM. Additional information about IEC can be found on its web site at www.iec-electronics.com.

The foregoing, including any discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, competition and technological change, the ability of the Company to control manufacturing and operating costs, satisfactory relationships with vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2010 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.
Contact:



Contact:
Susan E. Topel-Samek
Vice President & CFO
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett or Jennifer Belodeau
Institutional Marketing Services
[phone]
Email Contact

[MikeDDKing]

The IEC CEO exercised 43,000 options.

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7597028-1132-9820&type=sect&TabIndex=2&companyid=3839&ppu=%252fdefault.aspx%253fcik%253d49728

[MikeDDKing]

IEC is a great long term growth stock and is one of my favorites. They have 5 consecutive years of revenue growth and at least 6 consecutive years of operating earnings growth (I didn't look back further). In the most recent quarter they earned $0.17/share. I expect that in 2011 they will have diluted EPS of roughly $0.70+ per share which I think will push their stock price to the $8 range within the next 12 months.

[MikeDDKing]

I fully expect IEC to go higher but I try to capture big percentage moves in a small period of time. I've been following IEC for years and like it as a long term play. The shares I sold will likely be repurchased but I can't tell you if it will be tomorrow, next week, or next year. IMO IEC will be $8 within the next 12 months.

[dabreeze21]

There is absolutely no reason to sell at this point. Obviously patience is not one of your strengths.

[MikeDDKing]

I had a good size position in IEC going into today. I have been trimming today, however.

[dabreeze21]

Didn't you sell IEC a long time ago?

[Knowledge is King]

IEC reports Q4 $.17 vs $.09



(COMTEX) B: IEC Announces Strong Results for the Fourth Quarter and Fiscal
2010 ( Marketwire )

NEWARK, NY, Nov 09, 2010 (MARKETWIRE via COMTEX) --
Electronics Corp. (NYSE Amex: IEC)
-- Revenue for Q4 fiscal 2010 increased 49 percent to $27.3 million from
$18.3 million in Q4 2009
-- Operating income for Q4 fiscal 2010 increased 50 percent to $2.1
million or 7.8% of revenue as compared to $1.4 million or 7.7% for Q4
fiscal 2009
-- Revenue for fiscal 2010 increased 43 percent to $96.7 million from
$67.8 million for fiscal 2009
-- Operating income for fiscal 2010 increased 60 percent to $7.7 million
or 8% of revenue as compared to $4.8 million or 7% of revenue for
fiscal 2009

IEC Electronics Corp. (NYSE Amex: IEC) announced its results for the
fourth quarter and fiscal year ending September 30, 2010.

For the quarter, the Company reported revenue of $27.3 million and
operating income of $2.1 million. This compares with revenue of $18.3
million and operating income of $1.4 million for the same quarter of
fiscal 2009. Fourth quarter net income after tax was $1.6 million, or
$0.17 per diluted share compared to net income after tax of $0.9
million or $0.09 per diluted share in the prior year period.

For fiscal year 2010, IEC reported revenue of $96.7 million and
operating income of $7.7 million. This compares to revenue of $67.8
million and operating income of $4.8 million for fiscal 2009. Net
income after tax was $4.7 million, or $0.48 per diluted share, for
year end 2010 compared to net income after tax of $5.0 million or
$0.52 per diluted share, for fiscal 2009. The $0.52 per diluted share
included a tax benefit of $1.9 million (equivalent to $0.20 per
share). Excluding the $1.9 million tax benefit, the net income after
tax for 2009 would have been $3.1 million, or $0.32 per diluted
share.

W. Barry Gilbert, Chairman of the Board and CEO, stated, "2010 was a
strong year for us as we continue to improve our operating
performance and make solid inroads into the Medical sector. Our
backlog grew substantially despite continued economic turbulence. The
fiscal 2010 closing backlog was over $90.0 million as compared to a
fiscal 2009 closing backlog of $41.4 million. $20 million of the
backlog increase was due to the General Technology and Celmet
acquisitions made in December 2009 and July 2010 respectively. More
than half of the increase was attributable to organic growth. Our
backlog consists of two categories: orders and firm forecasted
commitments."

For the fourth quarter of 2010, IEC reported earnings before
interest, taxes depreciation and amortization (EBITDA) of $3.0
million or $0.31 per diluted share, compared to EBITDA of $1.5
million or $0.16 per diluted share in the fourth quarter of 2009. For
the fiscal year 2010, IEC reported EBITDA of $9.1 million or $0.95
per diluted share as compared to $5.4 million or $0.56 per diluted
share for fiscal 2009. The Company views EBITDA as a useful measure
of its operating performance as it eliminates the aberrations
produced by its net operating loss carryforward (NOL), and enables
the investment community to better evaluate long-term profitability
and cash being generated by the Company. IEC has a remaining NOL for
federal and state taxes of approximately $34 million.

"Our customer mix has changed somewhat during 2010," Gilbert said.
"The Medical sector significantly expanded and now represents 12.6%
of revenue ($12.2 million), increasing from 7.7% of revenue ($5.2
million) in fiscal 2009. The Military sector remains strong. It
represents 49.0% of revenue ($47.5 million) in fiscal 2010, up from
43.4% of revenue ($29.4 million) in fiscal 2009. Sales to our
Industrial customer base increased to $19.4 million, representing
20.0% of 2010 revenue, down proportionally from 24.3% of revenue
($16.5 million) in fiscal 2009. The Industrial sector is recovering
slowly, and we are pleased with the results we have achieved in this
sector. The Aerospace sector also decreased as a percentage of our
business to 9.2% of revenue in fiscal 2010 from 12.0% of revenue in
fiscal 2009, but increased in absolute dollars to $8.9 million from
$8.1 million.

"Fiscal 2010 saw IEC successfully integrate the acquisitions of
General Technology and Celmet," Gilbert continued. "These two
acquisitions have improved the strategic position of the Company by
broadening our product offerings and diversifying our customer base.
We continue to look for companies that could provide a good fit with
our strategic vision. Without any acquisitions, we expect revenue
growth from our existing business of approximately 17% for fiscal
2011, and expect both our net income and EBITDA to grow
commensurately. We believe our Military and Aerospace sectors will
remain strong but anticipate that the Industrial sector is likely to
remain under pressure for most of 2011. Finally, we believe we can
continue to expand our presence in the Medical sector, which, as
mentioned above, grew nicely between 2009 and 2010.

"As we have said previously, we firmly believe the Company is
continuing to move in the right direction and we are confident that
we are creating future value for our customers and shareholders and
opportunity for our employees."

IEC Electronics Corporation provides contract electronics
manufacturing services to advanced technology companies primarily in
the military, aerospace, communications, medical, and industrial
sectors. The Company's ultra high reliability capabilities include:
design, prototype and volume printed circuit board assembly, material
procurement and control, manufacturing and test engineering support,
systems build, final packaging and distribution. As a full service
EMS provider, AS9100, IEC is ISO-9001:2008 and ISO 13485 registered,
and a NSA approved supplier under the COMSEC standard. The Company is
headquartered outside Rochester, New York and has operations in
Rochester, New York; Victor, New York; and Albuquerque, New Mexico.
Additional information about IEC can be found on its web site at
www.iec-electronics.com.

