8-K

UNITED STATES

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) - January 28, 2008

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)(Zipcode)

(315) 331-7742

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report) o

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02Results of Operations and Financial Conditions

On January 28, 2008, IEC Electronics Corp. issued a press release announcing its financial results for the fiscal quarter ended December 28, 2007. A copy of the press release is furnished as Exhibit 99.1 to this report. On January 28, 2008, IEC Electronics Corp. posted on its website certain supplemental financial data for the fiscal quarter ended December 28, 2007. A copy of that information is furnished as Exhibit 99.2 to this report.

The information in this Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such filing.

Neither the filing of any exhibit to this report nor the inclusion in such exhibits of a reference to IEC Electronics Corp.’s Internet address shall, under any circumstances, be deemed to incorporate the information available at such address into this report. The information available at IEC Electronics Corp.’s Internet address is not part of this report.

Item 9.01Financial Statements and Exhibits

(d)Exhibits

99.1 Press Release issued by IEC Electronics Corp. dated January 28, 2008.

99.2 Supplemental financial data posted on the website of IEC Electronics Corp (www.iec-electronics.com) on January 28, 2008.

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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: January 28, 2008	By:	/s/ W. Barry Gilbert
		W. Barry Gilbert
		Chairman, Chief Executive Officer

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EX-99.1

Exhibit 99.1

IEC Announces Strong First Quarter Results For Fiscal 2008

·   Revenue increased 21% from Q1 2007

·   Substantially increased earnings over Q1 2007

·   Earned AS9100 certification

Newark, NY - January 28, 2008 - IEC Electronics Corp. (IECE.OB) announced its results for the first quarter of fiscal 2008, ending December 28, 2007.

The Company reported revenue of $11.2 million for the quarter and net profit of $420,000 or $0.05 per share. This compares to revenue of $9.2 million and net loss of ($576,000) or ($0.07) per share for the quarter ended December 29, 2006.

W. Barry Gilbert, Chairman of the Board and CEO, stated, “We had a solid quarter, and are pleased with the improvement in both sales and profitability. The Company’s manufacturing operation is getting stronger. In Q1 fiscal 2007, we hired more than 100 new employees during the quarter. Although we have not yet achieved the desired level of efficiency from that very substantial number of new hires, we have made progress.

Looking back at Q1 of fiscal 2007, the first quarter’s results were negatively impacted by a $389,000 write-off attributable to the insolvency of Mangrove Systems Inc., which was subsequently acquired by Carrier Access Corporation (CACS) during Q2 of fiscal 2007. Our pro forma earnings without the write-off would have been ($187,000) or ($0.02) per share.

Looking forward, we continue to expand our recognition in the Aerospace industry with our portfolio of elite accounts and the respect we are earning from major OEMs. During the quarter the Company added a new Aerospace customer. It is a multi-billion dollar company in the southern United States with an impressive brand name and reputation. The relationship, which will grow over time, began with an approximate $1 million dollar order to be shipped over the next few quarters.

We earned our AS9100 certification during the quarter, which is an important milestone for the Company and further strengthens our position in the Military and Aerospace sectors. AS9100 is a select quality certificate, and one highly respected by both industries. Achieving this certification is part of a continuing realization of IEC’s vision, “Absolutely, Positively Perfect and On Time”^(sm)asdiscussed in the shareholder letter included in the 2007 Annual Report. That vision is the basis on which we, as a Company, make all of our investment decisions, personnel decisions, and decisions governing all our manufacturing operations.

Continuing our look forward, we do not see at this time any slowdown in our orders. Our backlog has actually grown modestly during the quarter and, overall, we do not seem to be encountering recession sentiment in our markets as suggested by the securities markets and the media. We do have certain customers whose business is soft due to apparent lackluster growth in their end markets. However that is being offset by a number of customers that have more than doubled their revenue with us over the same period of time. Our customers represent a diverse group of industries. The Military, Aerospace and Industrial sectors continue to expand and do so with products which are unrelated to any military conflicts.

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

As a full service EMS provider, IEC is AS9100 registered, 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. Information regarding IEC’s first quarter 2008 results can be found on its web site at www.iec-electronics.com/documents/finance/Q12008pressrelease

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 2007 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.

Contact: Heather Keenan

   IEC Electronics Corp.

(315) 332-4262

hkeenan@iec-electronics.com

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EX-99.2

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

DEC 28, 2007 AND SEP 30, 2007

(In Thousands)

	DEC 28, 2007			SEP 30, 2007
ASSETS
CURRENT ASSETS
Cash		0			0
Accounts Receivable		7,264			6,185
Inventories		3,770			3,326
Deferred Income Taxes		760			640
Other Current Assets		42			75
Total Current Assets		11,836			10,226
Net Fixed Assets		1,598			1,603
Other Non-Current Assets		13			16
TOTAL ASSETS		13,447			11,845
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		2,680			1,325
Accounts Payable		4,833			4,937
Accrued Payroll and Related Taxes		467			628
Other Accrued Expenses		440			366
Total Current Liabilities		8,420			7,256
Long Term Debt		348			426
TOTAL LIABILITIES		8,768			7,682
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares
Outstanding - 8,703,243 shares
Common stock, par value $.01 per share		87			87
Treasury Shares at Cost (412,873 shares)		(223	)		(223	)
Additional Paid-in Capital		38,889			38,794
Retained Earnings		(34,074	)		(34,495	)
TOTAL SHAREHOLDER’S EQUITY		4,679			4,163
		13,447			11,845

IEC ELECTRONICS CORP - CONSOLIDATED

STATEMENT OF INCOME

FOR QUARTER END & YTD DEC 28, 2007 AND DEC 29, 2006

(In Thousands)

	ACTUAL			PRIOR			ACTUAL			PRIOR
	QUARTER			QUARTER			YTD			YTD
	DEC 28, 2007			DEC 29, 2006			DEC 28, 2007			DEC 29, 2006
Sales		11,160			9,246			11,160			9,246
Cost of Sales		10,013			9,038			10,013			9,038
Gross Profit		1,147			208			1,147			208
Less: Operating Expenses
Selling & G&A		754			607			754			607
Restructuring		0			0			0			0
Total Operating Expenses		754			607			754			607
Operating Profit		393			(399	)		393			(399	)
Interest and Financing Expense		(93	)		(124	)		(93	)		(124	)
Profit (Loss) on Sale of Assets		0			0			0			0
Other Income (Expense)		0			(50	)		0			(50	)
Net Income before Income Taxes		300			(573	)		300			(573	)
Provision for /(benefit from)Income Tax		(120	)		3			(120	)		3
Net Income		420			(576	)		420			(576	)