MARKET SECTORS AND MAJOR CUSTOMERS

12 Months Ended

Sep. 30, 2020

Risks and Uncertainties [Abstract]

MARKET SECTORS AND MAJOR CUSTOMERS

NOTE 10—MARKET SECTORS AND MAJOR CUSTOMERS

A summary of sales, according to the market sector within which IEC’s customers operate, follows: 

	Years Ended
Percent of Sales by Sector	September 30, 2020	September 30, 2019
Aerospace and Defense	60%	60%
Medical	26%	22%
Industrial	14%	18%
	100%	100%

Three individual customers represented 10% or more of sales for the fiscal year ended September 30, 2020. Two customers were in the aerospace and defense sector and totaled 27% and 11% of sales, respectively. The third customer was in the medical sector and represented 17% of sales. In the prior fiscal year, one individual customer represented 10% or more of sales, this customer was in the aerospace and defense sector and totaled 23% of sales.

Two individual customers represented 10% or more of receivables and accounted for 30% of outstanding balances at September 30, 2020. At September 30, 2019, two individual customers represented 10% or more of receivables and accounted for 38% of such outstanding balances.

Credit risk associated with individual customers is periodically evaluated by analyzing the entity’s financial condition and payment history. Customers generally are not required to post collateral.