The foregoing, including any discussion regarding the Company's
future prospects, contains certain forward-looking statements that
involve risks and uncertainties, including uncertainties associated
with economic conditions in the electronics industry, particularly in
the principal industry sectors served by the Company, changes in
customer requirements and in the volume of revenue to principal
customers, the ability of the Company to assimilate acquired
businesses and to achieve the anticipated benefits of such
acquisitions, competition and technological change, the ability of
the Company to control manufacturing and operating costs and
satisfactory relationships with vendors.

The Company's actual results of operations may differ significantly
from those contemplated by any forward-looking statements as a result
of these and other factors, including factors set forth in our most
recent Form 10-Q and Annual Report and Form 10-K and in other filings
with the Securities and Exchange Commission.
IEC ELECTRONICS CORP - CONSOLIDATED
BALANCE SHEET
SEP 30, 2010 AND SEP 30, 2009
(In Thousands)
SEP 30, 2010 SEP 30, 2009
ASSETS
CURRENT ASSETS
Cash 0 0
Accounts Receivable 16,315 10,354
Inventories 12,068 6,491
Deferred Income Taxes 3,359 2,050
Other Current Assets 234 110
------------ ------------
Total Current Assets 31,976 19,005
------------ ------------
NET FIXED ASSETS 13,098 2,391
NON-CURRENT ASSETS
Intangible Asset 331 0
Deferred Income Taxes 10,113 13,026
Other Non-Current Assets 164 47
------------ ------------
TOTAL ASSETS 55,682 34,469
============ ============
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings 2,899 1,147
Accounts Payable 8,145 4,183
Accrued Payroll and Related Taxes 2,279 1,564
Other Accrued Expenses 941 531
Other Current Liabilities 0 190
------------ ------------
Total Current Liabilities 14,264 7,615
------------ ------------
LONG TERM DEBT 15,999 6,600
------------ ------------
TOTAL LIABILITIES 30,263 14,215
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares
Issued - 10,100,589, Outstanding - 9,087,716
Common stock, par value $.01 per share 101 97
Treasury Shares at Cost - 1,012,873 shares (1,413) (1,413)
Additional Paid-in Capital 41,138 40,632
Retained Earnings (14,407) (19,062)
------------ ------------
TOTAL SHAREHOLDER'S EQUITY 25,419 20,254
------------ ------------
TOTAL LIABILITIES & EQUITY 55,682 34,469
============ ============
IEC ELECTRONICS CORP - CONSOLIDATED
STATEMENT OF INCOME
FOR QUARTER END & YTD SEP 30, 2010 AND SEP 30, 2009
(In Thousands)
ACTUAL PRIOR ACTUAL PRIOR
QUARTER QUARTER YTD YTD
SEP 30, 2010 SEP 30, 2009 SEP 30, 2010 SEP 30, 2009
Sales 27,287 18,273 96,674 67,811
Cost of Sales 22,511 15,077 80,411 56,985
------------- ------------- ------------- -------------
Gross Profit 4,776 3,196 16,263 10,826
Less: Operating
Expenses
Selling & G&A 2,654 1,792 8,576 6,006
Other 0 0 0 0
------------- ------------- ------------- -------------
Total Operating
Expenses 2,654 1,792 8,576 6,006
------------- ------------- ------------- -------------
Operating Profit 2,122 1,404 7,687 4,820
Interest and
Financing
Other
Expense/(Income) (387) (70) (182) (287)
------------- ------------- ------------- -------------
Net Income before
Income Taxes 2,289 1,389 7,055 4,718
Provision for
/(benefit
from)Income
Tax 661 486 2,400 (238)
------------- ------------- ------------- -------------
Net Income 1,628 903 4,655 4,956
============= ============= ============= =============
Basic Earnings
Per Share $ 0.18 $ 0.10 $ 0.52 $ 0.57
Diluted Earnings
Per Share $ 0.17 $ 0.09 $ 0.48 $ 0.52
Basic Shares 9,086,793 8,683,226 8,990,180 8,728,930
Diluted Shares 9,599,377 9,621,288 9,608,174 9,553,526
IEC ELECTRONICS CORP - CONSOLIDATED
RECONCILIATION OF NET INCOME TO EBITDA
FOR QUARTER END & YTD SEP 30, 2010 AND SEP 30, 2009
(In Thousands)
ACTUAL PRIOR ACTUAL PRIOR
QUARTER QUARTER YTD YTD
SEP 30, 2010 SEP 30, 2009 SEP 30, 2010 SEP 30, 2009
Net Income 1,628 903 4,655 4,956
Provision for /
(benefit from)
Income Tax 661 486 2,400 (238)
Depreciation and
Amortization
Expense 499 67 1,224 282
Net Interest
Expense / (Income) 220 85 814 389
------------ ------------ ------------ ------------
EBITDA 3,008 1,541 9,093 5,389
------------ ------------ ------------ ------------
Basic Earnings Per
Share $ 0.33 $ 0.18 $ 1.01 $ 0.62
Diluted Earnings
Per Share $ 0.31 $ 0.16 $ 0.95 $ 0.56
Basic Shares 9,086,793 8,683,226 8,990,180 8,728,930
Diluted Shares 9,599,377 9,621,288 9,608,174 9,553,526
Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett/Jennifer Belodeau
Institutional Marketing Services
[phone]
Email Contact

SOURCE: IEC Electronics
http://www2.marketwire.com/mw/emailprcntct?id=0CB245FCF54B9B27
http://www2.marketwire.com/mw/emailprcntct?id=B9C2DCD1EC0D4047
Copyright 2010 Marketwire, Inc., All rights reserved.
*** end of story ***

[MikeDDKing]

IEC is one of my favorite stocks. They have a long term history of great growth. I think they have good odds of moving 50% in the next year and more in 2012 as I expect growth to continue. Here is some more information to back up my interest in IEC:

1. Recently, they have received several large orders. They received a $5.6M order on 9/8 and a $5.1M order on 8/31.

2. They made $0.13/share in the most recent quarter and I'm expecting next quarter to be the same. I estimate fiscal 2011 earnings at $0.65+. With a last trade at $5.27 that means they are trading at a low forward PE of roughly 8.

3. They have a history of making acquisitions that are accretive to EPS. They recently made a small acquisition and I expect that they will make more.

4. They have excellent cashflow which is related to the fact that they aren't paying taxes yet are accruing them on their income statement.

5. Their customers are largely military and medical customers. These customers have them build complex electronics in relatively low volume. This type of business is sticky and is recession resistant.

[MikeDDKing]

Jeffrey T. Schlarbaum Named President, IEC Electronics; Donald S. Doody Named Executive Vice President
On Thursday October 7, 2010, 12:39 pm

NEWARK, NY--(Marketwire - 10/07/10) - IEC Electronics Corp. (AMEX:IEC - News) has announced the appointment of Jeffrey T. Schlarbaum as President, IEC Electronics and the appointment of Donald S. Doody as Executive Vice President, effective October 1, 2010.

W. Barry Gilbert, IEC Chairman and Chief Executive Officer, commented, "2010 was an excellent year for the Company with large increases in sales, earnings growth and expanded market share. It is with great pleasure that I announce the promotion of Jeff Schlarbaum and Don Doody to the position of President of IEC Electronics and Executive Vice President of IEC Electronics, respectively. These promotions are in recognition of their contributions to the success of our Company and, perhaps more importantly, reflect our confidence in their abilities to help drive IEC's future growth.

