IEHC.. $4.35
IEH CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS (continued)
Comparative Analysis-Three Months Ended September 25, 2009 and September 26, 2008 (continued)
Selling, general and administrative expenses were $425,628 or 14.25% of operating revenues for the three months ended September 25, 2009 compared to $378,464 or 14.27% of operating revenues for the three months ended September 26, 2008. This category of expenses increased by $47,164 or 12.46% from the prior year. The increase can be attributed to an increase in salaries to sales personnel, commissions and travel.
Interest expense was $14,595 for the three months ended September 25, 2009 or .49% of operating revenues. For the fiscal three months ended September 26, 2008, interest expense was $17,277 or .65% of operating revenues. The decrease of $2,682 or 15.52% reflects primarily management's commitment to apply revenues to reduce the Company's debt.
Depreciation and amortization of $42,600 or 1.43% of operating revenues was reported for the three months ended September 25, 2009. This reflects a decrease of $1,680 or 3.79% from the prior three months ended September 26, 2008 of $44,280 or 1.67% of operating revenues.
The Company reported net income of $369,759 for the three months ended September 25, 2009 representing basic earnings of $.16 per share as compared to a net income of $287,694 or $.13 per share for the three months ended September 26, 2008. The increase in net income for the current three month period can be attributed primarily to the increased revenue recorded during the current quarter.
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IEH CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS (continued)
Comparative Analysis-Three Months Ended June 26, 2009 and June 27, 2008
(continued)
Selling, general and administrative expenses were $417,889 or 14.5% of operating revenues for the three months ended June 26, 2009 compared to $366,830 or 14.2% of operating revenues for the three months ended June 27, 2008. This category of expense increased by $51,059 or 13.9% from the prior year. The increase can be attributed to an increase in salaries to sales personnel, commissions and travel expenses.
Interest expense was $11,580 for the three months ended June 26, 2009 or .4% of operating revenues. For the fiscal three months ended June 27, 2008, interest expense was $21,209 or .8% of operating revenues. The decrease of $9,629 or 45.4% reflects primarily management's commitment to apply revenues to reduce the Company's debt.
Depreciation and amortization of $45,714 or 1.6% of operating revenues was reported for the three months ended June 26, 2009. This reflects a decrease of $166 from the comparable three month period ended June 27, 2008 of $45,880 or 1.8% of operating revenues. The reduction in depreciation is the result of assets being written off prior to the three months ended June 26, 2009.
The Company reported net income of $351,274 for the three months ended June 26, 2009 representing basic earnings of $.15 per share as compared to net income of $415,220 or $.18 per share for the three months ended June 27, 2008. The decrease in net income for the current three month period can be attributed primarily to the increase in provision for corporate taxes.
AI
