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): June 5, 2018
IEH
Corporation
(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER: 0-5278
New York | 13-5549348 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
140 58th Street, Suite 8E |
Brooklyn, New York 11220 |
(Address and zip code of principal executive offices) |
(718) 492-4440
(Registrant's telephone number, including area code
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:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 | Other Events. |
On June 5, 2018, at approximately 2:30 p.m. (Pacific Daylight Savings Time), David Offerman, President and Chief Executive Officer of IEH Corporation (the “Company” is scheduled to speak at the 8th Annual LD Micro Conference 2018 being held in Los Angeles, CA. A copy of the powerpoint presentation to be delivered and used at such conference is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Information Concerning Forward-Looking Statements
This report and the exhibit attached hereto contain forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”) and Section 27A of the Securities Act of 1933 (the “Securities Act”). Statements contained in this report which are not statements of historical facts may be considered forward-looking information with respect to plans, projections, or future performance of the Company as defined under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those projected. The words “anticipate”, “believe”, “estimate”, “expect”, “objective”, and “think” or similar expressions used herein are intended to identify forward-looking statements. The forward-looking statements are based on the Company’s current views and assumptions and involve risks and uncertainties that include, among other things, the effects of the Company’s business, actions of competitors, changes in laws and regulations, including accounting standards, employee relations, customer demand, prices of purchased raw material and parts, domestic economic conditions, including housing starts and changes in consumer disposable income, and foreign economic conditions, including currency rate fluctuations. Some or all of the facts are beyond the Company’s control. There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management.
Except as may be required by applicable law, the Company does not undertake or intend to update or revise our forward-looking statements, and the Company assumes no obligation to update any forward-looking statements contained in this report as a result of new information or future events or developments. Thus, you should not assume that the Company’s silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. You should carefully review and consider the various disclosures IEH makes in this report and its other reports filed with the Securities Exchange Commission that attempt to advise interested parties of the risks, uncertainties and other factors that may affect our business. For additional information about risks and uncertainties that could adversely affect the Company’s forward-looking statements, please refer to the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended March 31, 2017 and the Quarterly Report on Form 10-Q for the nine-month period ended December 29, 2017.
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits |
Exhibit 99.1 - Powerpoint Presentation, dated June 5, 2018
2
SIGNATURE
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.
IEH Corporation | ||
By: /s/ Robert Knoth | ||
Name: Robert Knoth | ||
Title: Chief Financial Officer | ||
Date: June 5, 2018 |
3
EXHIBIT INDEX
Description
Exhibit 99.1 | Powerpoint presentation of David Offerman, President and Chief Executive Officer of the Company, dated June 5, 2018, to be delivered and used at the 8th Annual LD Micro Conference 2018. |
4
IEH Corporation (IEHC) Presentation for LD Micro Conference June 5 th , 2018 Dave Offerman President, CEO www.iehcorp.com 1
IEH produces Hyperboloidconnectors and contacts, primarily employed in mission- critical military and commercial aerospace applications. In use for over 40 years under the most demanding conditions, IEH’s Hyperboloid technology has proven itself to be the leading design for integrity and reliability. 2 Presentation to LD Micro Conference, June 5 th , 2018