"Jeff came to IEC six years ago from Plexus Corp. as Vice President of Sales and Marketing. Bringing his significant industry experience, Jeff established a robust sales structure which has served us well over time. In 2008, in acknowledgment of his contributions, he was promoted to Executive Vice President of IEC Electronics and President of the contract manufacturing business. Under his leadership, our contract manufacturing business continued to grow, expanding into new sectors which have proven to be most successful. In his new role, Jeff will expand his area of responsibility to include the growth of all of IEC's business units.

"Don joined the IEC team in 2004 as Vice President of Operations. Prior to joining IEC, Don held a number of management positions at GE, MCMS and Plexus. Don has a proven track record implementing lean training and six sigma principles to drive manufacturing improvement. He applied those skills at IEC, putting into place a manufacturing format that has enabled the company to achieve some of the highest manufacturing margins in the contract manufacturing industry. In 2008, Don was promoted to Sr. Vice President of Operations, where he expanded our core platform to the companies we have acquired. As a result of his leadership we have continued to generate some of the highest returns in the industry. In his new role, Don will be responsible for our Company's continued operational improvement across IEC's operating units."

Mr. Gilbert concluded, "I congratulate Jeff and Don on these well deserved promotions and look forward to our continued work together toward IEC's ongoing success."

About IEC Electronics
IEC Electronics Corporation provides contract electronic manufacturing services to advanced technology companies primarily in the military and aerospace, medical, industrial and computing sectors. The Company's ultra high reliability capabilities include: design, prototype and volume circuit board assembly, material procurement and control, manufacturing and test engineering support, systems build, final packaging and distribution. IEC Wire and Cable, Inc., a wholly owned subsidiary, is a premier wire and cable harness manufacturer specializing in the military, medical, industrial and transportation sectors. As a full service EMS provider, IEC is AS9100, ISO-9001:2000, and ISO-13485 registered, and an NSA approved supplier under the COMSEC standard. The Company is headquartered and has a plant in Newark, New York and also has operations in Rochester, New York, Victor, New York and Albuquerque, New Mexico. Additional information about IEC can be found on its web site at www.iec-electronics.com.
Contact:



Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett/Jennifer Belodeau
Institutional Marketing Services
[phone]
Email Contact

[white_tiger]

Nice stuff

I own KILC MPAA AEY. Plan to interview AEY soon.

Maj

[MikeDDKing]

Thanks for posting that.

By the way, you might also want to watch the SwingTrade board and the SwingTrade Portfolio which contains IEC.

http://investorshub.advfn.com/boards/board.aspx?board_id=1781

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54982418

I'm mostly interested in growth stocks in the US and I know you have an interest there too.

[white_tiger]

Notes

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54991604

[MikeDDKing]

Here is a link to the presentation today which I thought was a very good presentation:

http://www.vcall.com/console/ConsoleFrameset.asp?ID=161633&brand=Vcall&ClickType=&playerID=1&urlID=159800&sessionID=E4463CF85FF64813&email=[e-mail]&tck=none

[MikeDDKing]

IEC has a new investor presentation out. Based upon this presentation I'm estimating fiscal Q4 (September) diluted EPS of $0.16 which is great for a $5 stock. Earnings should continue to grow in fiscal 2011.

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7471446-4734-7565&type=sect&TabIndex=2&companyid=3839&ppu=%252fdefault.aspx%253fcik%253d49728

[MikeDDKing]

IndustryWeek Magazine Names IEC Electronics Newark Facility "Best Plants" Finalist
On Wednesday September 15, 2010, 8:30 am

NEWARK, NY--(Marketwire - 09/15/10) - IEC Electronics Corp (AMEX:IEC - News) announced that its Newark Plant has been selected by IndustryWeek magazine as one of the top 20 plants in North America. IndustryWeek's Best Plants Award Program, which started 21 years ago, is an annual salute to outstanding manufacturing facilities who have demonstrated leadership in the effort to increase competitiveness, enhance customer satisfaction, and create stimulating and rewarding work environments.

"Lean manufacturing, combined with Six Sigma quality principles, continues to drive significant improvements in all of our manufacturing and business processes, commensurate with our vision of Absolutely, Positively Perfect and On-Time(sm)," commented Don Doody, Senior Vice President of Operations. "Our team comes to work committed to improving our operational process every day. This award recognizes the hard work and attention to detail put forth by all of our employees over the last several years. We are pleased to have our efforts and accomplishments recognized by IndustryWeek with our inclusion as a finalist for the 2010 Best Plants Award."

IndustryWeek's Best Plants Award Program is an annual celebration of world-class manufacturing and continuous improvement practices, and demonstrates that manufacturing excellence continues to flourish across North America. Referring to the 2010 Finalists, IndustryWeek stated that "manufacturing excellence perseveres even in the wake of turbulent economic conditions."

About IEC Electronics
IEC Electronics Corporation provides contract electronic manufacturing services to advanced technology companies primarily in the military and aerospace, medical, industrial and computing sectors. The Company's ultra high reliability capabilities include: design, prototype and volume circuit board assembly, material procurement and control, manufacturing and test engineering support, systems build, final packaging and distribution. As a full service EMS provider, IEC is AS9100, ISO-9001:2000, and ISO-13485 registered, and an NSA approved supplier under the COMSEC standard. The Company is headquartered and has a plant in Newark, New York and also has operations in Rochester, New York, Victor, New York, and Albuquerque, New Mexico. Additional information about IEC can be found on its web site at www.iec-electronics.com.

The foregoing, including any discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, competition and technological change, the ability of the Company to control manufacturing and operating costs, satisfactory relationships with vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2009 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.
Contact:



Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett/Jennifer Belodeau
Institutional Marketing Services
[phone]
Email Contact

[MikeDDKing]

IEC is presenting on September 24th.

Western New York Investors Conference Announces Participating Companies for 2010
September 13, 2010 10:32 AM Eastern Daylight Time

In its seventh year, the conference continues to generate investor interest throughout the United States

BUFFALO, N.Y.--(BUSINESS WIRE)--The Founding Committee of the Western New York Investors Conference (WNYIC) announced today that its seventh investor conference is scheduled from 9:00 a.m. until 3:00 p.m. on Friday, September 24, 2010 at The Hyatt Regency in Buffalo, N.Y.

The WNYIC provides an excellent opportunity for investors and analysts from within and outside the region to discover the diverse investment opportunities in Western and Upstate New York as well as others from outside the region. Attendees can meet the senior management of the presenting companies in one convenient location to better understand their strategies, capabilities, and outlooks.

Many of the presenting companies have grown at a faster pace than their regional economies through diversification, distinct competitive strategies, and strong management teams. These publicly-traded companies have customers in national and international markets and span a broad range of industries, years in business, and market capitalizations.

The conference was organized in 2002 by the public companies in the region to help promote Western and Upstate New York and its wide variety of highly-successful public companies. The WNYIC Founding Committee organizes and executes the conference. It is comprised of representatives from The Bullfinch Fund of WNY (BWNYX), Constellation Brands Inc. (NYSE: STZ), Eastman Kodak Company (NYSE: EK), Graham Corporation (NYSE Amex: GHM), Gibraltar Industries (NASDAQ: ROCK), Greatbatch, Inc. (NYSE: GB), Kei Advisors LLC, M&T Bank Corp. (NYSE: MTB) and Sovran Self Storage, Inc. (NYSE: SSS).

