EX-99.2 4 v121193_ex99-2.htm Unassociated Document
Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED
BALANCE SHEET
   JUN 27, 2008 AND SEP 30, 2007
(In Thousands)
 
     
JUN 27, 2008
   
SEP 30, 2007
 
ASSETS
             
               
CURRENT ASSETS
             
Cash
   
0
   
0
 
Accounts Receivable
   
9,185
   
6,185
 
Inventories
   
6,939
   
3,326
 
Other Current Assets
   
59
   
75
 
Total Current Assets
   
16,183
   
9,586
 
     
       
NET FIXED ASSETS
   
555
   
1,603
 
               
LONG TERM ASSETS
             
Deferred Income Taxes
   
8,802
   
640
 
Other Non-Current Assets
   
64
   
16
 
TOTAL ASSETS
   
25,604
   
11,845
 
               
LIABILITIES AND SHAREHOLDERS' EQUITY
             
               
CURRENT LIABILITIES
   
       
Short Term Borrowings
   
7,708
   
1,325
 
Accounts Payable
   
4,553
   
4,937
 
Accrued Payroll and Related Taxes
   
677
   
628
 
Other Accrued Expenses
   
577
   
366
 
Total Current Liabilities
   
13,515
   
7,256
 
Long Term Debt
   
4,691
   
426
 
               
TOTAL LIABILITIES
   
18,206
   
7,682
 
               
SHAREHOLDER'S EQUITY
             
Authorized - 50,000,000 shares
             
Outstanding - 9,285,995 shares
             
Common stock, par value $.01 per share
   
93
   
87
 
Treasury Shares at Cost (412,873 shares)
   
(223
)
 
(223
)
Additional Paid-in Capital
   
40,061
   
38,794
 
Retained Earnings
   
(32,533
)
 
(34,495
)
               
TOTAL SHAREHOLDER’S EQUITY
   
7,398
   
4,163
 
               
TOTAL LIABILITIES & EQUITY
   
25,604
   
11,845
 
 
 
 

 

IEC ELECTRONICS CORP - CONSOLIDATED
STATEMENT OF INCOME
FOR QUARTER END & YTD JUN 27, 2008 AND JUN 29, 2007
(In Thousands)

     
ACTUAL
   
PRIOR
   
ACTUAL
   
PRIOR
 
     
QUARTER
   
QUARTER
   
YTD
   
YTD
 
     
JUN 27, 2008
   
JUN 29, 2007
   
JUN 27, 2008
   
JUN 29, 2007
 
                           
Sales
   
11,888
   
11,165
   
34,988
   
31,309
 
Cost of Sales
   
10,475
   
9,850
   
31,046
   
28,256
 
Gross Profit
   
1,413
   
1,315
   
3,942
   
3,053
 
Less: Operating Expenses
   
                   
Selling & G&A
   
828
   
821
   
2,580
   
2,213
 
Restructuring
   
0
   
0
   
0
   
0
 
Total Operating Expenses
   
828
   
821
   
2,580
   
2,213
 
Operating Profit
   
585
   
494
   
1,362
   
840
 
                           
Interest and Financing Expense
   
(106
)
 
(91
)
 
(281
)
 
(350
)
Profit (Loss) on Sale of Assets
   
0
   
0
   
2
   
(33
)
Other Income (Expense)
   
(302
)
 
0
   
(301
)
 
(25
)
Net Income before Income Taxes
   
177
   
403
   
782
   
432
 
                           
Provision for /(benefit from)Income Tax
   
(691
)
 
(150
)
 
(1181
)
 
(147
)
                           
Net Income
   
868
   
553
   
1963
   
579