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) – July 23, 2009

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:

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 2.02           Results of Operations and Financial Conditions

On July 23, 2009, IEC Electronics Corp. issued a press release announcing its financial results for the fiscal quarter ended June 26, 2009.  A copy of the press release is furnished as Exhibit 99.1 to this report.  On July 23, 2009, IEC Electronics Corp. posted on its website certain supplemental financial data for the fiscal quarter ended June 26, 2009.  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 9.01           Financial Statements and Exhibits

(d)           Exhibits

99.1 Press Release issued by IEC Electronics Corp. dated July 23, 2009.

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

(www.iec-electronics.com) on July 23, 2009.

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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:  July 23, 2009	By:	/s/ W. Barry Gilbert
		W. Barry Gilbert
		Chairman, Chief Executive Officer

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EX-99.1

Exhibit 99.1

Compared to Q3 of 2008:

§      Revenue increased  46%

§      Operating profit margin percent improved to 7.7% from 4.9%

Major Event

§      Listed on NYSE Amex

Newark, NY – July 23, 2009 – IEC Electronics Corp. (IEC: NYSE Amex) announced its results for the third quarter of fiscal 2009 ending June 26, 2009.

The Company reported revenue of $17.3 million for the quarter, operating profit of $1.3 million and net income of $903,000 or $0.10 per share.  This compares with revenue of $11.9 million, operating profit of $585,000 and net income of $868,000 or $0.09 per share for the quarter ending June 27, 2008.  The third quarter of 2008 included $691,000 deferred tax benefit or $.07 per share.

IEC had revenue of $49.5 million for the first nine months of fiscal 2009 and a net income of $4,053,000 or $.43 per share.  This compares to revenue of $35.0 million for the first nine months of fiscal 2008 and net income of $1,963,000 or $.21 per share.  Both periods were impacted by deferred tax benefit.  2009 year-to-date results include net deferred tax benefit of $724,000 or $.08 per share compared to the first nine months of 2008 which included net deferred tax benefit of $1,181,000 or $.13 per share.  2009 also included receipt of $150,000 from the settlement of a ten year old tax claim, for the overpayment of taxes with the state of Alabama and the city of Arab where IEC owned a facility in the late 1990s.

W. Barry Gilbert, Chairman of the Board and CEO, stated, “It was a very good quarter.  This quarter IEC achieved several significant milestones.  We were listed on a national exchange, NYSE Amex in June, without the need to execute a reverse stock split.   Both our gross profit margin and our operating profit expanded to the highest level in more than ten years, 16.1% and 7.7% as a percent of sales respectively.”

“The gross profit margin of 16.1% compares with Q3 2008 gross profit margin of 11.9%.  This stems from the fact that our contract manufacturing business continues to improve.  For the second consecutive quarter we have experienced gains in manufacturing efficiency attributable to investments in equipment and personnel over the last twelve months.  Moreover, the improved gross profit margin benefited from some favorable product mix which may not continue in the future.  We expect our gross profit margin as a percent of sales to normalize in a slightly higher range of between 15% and 16% than presented last quarter.”

“By virtue of the strong operating results, and careful management of expenses, our Q3 operating profit increased to 7.7% of sales versus 4.9% for the same period last year.  We will experience operating profits of this level from time to time; however this is above our internal expectations of between 7% and 7.3%.”

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“We have been fortunate to succeed in a recession that seems to be slow in abating, and have succeeded in adding three new customers and in obtaining numerous new projects from existing customers over the first nine months of the year.  However, two customers continue to experience declining demand for their products in the current economic climate, and do not expect that to change in the foreseeable future.”

“Our entry into the cable business by the acquisition of Val-U-Tech Corp., May 30th 2008, has proven to be beneficial to the company.  Accordingly, we have engaged an investment banking firm to support our ‘buy-side’ activities to expand our position in cable assemblies.  Though we have looked at a number of opportunities we will not hastily execute a transaction in this turbulent market.”

“In summary, the Company continues to move in the right direction.  We are confident that we are creating value for our customers, our shareholders, and opportunity for our employees.”

As a full service EMS provider, IEC is AS9100 and 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 high reliability printed circuit board assembly, material procurement and control, manufacturing and test engineering support, and systems build. Information regarding IEC’s third quarter 2009 results can be found on its web site at www.iec-electronics.com/documents/finance/Q3-2009release.pdf

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 2008 Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission.

Contact:	Heather Keenan	John Nesbett
	IEC Electronics Corp.	Institutional Marketing Services
	(315) 332-4262	(203) 972 - 9200
	hkeenan@iec-electronics.com	jnesbett@institutionalms.com

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EX-99.2

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

JUN 26, 2009 AND SEP 30, 2008

(In Thousands)

	JUN 26, 2009			SEP 30, 2008
ASSETS
CURRENT ASSETS
Cash		0			0
Accounts Receivable		9,976			10,345
Inventories		6,592			6,230
Deferred Income Taxes		1,908			1,908
Other Current Assets		116			61
Total Current Assets		18,592			18,544
NET FIXED ASSETS		1,944			853
NON-CURRENT ASSETS
Deferred Income Taxes		13,557			14,727
Other Non-Current Assets		50			60
TOTAL ASSETS		34,143			34,184
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		1,197			1,098
Accounts Payable		4,214			6,125
Accrued Payroll and Related Taxes		970			808
Other Accrued Expenses		398			603
Other Current Liabilities		292			664
Total Current Liabilities		7,071			9,298
LONG TERM DEBT		7,864			8,910
TOTAL LIABILITIES		14,935			18,208
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares
Issued – 9,549,420, Outstanding – 8,536,547
Common stock, par value $.01 per share		95			93
Treasury Shares at Cost - 1,012,873 shares		(1,413	)		(223	)
Additional Paid-in Capital		40,490			40,124
Retained Earnings		(19,964	)		(24,018	)
TOTAL SHAREHOLDER’S EQUITY		19,208			15,976
TOTAL LIABILITIES & EQUITY		34,143			34,184

IEC ELECTRONICS CORP - CONSOLIDATED

STATEMENT OF INCOME

FOR QUARTER END & YTD JUN 26, 2009 AND JUN 27, 2008

(In Thousands)

	ACTUAL			PRIOR			ACTUAL			PRIOR
	QUARTER			QUARTER			YTD			YTD
	JUN 26, 2009			JUN 27, 2008			JUN 26, 2009			JUN 27, 2008
Sales		17,346			11,888			49,538			34,988
Cost of Sales		14,556			10,475			41,908			31,046
Gross Profit		2,790			1,413			7,630			3,942
Less: Operating Expenses
Selling & G&A		1,463			828			4,214			2,580
Restructuring		0			0			0			0
Total Operating Expenses		1,463			828			4,214			2,580
Operating Profit		1,327			585			3,416			1,362
Interest and Financing Expense		90			106			304			281
(Gain)/Loss on Disposal of Fixed Assets		0			0			(5	)		(2	)
Other Expense/(Income)		(151	)		302			(212	)		301
Net Income before Income Taxes		1,388			177			3,329			782
Provision for /(benefit from)Income Tax		485			(691	)		(724	)		(1,181	)
Net Income		903			868			4,053			1,963