At this year’s WNYIC, 16 companies will present their strategies, financial performance, and future outlook to investors and analysts from throughout the United States.

Companies making presentations this year include the following:
Astronics Corporation NASDAQ: ATRO Greatbatch Inc NYSE:GB
Columbus McKinnon NASDAQ: CMCO IEC Electronics NYSE Amex: IEC
Community Bank Systems NASDAQ: CBU M&T Bank Corporation NYSE: MTB
Computer Task Group NASDAQ:CTGX MOD-PAC Corporation NASDAQ: MPAC
Ecology & Environment NASDAQ: EEI Rand Capital Corporation NASDAQ: RAND
Evans Bancorp NASDAQ: EVBN Sovran Self Storage NYSE: SSS
Gibraltar Industries NASDAQ: ROCK

Ultralife Corporation
NASDAQ: ULBI
Graham Corporation NYSE Amex: GHM Virtualscopics Inc NASDAQ: VSCP

Institutional investors, analysts and financial advisors who would like to attend the conference can register online at www.wnyinvest.org or contact Dustin Alvino, Kei Advisors LLC at 716-843-3853/[e-mail]. There is no attendance fee for the conference.

The site for the 2010 conference is the Hyatt Regency Hotel, 2 Fountain Plaza, Buffalo, NY 14202.

Sponsors for this year’s conference include: Deloitte, Business Wire, Freed, Maxick & Battaglia, Jaeckle Fleischmann & Mugel, LLP, Bowne of Cleveland, Bob Wright Creative, The New York Stock Exchange, Constellation Brands, Inc., Kei Advisors LLC, ViaVid Communications, Weir Financial Resources and Precision IR.

ABOUT THE CONFERENCE

The Western New York Investors Conference was formed by the public companies in the Western New York region to broaden the exposure of the quality and potential of these businesses with headquarters or major operations in the area with an audience of institutional investors, analysts and financial advisors. These companies feature a variety of industries, represent a full range of market capitalization and have, in most cases, well exceeded the economic growth of the region through diversification, distinct competitive strategies and strong management teams.

For more information and conference registration please log on to www.wnyinvest.org.

[MikeDDKing]

IEC Electronics Announces $5.6 million Award
On Wednesday September 8, 2010, 8:30 am EDT

NEWARK, NY--(Marketwire - 09/08/10) - IEC Electronics Corp. (AMEX:IEC - News) announced that it has received an order valued at more than $5.6 million from one of its medical customers. Deliveries will commence November 1, 2010 during IEC's fiscal first quarter.

W. Barry Gilbert, Chairman and CEO, stated, "This is an important order for us. The Medical sector is a strategic growth area for IEC and this order indicates that our investment in targeting medical device customers the last couple of years is beginning to pay off.

"We regularly receive orders from our customers in all sectors in amounts between $1-$3 million dollars and believe it's important to share with you news of larger orders. Two months ago we received a $6.1 million order from a Military and Defense customer. Likewise, last week we announced a meaningful order of $5.1 million from a second Military and Defense customer, and now this significant $5.6 million order from a Medical customer. With this order activity, we continue to see notable growth in our backlog. Our platform is a simple one; we drive 'Absolutely Positively, Perfect and On Time(SM)' performance and as a result we are being continually rewarded by both our existing and new customers. Fiscal 2011 is shaping up to be another good year for IEC."

About IEC Electronics
IEC Electronics Corporation provides contract electronic manufacturing services to advanced technology companies primarily in the military and aerospace, medical, industrial and computing sectors. The Company's ultra high reliability capabilities include: design, prototype and volume circuit board assembly, material procurement and control, manufacturing and test engineering support, systems build, final packaging and distribution. As a full service EMS provider, IEC is AS9100, ISO-9001:2000, and ISO-13485 registered, and an NSA approved supplier under the COMSEC standard. The Company is headquartered outside of Rochester, New York and also has operations in Victor, New York and Albuquerque, New Mexico. Additional information about IEC can be found on its web site at www.iec-electronics.com.

The foregoing, including any discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, competition and technological change, the ability of the Company to control manufacturing and operating costs, satisfactory relationships with vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2009 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.
Contact:



Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett/Jennifer Belodeau
Institutional Marketing Services
[phone]
Email Contact

[MikeDDKing]

IEC Electronics Announces $5.1 Million Award
On Tuesday August 31, 2010, 9:00 am

NEWARK, NY--(Marketwire - 08/31/10) - IEC Electronics Corp. (AMEX:IEC - News) announced that it has received an order valued at more than $5.1 million from one of its Military and Defense customers. Deliveries will commence April 1, 2011 during IEC's fiscal third quarter and will be completed by March, 2012.

W. Barry Gilbert, Chairman and CEO, stated, "We are pleased to have received this order from one of General Technology Corporation's (GTC) customers. This is an exclusive program for the helicopter missile launch platform which is ultimately being used by the U.S. Department of Defense. We view this order to be a testament to the excellent relationship GTC has with its customer, with this particular customer being one of the top five military and defense contractors. IEC acquired GTC from Crane Corporation in late December 2009, and continues to extend the company's breadth of manufacturing of complicated electronic assemblies that need to be 'Absolutely Perfect and On Time(SM).'"

About IEC Electronics
IEC Electronics Corporation provides contract electronic manufacturing services to advanced technology companies primarily in the military and aerospace, medical, industrial and computing sectors. The Company's ultra high reliability capabilities include: design, prototype and volume circuit board assembly, material procurement and control, manufacturing and test engineering support, systems build, final packaging and distribution. As a full service EMS provider, IEC is AS9100, ISO-9001:2000, and ISO-13485 registered, and an NSA approved supplier under the COMSEC standard. The Company is headquartered outside of Rochester, New York and also has operations in Victor, New York and Albuquerque, New Mexico. Additional information about IEC can be found on its web site at www.iec-electronics.com.

The foregoing, including any discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, competition and technological change, the ability of the Company to control manufacturing and operating costs, satisfactory relationships with vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2009 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.
Contact:



Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett/Jennifer Belodeau
Institutional Marketing Services
[phone]
Email Contact

[MikeDDKing]

IEC Announces the Acquisition of Celmet Corporation
On Tuesday August 3, 2010, 2:47 pm

NEWARK, NY--(Marketwire - 08/03/10) - IEC Electronics Corp. (AMEX:IEC - News) announced it has acquired all the assets of Celmet Corporation, a privately held manufacturer of metal chassis and assemblies located in Rochester, N.Y., in a cash transaction for approximately $2 million. For the year ending December 31, 2009, Celmet had revenue of just over $3.6 million.

W. Barry Gilbert, Chairman of the Board and CEO, stated, "We are pleased to finalize this purchase as we continue to build our company. IEC outsources millions of dollars of chassis assemblies annually, at times encountering quality and delivery issues. Celmet is a successful, well managed small business, serving customers similar to those of IEC in the military and industrial markets. The acquisition leverages the existing customer base of both companies and enables us to extend our capabilities in terms of products and services we can offer our customers.

"Mr. Tom Guliani, who has had many years of experience in metal chassis fabrication, will be our Director of Operations at Celmet responsible for the ongoing operation of the business."

