EX-99.2 4 iec8k1q04992.txt SUPPLEMENTAL FINANCIAL DATA Exhibit 99.2 Supplemental financial data posted on the website of IEC Electronics Corp. (www.iec-electronics.com/1stquarter2004pr.htm) on January 29, 2004 IEC ELECTRONICS CORP CONSOLIDATED BALANCE SHEET DEC 26, 2003 AND SEP 30, 2002
DEC 26, 2003 SEP 30, 2003 ------------- ------------- ASSETS CURRENT ASSETS Cash 495,898 793,341 Accounts Receivable 3,139,948 4,003,641 Inventories 1,875,248 1,633,119 Deferred Income Taxes 250,000 250,000 Other Current Assets 118,139 329,232 Current Assets - Discontinued Operations 54,917 121,466 -------------- -------------- Total Current Assets 5,934,150 7,130,803 -------------- -------------- PROPERTY, PLANT & EQUIPMENT 2,911,526 3,173,090 PREPAID DEBT ACQUISITION 180,280 202,188 --------------- -------------- 9,025,956 10,506,081 =============== ============== LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Current Portion of Long Term Liabilites 1,222,097 1,277,387 Accounts Payable 1,597,535 2,740,599 Accrued Payroll and Related Taxes 624,119 794,078 Other Accrued Expenses 696,444 674,948 Liabilities from Discontinued Operations 208,892 216,068 --------------- ------------- Total Current Liabilities 4,349,088 5,703,080 --------------- ------------- LONG TERM VENDOR PAYABLE 370,916 455,903 LONG TERM DEBT - TERM 758,336 933,329 --------------- ------------- LONG TERM DEBT - TOTAL 1,129,252 1,389,232 SHAREHOLDER'S EQUITY Common stock, par value $.01 per share Authorized - 50,000,000 shares Outstanding - 8,021,960 shares 69,015 68,760 Additional Paid-in Capital 38,480,137 38,478,608 Retained Earnings (34,910,105) (35,042,169) Cumulative Translation Adj (91,430) (91,430) ---------------- ------------- Total Shareholders' Equity 3,547,617 3,413,769 ---------------- ------------- 9,025,956 10,506,081 ================ =============
Page 1 of 2 IEC ELECTRONICS CORP CONSOLIDATED STATEMENT OF INCOME FOR QUARTERS DEC 26, 2003 AND DEC 27, 2002
QUARTER ENDED QUARTER ENDED DEC 26, 2003 DEC 27, 2002 Net Sales 6,518,657 9,600,550 Cost of Sales 5,948,349 8,611,951 ----------- ----------- Gross Profit 570,308 988,599 Less: Operating Expenses Selling & Administrative Expenses 579,133 752,674 Restructuring Benefit 0 (63,317) ------------ ------------ Total Operating Expenses 579,133 689,357 ------------ ------------ Operating (loss) profit (8,825) 299,242 Interest and Financing Expense (90,339) (197,498) Forgiveness of Accounts Payable 0 244,761 Profit(loss) on Sales of Assets 231,228 95,954 ------------- -------------- Net Income before Income Taxes 132,064 442,459 Provision for Income Tax 0 0 ------------- --------------- Net Income 132,064 442,459 ------------- ---------------
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