EX-99.2 3 v112084_ex99-2.htm Unassociated Document
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