About IEC Electronics
IEC Electronics Corporation provides contract electronic manufacturing services to advanced technology companies primarily in the military and aerospace, medical, industrial and computing sectors. The Company's ultra high reliability capabilities include: design, prototype and volume circuit board assembly, material procurement and control, manufacturing and test engineering support, systems build, final packaging and distribution. As a full service EMS provider, IEC is AS9100, ISO-9001:2000, and ISO-13485 registered, and an NSA approved supplier under the COMSEC standard. The Company is headquartered outside of Rochester, New York and also has operations in Victor, New York and Albuquerque, New Mexico. Additional information about IEC can be found on its web site at www.iec-electronics.com.

The foregoing, including any discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, competition and technological change, the ability of the Company to control manufacturing and operating costs, satisfactory relationships with vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2009 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.
Contact:



Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett/Jennifer Belodeau
Institutional Marketing Services
[phone]
Email Contact

[BL0ODLESS]

Missed the bottom to cover, but covered my shorts between $4.38-$4.42. Turned the profits around and bought back in @ $4.28. Looking good from here, I expect to break above $5.50 before end of the fiscal year in September.

[MikeDDKing]

IEC to Join Russell Microcap Index
On Monday June 28, 2010, 10:48 am

NEWARK, NY--(Marketwire - 06/28/10) - IEC Electronics Corp. (AMEX:IEC - News) announced that it has joined the new Russell Microcap® Index according to the list posted today at www.russell.com.

Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.

W. Barry Gilbert, Chairman and Chief Executive Officer of IEC Electronics commented, "It is an exciting accomplishment to have been selected for inclusion in the Russell Microcap® Index. We have enjoyed a solid growth trajectory and strong financial performance over the last five years, and believe our selection by Russell as a benchmark company in the microcap sector further validates our achievements and potential for future growth."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. More than $3.9 trillion in assets are currently benchmarked to them.

Annual reconstitution of the Russell Indexes captures the 4,000 largest U.S. stocks at the end of May, ranking them by total market capitalization to create the Russell 3000® Index and Russell Microcap® Index. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market driven set of benchmarks in order to evaluate outside investment managers.

Total returns data for the Russell Microcap® and other Russell indexes is available at http://www.russell.com/indexes/performance/default.asp.

About IEC

IEC Electronics Corporation provides contract electronic manufacturing services to advanced technology companies primarily in the military and aerospace, medical, industrial and computing sectors. The Company's ultra high reliability capabilities include: design, prototype and volume circuit board assembly, material procurement and control, manufacturing and test engineering support, systems build, final packaging and distribution. As a full service EMS provider, IEC is AS9100 and ISO-9001:2000 registered, and a NSA approved supplier under the COMSEC standard. The Company is headquartered outside of Rochester, New York and also has operations in Victor, New York and Albuquerque, New Mexico. Additional information about IEC can be found on its web site at www.iec-electronics.com.

About Russell:

Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has $179 billion in assets under management as of March 31 2010, and serves individual, institutional and advisor clients in more than 40 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.
Contact:



Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett/Jennifer Belodeau
Institutional Marketing Services
(203) 972 - 9200
Email Contact

[MikeDDKing]

IEC was added to the Russell Microcap index:

http://www.russell.com/indexes/membership/Reconstitution/Reconstitution_changes.aspx

[MikeDDKing]

IEC Electronics Announces $6.1 Million Award
On Thursday June 24, 2010, 8:15 am EDT

NEWARK, NY--(Marketwire - 06/24/10) - IEC Electronics Corp (AMEX:IEC - News) announces that it has received an order from one of its Military and Defense customers valued at more than $6.1 million. Deliveries will commence December 1, 2010 during IEC's fiscal first quarter and will be completed by December 2012.

Jeffrey T. Schlarbaum, Executive Vice President & President of IEC Contract Manufacturing, stated, "We are pleased to have this opportunity to be the exclusive turnkey supplier for an important satellite communications modem used by the U.S. Department of Defense. Our customer is a well known, top 100 defense contractor. Over time, we have developed an excellent track record by building some of their most complicated electronic assemblies which conform to the industry's most rigorous quality standards. As a part of this award, we will not only manufacture the complete system, but we will also provide full life cycle support including direct order fulfillment, as well as repair services."

About IEC
IEC Electronics Corporation provides contract electronic manufacturing services to advanced technology companies primarily in the military and aerospace, medical, industrial and computing sectors. The Company's ultra high reliability capabilities include: design, prototype and volume circuit board assembly, material procurement and control, manufacturing and test engineering support, systems build, final packaging and distribution. As a full service EMS provider, IEC is AS9100 and ISO-9001:2000 registered, and a NSA approved supplier under the COMSEC standard. The Company is headquartered outside of Rochester, New York and also has operations in Victor, New York and Albuquerque, New Mexico. Additional information about IEC can be found on its web site at www.iec-electronics.com.

The foregoing, including any discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, competition and technological change, the ability of the Company to control manufacturing and operating costs, satisfactory relationships with vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2007 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.
Contact:



Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)
[phone]
Email Contact

[BL0ODLESS]

Was gonna cover my shorts today but I think I'll let them stand. Great company, but what a POS stock. Love it!

[BL0ODLESS]

That may be, but management has done a terrible job of updating PR's to increase public exposure. They definately know how to run a company... they just don't know how to run a publicly traded one.

[MikeDDKing]

I'd say they have had their act together for quite some time.

[BL0ODLESS]

Looks like IEC is finally getting their act together. May keep or flip these shares depending on the EPS and guidance for the remainder of the year. Great stock to day trade here. Moderate/low float and small enough volume to play with the numbers and get a buyer.

[BL0ODLESS]

Link -

http://www.marketwatch.com/story/iec-announces-earnings-date-2010-04-12?reflink=MW_news_stmp

[BL0ODLESS]

Made a nice chunk of change last quarter on the earnings play.

Earnings out Monday, April 19th. No indication of pre- or post- trading day. Expecting good things here, should see a $1 jump minumum, as with basically all other earnings releases this past year.

[BL0ODLESS]

Edit -

IEC also has a considerable NOL tax benefit at it's disposal. According to Gilbert (CEO), IEC will continue to use this benefit to pay down debt and seek additional acquisitions to strengthen IEC's customer base!

[BL0ODLESS]

8K Filing Out!

IEC releases 8K filing detailing the recent GTC acquisition. ~1.7M in net income, added to IEC's projected net income of 6.4M (90M * 7.1%) gives a total net income of 8.1M, assuming no increase in efficiency, even though IEC has nearly doubled that value over the past 4 years, results in an EPS value of $0.906.

IEC Competitors include:
Sanmina & Jabil: $17/share, both reported annual losses
Benchmark: $0.83, $20/share, P/E=24
Plexus: $1.18, $36/share, P/E=30

Potential IEC value:
$0.906 * 10PE = $9.06
$0.906 * 20PE = $18.12
$0.906 * 25PE = $22.65
$0.906 * 30PE = $27.18

Link to the 8K below:
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6805747

[BL0ODLESS]

IEC rallying today!

BTW - IEC is now listed on AMEX, no longer OTC. Great revenues, great earnings, great potential with new customers! Do your own DD, but I see no reason for this to be valued any lower than $12/share.

