SCB ACQUISITION (Tables)

12 Months Ended

Sep. 30, 2012

Business Combinations [Abstract]

Schedule of Purchase Price Allocation [Table Text Block]

Under the acquisition method of accounting, the Company is required to measure and record the fair value of assets acquired and liabilities assumed, as summarized below. The excess of purchase price over the value of identifiable net assets acquired is recorded as goodwill.

	December 17,
SCB Opening Balance Sheet	2010
(thousands, except shares)
Accounts receivable	$	1,576
Inventories		2,896
Other current assets		29
Leasehold improvements		1,169
Machinery & equipment		1,344
Furniture & fixtures		236
Intangible assets		6,000
Goodwill		13,708
Deferred income taxes		122
Total assets acquired		27,080
Accounts payable		560
Accruals and other liabilities		129
Total liabilities assumed		689
Net assets acquired/purchase price	$	26,391
Funded with bank debt	$	25,782
Funded with 100,000 shares of IEC common stock		609
Total funding for SCB acquisition	$	26,391

Schedule Of Revenue and Earnings Of Acquiree From Date Of Acquisition [Table Text Block]

The following table displays the revenue and earnings of SCB from date of acquisition to the end of the fiscal year ending September 30, 2011. The disclosed amounts are included in the accompanying consolidated financial statements.

SCB Operating Results	290 Days Ended
Subsequent to Date of Acquisition	September 30, 2011
(thousands)	(unaudited)
Net sales	$	11,363
Income before provision for income taxes		(233	)
Net income		(222	)

Business Acquisition, Pro Forma Information [Table Text Block]

The following table presents IEC's unaudited, pro forma, consolidated operating results for the fiscal year ending September 30, 2011 as if the SCB acquisition had occurred on the first day of the preceding fiscal year. The pro forma results combine IEC's actual consolidated results for the fiscal year with revenue and earnings generated by SCB during the 2.5-month portion of the fiscal year when it was not a member of the IEC consolidated group. While the pro forma results take into consideration certain estimated changes in expenses resulting from the merged operations, they do not reflect additional revenues that may be generated by combining SCB with other members of the IEC group. The pro forma results are not necessarily equivalent to those that would have been obtained by consummating the SCB acquisition on the earlier date, nor are they necessarily indicative of future results.

	Year Ended
IEC Pro Forma Operating Results	September 30, 2011
(thousands, except share and per share data)	(unaudited)
Net sales	$	137,227
Income before provision for income taxes		10,304
Net income		7,053
Earnings per share:
Basic	$	0.74
Diluted		0.71
Weighted average common and common equivalent shares:
Basic		9,482,336
Diluted		9,988,798

Business Acquisition ProForma Information Nonrecurring Adjustments [Table Text Block]

A summary of adjustments made in preparing IEC’s pro forma information above is provided in the table that follows.

Adjustments Reflected in	Year Ended
Pro Forma Results Table Above	September 30, 2011
(in thousands, except share data)	(unaudited)
	Increase/(decrease)
Cost of sales
Depreciation expense	$	64
Selling and administrative expenses
Compensation	$	(379	)
Sales/marketing expenses		(364	)
Insurance premiums		(76	)
Legal and accounting expenses		(154	)
Contract staffing		(122	)
Amortization of intangibles		86
Corporate allocation		150
Other		(33	)
Total selling and administrative expense adjustments	$	(892	)
Interest expense
Interest on acquisition debt	$	201
Other		(2	)
Total interest expense adjustments	$	199
Other (income)/expense
Eliminate acquisition expenses (legal, accounting, etc.)	$	(109	)
Weighted average common shares outstanding 100,000 shares issued in SCB acquisition, weighted to cover 77 days prior to the acquisition date		21,096