EX-99.2 3 v165291_ex99-2.htm Unassociated Document
Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED
BALANCE SHEET
SEP 30, 2009 AND SEP 30, 2008
(In Thousands)

   
SEP 30, 2009
   
SEP 30, 2008
 
ASSETS
           
             
CURRENT ASSETS
           
   Cash
    0       0  
   Accounts Receivable
    10,354       10,345  
   Inventories
    6,491       6,230  
   Deferred Income Taxes
    2,050       1,908  
   Other Current Assets
    110       61  
      Total Current Assets
    19,005       18,544  
                 
NET FIXED ASSETS
    2,391       853  
                 
NON-CURRENT ASSETS
               
   Deferred Income Taxes
    13,026       14,727  
   Other Non-Current Assets
    47       60  
TOTAL ASSETS
    34,469       34,184  
                 
LIABILITIES AND SHAREHOLDERS' EQUITY
               
                 
CURRENT LIABILITIES
               
   Short Term Borrowings
    1,147       1,098  
   Accounts Payable
    4,183       6,125  
   Accrued Payroll and Related Taxes
    1,564       808  
   Other Accrued Expenses
    531       603  
   Other Current Liabilities
    190       664  
      Total Current Liabilities
    7,615       9,298  
                 
LONG TERM DEBT
    6,600       8,910  
TOTAL LIABILITIES
    14,215       18,208  
                 
SHAREHOLDER'S EQUITY
               
    Authorized - 50,000,000 shares
               
    Issued – 9,747,283, Outstanding – 8,734,410
               
   Common stock, par value $.01 per share
    97       93  
   Treasury Shares at Cost - 1,012,873 shares
    (1,413 )     (223 )
   Additional Paid-in Capital
    40,632       40,124  
   Retained Earnings
    (19,062 )     (24,018 )
TOTAL SHAREHOLDER’S EQUITY
    20,254       15,976  
                 
TOTAL LIABILITIES & EQUITY
    34,469       34,184  

 
 

 

IEC ELECTRONICS CORP - CONSOLIDATED
STATEMENT OF INCOME
FOR QUARTER END & YTD SEP 30, 2009 AND SEP 30, 2008
(In Thousands)

   
ACTUAL
   
PRIOR
   
ACTUAL
   
PRIOR
 
   
QUARTER
   
QUARTER
   
YTD
   
YTD
 
   
SEP 30, 2009
   
SEP 30, 2008
   
SEP 30, 2009
   
SEP 30, 2008
 
                         
Sales
    18,273       16,104       67,811       51,092  
Cost of Sales
    15,077       13,829       56,985       44,875  
Gross Profit
    3,196       2,275       10,826       6,217  
                                 
Less: Operating Expenses
                               
   Selling & G&A
    1,793       1,245       6,007       3,825  
   Restructuring
    0       0       0       0  
Total Operating Expenses
    1,793       1,245       6,007       3,825  
                                 
Operating Profit
    1,403       1,030       4,819       2,392  
                                 
Interest and Financing Expense
    84       170       389       452  
Other Expense/(Income)
    (70 )     6       (287 )     306  
Net Income before Income Taxes
    1,389       854       4,718       1,634  
                                 
   Provision for /(benefit from)Income Tax
    486       (7,662 )     (238 )     (8,843 )
                                 
Net Income
    903       8,516       4,956       10,477