[MikeDDKing]

IEC Announces Replay Webcast of Annual Shareholders' Meeting
On Wednesday February 3, 2010, 5:07 pm EST

NEWARK, NY--(Marketwire - 02/03/10) - IEC Electronics Corp. (AMEX:IEC - News) announces that the replay of today's annual meeting is now available. Listeners may access the annual meeting webcast and presentation by registering through the Company's webcast link on its home page, www.iec-electronics.com.

About IEC Electronics

A full service EMS provider, IEC is AS9100 and ISO-9001:2000 registered, and a NSA approved supplier under the COMSEC standard. The Company offers its customers a wide range of services including design, prototype and volume printed circuit board assembly, material procurement and control, manufacturing and test engineering support, systems build, final packaging and distribution.

The foregoing, including any discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions, competition and technological change, the ability of the Company to control manufacturing and operating costs, satisfactory relationships with vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2009 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.
Contact:



Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett/Jennifer Belodeau
Institutional Marketing Services
(203) 972 - 9200
Email Contact

[Trend_Trader]

Better get in before $7. EPS unreal, new medical customer, huge growth QOQ without the GTC purchase, they expect 20% gorwth QOQ without GTC. norm has been about 5%. Looks like this medical company gave them a nice contract!!! More to come like that soon. Chart fabulous. Target $25 in 6 months.

http://stockcharts.com/h-sc/ui?s=iec

[MikeDDKing]

Not at this price but I am watching.

[Tipster1492]

are you buying mike?

[MikeDDKing]

Form 4's for director stock purchases were posted today.

[MikeDDKing]

IEC Announces Solid First Quarter for Fiscal 2010
Compared to Q1 of 2009: Revenue Increased 14%; Gross Profit Was 15.6% as Compared 14.1%; Operating Income Increased by More Than 39%
On Thursday January 28, 2010, 8:30 am

NEWARK, NY--(Marketwire - 01/28/10) - IEC Electronics Corp. (AMEX:IEC - News) announced its results for the first quarter of fiscal 2010 ending December 25, 2009.

On an unaudited basis, the Company reported revenue of $18.1 million for the quarter, operating income of $1,313,000 and net income of $753,000 or $0.08 per share. This compares to revenue of $15.9 million, operating income of $947,000 and net income of $532,000 or $0.06 per share for the quarter ending December 26, 2008.

W. Barry Gilbert, Chairman of the Board and CEO, stated, "We had a busy quarter. As previously announced, we acquired General Technology Corporation (GTC), from Crane Co. on December 16th near the very end of our fiscal first quarter. Accordingly, the acquisition had almost no impact on our financial results. Our operating margins increased from the previous year but were softer than Q4 of fiscal 2009. Q1 is always a challenge as we must assist our customers in maximizing their year end results and this often conflicts with the initially scheduled mix of products. Operating income was 7.2% of sales versus 6% for the same period last year. Although, this is a strong result in its own right, it is lower than what we have come to expect because, despite our manufacturing efficiency, changes to product mix, as mentioned above, were a challenge.

"Our customer base continues to expand and during the quarter, we added a new customer in the medical sector. We expect continued revenue growth during the balance of the year. Sales are likely to increase from $16.3 million in fiscal Q2 '09 to approximately $25 million in fiscal Q2 '10. While much of the increase will be related to the GTC acquisition, over 20% of the balance is organic growth. We are excited about the prospects associated with the GTC acquisition and our initial impressions after a short period of time are positive. GTC expands our reach in the military and defense markets with their ability to manage legacy programs, an important niche that we are pleased to add to our capabilities. While we will absorb some normal integration costs, they are more than offset by the fact there were no investment banking costs associated with the transaction.

"One final thought: Some of our customers continue to face significant difficulties in this weak economy. However others continue to expand, and in turn expand their commercial activity with us. This is attributable to increases in their end market activity and also endorses our performance as it appears that we are taking market share from others. We view this as recognition of our continuing commitment to serving our customers as closely to 'Absolutely, Positively Perfect and On Time(SM)' as we can."

As a full service EMS provider, IEC is AS9100, ISO-9001:2000 and ISO 13485 registered, and a NSA approved supplier under the COMSEC standard. The Company offers its customers a wide range of services including design, prototype and volume printed circuit board assembly, material procurement and control, manufacturing and test engineering support, systems build, final packaging and distribution. Information regarding IEC's first quarter 2010 results can be found on its web site at www.iec-electronics.com.

The foregoing, including any discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions, competition and technological change, the ability of the Company to control manufacturing and operating costs and satisfactory relationships with vendors.

The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2009 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.

                   IEC ELECTRONICS CORP - CONSOLIDATED 
                              BALANCE SHEET 
                       DEC 25, 2009 AND SEP 30, 2009 
                              (In Thousands) 
  
                                          DEC 25, 2009         SEP 30, 2009 
 ASSETS 
  
 CURRENT ASSETS 
   Cash                                              0                    0 
   Accounts Receivable                          15,242               10,354 
   Inventories                                  11,188                6,491 
   Deferred Income Taxes                         2,050                2,050 
   Other Current Assets                            193                  110 
                                            ----------           ---------- 
     Total Current Assets                       28,673               19,005 
                                            ----------           ---------- 
  
 NET FIXED ASSETS                               11,118                2,391 
  
 NON-CURRENT ASSETS 
   Goodwill                                        507                    0 
   Deferred Income Taxes                        12,620               13,026 
   Other Non-Current Assets                        117                   47 
                                           -----------           ---------- 
 TOTAL ASSETS                                   53,035               34,469 
                                           ===========           ========== 
  
 LIABILITIES AND SHAREHOLDERS' EQUITY 
  
 CURRENT LIABILITIES 
   Short Term Borrowings                         2,414                1,147 
   Accounts Payable                              7,299                4,183 
   Accrued Payroll and Related Taxes             1,313                1,564 
   Other Accrued Expenses                        1,219                  531 
   Other Current Liabilities                       413                  190 
                                            ----------           ---------- 
     Total Current Liabilities                  12,658                7,615 
                                            ----------           ---------- 
  
 LONG TERM DEBT                                 19,301                6,600 
                                            ----------           ---------- 
 TOTAL LIABILITIES                              31,959               14,215 
  
 SHAREHOLDERS' EQUITY 
     Authorized - 50,000,000 shares 
     Issued - 9,833,930, Outstanding - 
      8,821,057 
   Common stock, par value $.01 per share           98                   97 
   Treasury Shares at Cost - 1,012,873 
    shares                                      (1,413)              (1,413) 
   Additional Paid-in Capital                   40,699               40,632 
   Retained Earnings                           (18,308)             (19,062) 
                                            ----------           ---------- 
 TOTAL SHAREHOLDERS' EQUITY                     21,076               20,254 
                                            ----------           ---------- 
  
 TOTAL LIABILITIES & EQUITY                     53,035               34,469 
                                            ==========           ========== 

                   IEC ELECTRONICS CORP - CONSOLIDATED 
                            STATEMENT OF INCOME 
            FOR QUARTER END & YTD DEC 25, 2009 AND DEC 26, 2008 
                                (In Thousands) 
  
                         ACTUAL         PRIOR        ACTUAL        PRIOR 
                        QUARTER        QUARTER         YTD          YTD 
                      DEC 25, 2009  DEC 26, 2008  DEC 25, 2009  DEC 26, 2008 
  
