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) - April 29, 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)

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:

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

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

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

□ 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 April 29, 2008, IEC Electronics Corp. issued a press release announcing its financial results for the fiscal quarter ended March 28, 2008. A copy of the press release is furnished as Exhibit 99.1 to this report. On April 29, 2008, IEC Electronics Corp. posted on its website certain supplemental financial data for the fiscal quarter ended March 28, 2008. 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 April 29, 2008.

99.2 Supplemental financial data posted on the website of IEC Electronics Corp

(www.iec-electronics.com) on April 29, 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: April 29, 2008	By:   /s/ W. Barry Gilbert
	W. Barry Gilbert
	Chairman, Chief Executive Officer

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EX-99.1

Exhibit 99.1

Newark, NY - April 29, 2008 - IEC Electronics Corp. (IECE.OB) announced its results for the second quarter of fiscal 2008, ending March 28, 2008.

The Company reported revenue of $11.9 million for the quarter and net profit of $673,000 or $0.07 per share. This compares with revenue of $10.9 million and net profit of $603,000 or $0.07 per share for the quarter ending March 30, 2007. The comparable quarter’s results for the prior year were favorably impacted by a $289,000 bad debt recovery; pro forma earnings without the recovery would have been $314,000 or $0.04 per share.

IEC had revenue of $23.1 million for the first six months of fiscal 2008 and a net profit of $1,093,000 or $0.12 per share. This compares to revenue of $20.1 million for the first six months of fiscal 2007 and a net profit of $27,000 or $0.00 per share.

W. Barry Gilbert, Chairman of the Board and CEO, stated, “We had a solid quarter. Our gross margin improved to 11.6% as compared with our first quarter’s gross margin of 10.3%. Some of the change was the mix of products; however a portion of the change was due to improved manufacturing efficiency. Our employee base has stabilized, and the training and education now is beginning to pay off. This is important for the long run increasing profitability of the Company. IEC is continuing to grow and is increasing revenue with existing customers in the industrial sector as well as the Military and Aerospace sector as evidenced by the $4.7 million award announced last week. The current economic slowdown is challenging and some of our customers are experiencing reduced revenue growth in their markets. While we expect some of the demand from these customers to be lower than last year, other customers are substantially increasing their orders with us, and their prospects appear to be bright for the balance of fiscal 2008.”

“During the quarter our profitability was impacted by approximately $120,000 of transition cost associated with the retirement of our CFO and bringing our new CFO, Michael Schlehr to the Company along with the costs associated with exploring possible acquisitions.”

“We expect continued revenue growth over the balance of the year and expect to further diversify our market segment focus in the coming quarters. As we have said previously, we believe 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, AS9100 and IEC is 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 second quarter 2007 results can be found on its web site at www.iec-electronics.com/documents/finance/Q2-2008pressrelease. 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

EX-99.2

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

MAR 28, 2008 AND SEP 30, 2007

(In Thousands)

	MAR 28, 2008			SEP 30, 2007
ASSETS
CURRENT ASSETS
Cash		0			0
Accounts Receivable		8,076			6,185
Inventories		5,073			3,326
Other Current Assets		74			75
Total Current Assets		13,323			9,586
NET FIXED ASSETS		1,675			1,603
LONG TERM ASSETS
Deferred Income Taxes		1,130			640
Other Non-Current Assets		0			16
TOTAL ASSETS		16,028			11,845
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		3,474			1,325
Accounts Payable		5,927			4,937
Accrued Payroll and Related Taxes		501			628
Other Accrued Expenses		441			366
Total Current Liabilities		10,343			7,256
Long Term Debt		273			426
TOTAL LIABILITIES		10,616			7,682
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares
Outstanding - 8,736,493 shares
Common stock, par value $.01 per share		87			87
Treasury Shares at Cost (412,873 shares)		(223	)		(223	)
Additional Paid-in Capital		38,949			38,794
Retained Earnings		(33,401	)		(34,495	)
TOTAL SHAREHOLDER’S EQUITY		5,412			4,163
TOTAL LIABILITIES & EQUITY		16,028			11,845

IEC ELECTRONICS CORP - CONSOLIDATED

STATEMENT OF INCOME

FOR QUARTER END & YTD MAR 28, 2008 AND MAR 30, 2007

(In Thousands)

	ACTUAL			PRIOR			ACTUAL			PRIOR
	QUARTER			QUARTER			YTD			YTD
	MAR 28, 2008			MAR 30, 2007			MAR 28, 2008			MAR 30, 2007
Sales		11,940			10,899			23,100			20,145
Cost of Sales		10,557			9,370			20,571			18,408
Gross Profit		1,383			1,529			2,529			1,737
Less: Operating Expenses
Selling & G&A		998			783			1,752			1,390
Restructuring		0			0			0			0
Total Operating Expenses		998			783			1,752			1,390
Operating Profit		385			746			777			347
Interest and Financing Expense		(84	)		(134	)		(176	)		(259	)
Profit (Loss) on Sale of Assets		0			(33	)		0			(33	)
Other Income (Expense)		2			24			2			(25	)
Net Income before Income Taxes		303			603			603			30
Provision for /(benefit from)Income Tax		(370	)		0			(490	)		3
Net Income		673			603			1093			27