-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, L755IBjdFaMCfRtH70Wnn4OvhBQ+pk/h170xSXdojAMHNMEtITrHDNrVhnyK5IHD E8qYtUmSIQoS3HxCf6lf8g== 0000049728-02-000017.txt : 20020613 0000049728-02-000017.hdr.sgml : 20020613 20020613155700 ACCESSION NUMBER: 0000049728-02-000017 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020605 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020613 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IEC ELECTRONICS CORP CENTRAL INDEX KEY: 0000049728 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] IRS NUMBER: 133458955 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-06508 FILM NUMBER: 02678330 BUSINESS ADDRESS: STREET 1: 105 NORTON ST CITY: NEWARK STATE: NY ZIP: 14513 BUSINESS PHONE: 3153317742 MAIL ADDRESS: STREET 1: PO BOX 271 CITY: NEWARK STATE: NY ZIP: 14513 FORMER COMPANY: FORMER CONFORMED NAME: INTERCONTINENTAL ELECTRONICS CORP DATE OF NAME CHANGE: 19730601 8-K 1 iec8k61302.txt RESTRUCTURING SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) - June 5, 2002 IEC Electronics Corp. (Exact name of Registrant as Specified in its Charter) Delaware (State or other jurisdiction of Incorporation) 0-6508 13-3458955 (Commission File Number) (IRS Employer Identification No.) 105 Norton Street, Newark, New York 14513 (Address of Principal Executive Offices) (315) 331-7742 (Registrant's Telephone Number, including Area Code) Page 1 of 2 Item 5. Other Events - ------- ------------ (a) On June 6, 2002, the Company announced a restructuring and a reduction in its Newark, NY workforce. On that day, Thomas W. Lovelock resigned as President, Chief Executive Officer and a director of the Company. Richard L. Weiss, Vice President, Chief Financial Officer and Treasurer, also resigned his positions with the Company. Each elected not to continue in the management of a restructured and downsized company. Mr. Lovelock is available for consultation with the Company through March 31, 2003. (b) Effective June 6, 2002, W. Barry Gilbert, Chairman of the Board, was appointed acting Chief Executive Officer, and Bill R. Anderson, Vice President and General Manager, was appointed Chief Operating Officer. (c) Effective June 5, 2002, the Company's common stock began trading on The Nasdaq SmallCap Market. Item 7. Financial Statements and Exhibits - ------- --------------------------------- (c) Exhibits 99.1 Press Release dated June 6, 2002. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IEC Electronics Corp. --------------------- (Registrant) Date: June 13, 2002 By: /s/ Bill R. Anderson --------------------- Bill R. Anderson Chief Operating Officer Page 2 of 2 EX-99.1 3 iecpr60602.txt RESTRUCTURING PRESS RELEASE Exhibit 99.1 Press Release dated June 6, 2002 IEC Announces Departure of CEO and CFO New York Facility Undergoes Restructuring Newark, New York - June 6, 2002 - IEC Electronics Corp. (Nasdaq-SCM: IECE) announced today that it reduced its Newark, New York workforce by 35 percent at the end of May. Chief Executive Officer Thomas W. Lovelock and Chief Financial Officer Richard L. Weiss have both left IEC, electing not to continue in management of the downsized company. Mr. Lovelock is available for consultation with the Company through March 31, 2003. W. Barry Gilbert, Chairman of the Board has been appointed acting Chief Executive Officer and Bill R. Anderson, Vice President and General Manager has been appointed Chief Operating Officer. IEC's Chairman Barry Gilbert said, "The restructuring has been very difficult, in fact gut-wrenching, for those personally involved. The contract electronics manufacturing industry is recovering slower than we had anticipated when we reduced headcount in March, and in response we have had to reduce the workforce in Newark to make it compatible to the volume of current business in the facility. Gilbert continued, "This is a temporary workforce reduction and our goal is to call back employees as sales increase. We have seen some improved activity from our industrial/instrumentation customers, and are encouraged by new opportunities that are turning up in that sector. IEC greatly appreciates the loyalty its customers and employees have shown, and we are firmly determined to take the necessary steps to restore financial stability and profitability." Effective June 5, 2002 IEC's shares are being traded on The Nasdaq SmallCap Market. IEC is a full service, ISO-9001 and 9002 registered, contract manufacturer employing state-of-the-art production utilizing both surface mount and pin-through-hole technology. IEC offers its customers a wide range of manufacturing and management services, on either a turnkey or consignment basis, including design prototyping, material procurement and control, concurrent engineering services, manufacturing and test engineering support, statistical quality assurance and complete resource management. Information regarding IEC can be found on its web page located at www.iec-electronics.com. The foregoing, including the 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, the successful negotiation of extensions to existing financing or the negotiation of new financing on acceptable terms. The Company's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of these and other factors, including factors set forth in the Company's 2001 Annual Report on Form 10-K and in other filin gs with the Securities and Exchange Commission. Contact: Heather Keenan Marketing Communications Specialist IEC Electronics Corp. (315) 332-4262 hkeenan@iec-electronics.com Page 1 of 1 -----END PRIVACY-ENHANCED MESSAGE-----