 Sales                      18,060        15,857        18,060        15,857 
 Cost of Sales              15,247        13,623        15,247        13,623 
                      ------------  ------------  ------------  ------------ 
 Gross Profit                2,813         2,234         2,813         2,234 
  
 Less: Operating 
  Expenses 
   Selling & G&A             1,500         1,287         1,500         1,287 
   Restructuring                 0             0             0             0 
                      ------------  ------------  ------------  ------------ 
 Total Operating 
  Expenses                   1,500         1,287         1,500         1,287 
                      ------------  ------------  ------------  ------------ 
  
 Operating Profit            1,313           947         1,313           947 
  
 Interest and 
  Financing Expense             95           124            95           124 
 Other Expense/(Income)         59             0            59             0 
                      ------------  ------------  ------------  ------------ 
 Net Income before 
  Income Taxes               1,159           823         1,159           823 
  
   Provision for / 
    (benefit from) 
    Income Tax                 406           291           406           291 
                      ------------  ------------  ------------  ------------ 
  
 Net Income                    753           532           753           532 
                      ============  ============  ============  ============ 

Contact:



Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett/Jennifer Belodeau
Institutional Marketing Services
[phone]
Email Contact

[MikeDDKing]

IEC Announces the Acquisition of General Technology Corporation
On Thursday December 17, 2009, 8:00 am

NEWARK, NY--(Marketwire - 12/17/09) - IEC Electronics Corp. (AMEX:IEC - News) announced the acquisition of General Technology Corporation (GTC), an indirect, wholly-owned subsidiary of Crane Co. (NYSE:CR - News). GTC is a contract manufacturer located in Albuquerque, New Mexico.

With revenue of approximately $25,000,000, GTC serves a number of leading customers in the military and defense markets. The combination will be accretive to IEC shareholders. The purchase price of $14.2 million has been financed with a credit facility from Manufacturers and Traders Bank (M&T). No Company stock was issued.

W. Barry Gilbert, Chairman of the Board and CEO, stated, "We have been searching for a company with a strong quality culture, complementary technologies and serving similar markets. GTC is a well run company with strong margins that occupies an important niche in the military and defense market. Its expertise is in helping its customers, primarily military "primes," manage their legacy products and programs. This is a unique niche market for which we envision continued growth. GTC not only supports our customers' emerging needs, but also provides us with an opportunity to diversify our customer base. While any acquisition entails risk, we are encouraged by the depth and quality of its management team and see some exciting opportunities before us."

As a full service EMS provider, IEC is AS9100, is ISO-9001:2000 and ISO 13485 registered, and a NSA approved supplier under the COMSEC standard. The Company offers its customers a wide range of services including design, prototype and volume printed circuit board assembly, material procurement and control, manufacturing and test engineering support, systems build, final packaging and distribution. Information regarding IEC can be found on its web site at www.iec-electronics.com.

The foregoing, including any discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, competition and technological change, the ability of the Company to control manufacturing and operating costs, satisfactory relationships with vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2009 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.

Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett/Jennifer Belodeau
Institutional Marketing Services
[phone]
Email Contact

[Tipster1492]

double digit income growth percentage and the stock drops. go figure.

[MikeDDKing]

IEC Announces Higher Sales and Earnings for Fiscal 2009
Q4 Fiscal '09 Revenue Was $18.3 Million as Compared to $16.1 Million for Q4 Fiscal '08
Operating Income for Q4 Was $1.4 Million or 7.7% of Sales as Compared to $1.0 Million or 6.4% for Q4 Fiscal 2008
Revenue for Fiscal 2009 Was $67.8 Million as Compared to $51.1 Million for Fiscal 2008
Net Income Before Tax for Fiscal 2009 Was $4.7 Million as Compared to $1.6 Million for Fiscal 2008

Press Release
Source: IEC Electronics
On 8:35 am EST, Monday November 9, 2009
Companies:Iec Electronics Corp.
NEWARK, NY--(Marketwire - 11/09/09) - IEC Electronics Corp. (AMEX:IEC - News) announced its results for the fourth quarter and fiscal year ending September 30, 2009.

For the quarter, the Company reported revenue of $18.3 million and operating income of $1.4 million. This compares with revenue of $16.1 million and operating income of $1.0 million for the same quarter of fiscal 2008. Q4 net income after tax was $903,000, or $0.09 per share compared to Q4 '08 net income of $8.5 million or $0.91 per share. The $0.91 per share included a tax benefit of $7.7 million. Without the $7.7 million tax benefit, the net income after tax for Q4 '08 would have been $554,000, or $0.06 per share.

For fiscal year 2009, IEC had revenue of $67.8 million and net income before tax of $4.7 million. This compares to revenue of $51.1 million and net income before taxes of $1.6 million for fiscal 2008. Net income after tax was $5 million, or $.52 per share, on a diluted basis, for year end 2009 compared to net income of $10.5 million after tax or $1.12 per share, on the same basis, for fiscal 2008.

W. Barry Gilbert, Chairman of the Board and CEO, stated, "We had a good year and continue to improve our operating performance. Five new customers were added during the year and we have received numerous new programs from existing customers. Of the five new customers, three were in the military sector, one in the communications sector and one in the industrial sector. We also terminated two customers where we believed the relationship was no longer commercially viable. Our backlog remained solid, an excellent result given the commercial turbulence of last year. The FY 2009 closing backlog was $41.4 million as compared to a FY 2008 closing backlog of $43.9 million. Backlog consists of two categories: orders and firm forecasted commitments. We also receive orders during a quarter which, since they are shipped in the same period, do not appear in our backlog.

"Our customer mix changed somewhat. The military sector remains strong. It represents 43.4% of sales ($29.4 million) in fiscal 09 increasing from 39.6% of sales ($20.3 million) in fiscal 08. Our industrial customer base represents 24.3% of sales ($16.5 million) a decrease from 30.0% of sales ($15.3 million) in fiscal 08. The aerospace sector increased slightly to 12% of sales ($8.1 million) in fiscal 09 from 10.9% of sales ($5.6 million) in fiscal 2008.

"The gross margin has improved over the past year. Gross profit for the year increased to16% from 12.2% for fiscal 2008, and reached 17.5% for the fourth quarter of fiscal 2009. Strong gross margins of 16% or greater are likely to continue throughout fiscal year 2010 from productivity initiatives currently underway.

"We continue to be concerned about the outlook for the broad economy. With that said, we expect continued growth in sales for fiscal 2010 of approximately 17%, and expect our operating income to exceed 7% of sales. We believe our military and aerospace sectors will remain strong. The industrial sector has been under pressure all year long and we do not envision any substantive improvement in fiscal 2010. Finally, we believe we will continue to expand our presence in the medical sector, which represented virtually no sales in fiscal 2008 and 5% of sales in fiscal 2009.

"We use net income before tax to evaluate the strength of our operating performance. This metric excludes deferred tax benefits associated with the firm's net operating loss tax loss carryforward (NOL). IEC has a remaining $39.1 million NOL and is, therefore, unlikely to pay significant federal and state taxes for many years. Our net income before tax improved significantly from $1.6 million in FY 2008 to $4.7 million in FY 2009.

As we have said previously, we believe the Company is moving in the right direction and we are confident that we are creating future value for our customers, and shareholders and opportunity for our employees."

As a full service EMS provider, AS9100, IEC is ISO-9001:2000 and ISO 13485 registered, and a NSA approved supplier under the COMSEC standard. The Company offers its customers a wide range of services including design, prototype and volume printed circuit board assembly, material procurement and control, manufacturing and test engineering support, systems build, final packaging and distribution. Information regarding IEC's fourth quarter 2009 results can be found on its web site at www.iec-electronics.com/documents/finance/Q4-2009release.html

The foregoing, including any discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions, competition and technological change, the ability of the Company to control manufacturing and operating costs and satisfactory relationships with vendors.

The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2009 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.

             IEC ELECTRONICS CORP - CONSOLIDATED 
                         BALANCE SHEET 
                 SEP 30, 2009 AND SEP 30, 2008 
                         (In Thousands) 
  
  
                                           SEP 30, 2009        SEP 30, 2008 
 ASSETS 
  
 CURRENT ASSETS 
   Cash                                               0                   0 
   Accounts Receivable                           10,354              10,345 
   Inventories                                    6,491               6,230 
   Deferred Income Taxes                          2,050               1,908 
   Other Current Assets                             110                  61 
                                             ----------          ---------- 
     Total Current Assets                        19,005              18,544 
                                             ----------          ---------- 
  
 NET FIXED ASSETS                                 2,391                 853 
  
 NON-CURRENT ASSETS 
   Deferred Income Taxes                         13,026              14,727 
   Other Non-Current Assets                          47                  60 
                                            -----------          ---------- 
 TOTAL ASSETS                                    34,469              34,184 
                                            ===========          ========== 
  
 LIABILITIES AND SHAREHOLDERS' EQUITY 
  
 CURRENT LIABILITIES 
   Short Term Borrowings                          1,147               1,098 
   Accounts Payable                               4,183               6,125 
   Accrued Payroll and Related Taxes              1,564                 808 
   Other Accrued Expenses                           531                 603 
   Other Current Liabilities                        190                 664 
                                             ----------          ---------- 
     Total Current Liabilities                    7,615               9,298 
                                             ----------          ---------- 
  
 LONG TERM DEBT                                   6,600               8,910 
                                             ----------          ---------- 
 TOTAL LIABILITIES                               14,215              18,208 
  
 SHAREHOLDER'S EQUITY 
   Authorized - 50,000,000 shares 
    Issued - 9,747,283, Outstanding - 
    8,734,410 
   Common stock, par value $.01 per 
    share                                            97                  93 
   Treasury Shares at Cost - 1,012,873 
    shares                                       (1,413)               (223) 
   Additional Paid-in Capital                    40,632              40,124 
   Retained Earnings                            (19,062)            (24,018) 
                                             ----------          ---------- 
 TOTAL SHAREHOLDER'S EQUITY                      20,254              15,976 
                                             ----------          ---------- 
  
 TOTAL LIABILITIES & EQUITY                      34,469              34,184 
                                             ==========          ========== 

              IEC ELECTRONICS CORP - CONSOLIDATED 
                       STATEMENT OF INCOME 
       FOR QUARTER END & YTD SEP 30, 2009 AND SEP 30, 2008 
                          (In Thousands) 
  
  
                         ACTUAL        PRIOR         ACTUAL        PRIOR 
                         QUARTER       QUARTER        YTD           YTD 
                      SEP 30, 2009  SEP 30, 2008  SEP 30, 2009  SEP 30, 2008 
  
 Sales                      18,273        16,104        67,811       51,092 
 Cost of Sales              15,077        13,829        56,985       44,875 
                          --------      --------      --------     -------- 
 Gross Profit                3,196         2,275        10,826        6,217 
  
 Less: Operating Expenses 
   Selling & G&A             1,793         1,245         6,007        3,825 
   Restructuring                 0             0             0            0 
                          --------      --------      --------     -------- 
 Total Operating Expenses    1,793         1,245         6,007        3,825 
                          --------      --------      --------     -------- 
  
 Operating Profit            1,403         1,030         4,819        2,392 
  
 Interest and Financing 
  Expense                       84           170           389          452 
 Other Expense/(Income)        (70)            6          (287)         306 
                          --------      --------      --------     -------- 
 Net Income before Income 
  Taxes                      1,389           854         4,718        1,634 
  
   Provision for / 
    (benefit from) 
    Income Tax                 486        (7,662)         (238)      (8,843) 
                          --------      --------      --------     -------- 
  
 Net Income                    903         8,516         4,956       10,477 
                          ========      ========      ========     ======== 

Contact:
Contact:Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact
John Nesbett
Jennifer Belodeau
Institutional Marketing Services
[phone]
Email Contact

[MikeDDKing]

They probably did the over $5 check when IEC was over $5.

[Tipster1492]

"and a stock price no lower than 5 dollars"


Aren't we disqualified from that list?

[MikeDDKing]

IEC Named to Forbes 200 Best Small Companies List
Company Ranked 29 Out of 200 Selected Companies
On 9:33 am EST, Monday November 2, 2009

NEWARK, NY--(Marketwire - 11/02/09) - IEC Electronics Corp. (AMEX:IEC - News), a leading full service EMS provider specializing in complex electronics, today announced that it has been named to the Forbes 200 Best Small Companies in America. IEC has been ranked 29th out of the 200 small companies included on the list.

To qualify for the Forbes Best Small Companies List, companies must have sales between $5 million and $750 million and a stock price no lower than $5. Rankings are based on earnings growth, sales growth and return on equity in the past 12 months and over five years. Additionally Forbes compares the stock performance of each company with that of its peers.

Jeffrey Schlarbaum, Executive Vice President and President, IEC Contract Manufacturing, stated, "We are delighted to be recognized by Forbes as one of the Best Small Companies and we thank our employees who deliver the unique capabilities our company offers its customers."

About IEC

As a full service EMS provider, IEC is AS9100 and ISO-9001:2000 registered, and a NSA approved supplier under the COMSEC standard. The Company offers its customers a wide range of services including design, prototype and high reliability printed circuit board assembly, material procurement and control, manufacturing and test engineering support, and systems build. Information regarding IEC's third quarter 2009 results can be found on its web site at www.iec-electronics.com/documents/finance/Q3-2009release.pdf

The foregoing, including any discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions, competition and technological change, the ability of the Company to control manufacturing and operating costs, satisfactory relationships with vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2008 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.

Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact

John Nesbett/Jennifer Belodeau
Institutional Marketing Services
(203) 972 - 9200
Email Contact

[MikeDDKing]

IEC Issues Updated Investor Presentation
On 10:38 am EDT, Thursday October 29, 2009

NEWARK, NY--(Marketwire - 10/29/09) - IEC Electronics Corp. (AMEX:IEC - News) has made available an updated investor presentation in conjunction with Chairman & CEO W. Barry Gilbert's participation tomorrow at the FSX Conference in Philadelphia. The updated version of the presentation is available at the Company's website, www.iec-electronics.com.

Contact:
Heather Keenan
IEC Electronics Corp.
[phone]
Email Contact

John Nesbett
Institutional Marketing Services
[phone]
Email Contact

[Tipster1492]

NITE is always darkest just before the dawn.

[MikeDDKing]

Hmmmmmmmmmmmmmmmmmm

[Tipster1492]

Potential capitulation going on here. Am adding.