Forward Looking Statements This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or IEH`s future financial performance. Any statements that are not statements of historical fact (including without limitation statements to the effect that the Company or its management "believes", "expects", "anticipates", "plans", “intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or IEH`s actual results to differ materially from those indicated by the forward-looking statements. For a discussion of such risks and uncertainties, see “Risk Factors” in the company’s periodic reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2017. In light of the risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. The forward-looking statements contained in this presentation are made as of the date hereof and may become outdated over time. The Company does not assume any responsibility for updating any forward-looking statements. 3 Presentation to LD Micro Conference, June 5 th , 2018
Hyperboloid Connectors and Contacts 4 Presentation to LD Micro Conference, June 5 th , 2018
-History -What is Hyperboloid -IEH Products -Markets Served -IEH Today -Opportunities/Challenges/Going Forward 5 Presentation to LD Micro Conference, June 5 th , 2018
HISTORY -Founded in 1941 by Louis Offerman -Located in SoHo, NYC -Originally made tools, dies and gauges for the Army during WWII 6 Presentation to LD Micro Conference, June 5 th , 2018
HISTORY -Late 1940’s, began manufacturing tube sockets for consumer electronics industry -Changed name to “Industrial Hardware”, then added “Electronic” in the 50’s, and went public - 7 Presentation to LD Micro Conference, June 5 th , 2018
HISTORY -1960’s -business evolved from tube sockets to transistor sockets -By 1970’s IEH was the largest transistor socket manufacturer in the world, making 70M per year - 8 Presentation to LD Micro Conference, June 5 th , 2018
HISTORY Late 60’s -IEH purchased a non-exclusive license to produce Hyperboloid contacts, from FRB, and achieved qualification to the military specification for PCB connectors. 9 Presentation to LD Micro Conference, June 5 th , 2018
HISTORY Late 70’s through late 80’s -IEH business in military PCB connectors took off, due to customer demand for lower insertion forces. Product offering has grown from there, driven by customer demand and market determinations. - 10 Presentation to LD Micro Conference, June 5 th , 2018
What is Hyperboloid Technology 11 Presentation to LD Micro Conference, June 5 th , 2018
12 http://dxevs33vbhp9s. cloudfront.net/full- promo-video-v2.mp4 Presentation to LD Micro Conference, June 5 th , 2018
13 Presentation to LD Micro Conference, June 5 th , 2018
PCB Connectors IEH Products 14 Presentation to LD Micro Conference, June 5 th , 2018
Power and Signal Contacts 15 Presentation to LD Micro Conference, June 5 th , 2018
Custom Interconnects and Flex/Cable Assemblies 16 Presentation to LD Micro Conference, June 5 th , 2018
NEWHigh-Speed Connectors 17 Presentation to LD Micro Conference, June 5 th , 2018
Avionics Platforms Engine Control Systems Missiles and Torpedoes Guidance Systems Vehicular Electronics Satellites Rocket Launchers Down-hole drilling equipment Medical Devices Industrial and Environmental Controls Hand Held devices Test Equipment Fuel Management Systems Military Radios 18 Presentation to LD Micro Conference, June 5 th , 2018
E-2 AMRAAM THAAD Orion JSF F-35 Patriot Mark-54 Torpedo F14, F15, F18, F22 APKWS Longbow/Apache AH-64 Hubble Space Telescope Airbus A320 Airbus A350 Airbus A380 Boeing 737 Boeing 787MAX E—Taxi Dreamliner COMAC C919 19 Presentation to LD Micro Conference, June 5 th , 2018
Sector Distribution ˜45% Military ˜35% Commercial Aerospace ˜10% Space ˜5% Oil & Gas Exploration ˜5% Other (Medical, Industrial, Test Equipment) 20 Presentation to LD Micro Conference, June 5 th , 2018
Market Distribution as of 3/31/18 ˜88% US ˜12% Overseas 21 Presentation to LD Micro Conference, June 5 th , 2018
Global Presence 22 Presentation to LD Micro Conference, June 5 th , 2018
23 Presentation to LD Micro Conference, June 5 th , 2018
Competition Smiths Interconnect, the only other global Hyperboloid connector manufacturer 24 Presentation to LD Micro Conference, June 5 th , 2018
IEHTODAY -4 th Generation of Family-Run -Located in Brooklyn, NY -165 Employees, 25,000 sqft, 2 shifts + Sat. -Presence in US and 25 other countries 25 Presentation to LD Micro Conference, June 5 th , 2018
0 5000 10000 15000 20000 25000 IEH Revenue Fiscal 2004-2017 (in millions) 26 Presentation to LD Micro Conference, June 5 th , 2018
0 0.5 1 1.5 2 04 05 06 07 08 09 10 11 12 13 14 15 16 17 IEH Net Income Fiscal 2004-2017 (in millions) 27 Presentation to LD Micro Conference, June 5 th , 2018
IEH Share Price 5/1/2008-Present 28 Presentation to LD Micro Conference, June 5 th , 2018
News -IEH moves to OTCQB exchange Feb 2017 -IEH Corporation Announces Special One-Time Cash Dividend Of $0.25 Per Common Share May 2017 29 Presentation to LD Micro Conference, June 5 th , 2018
Opportunities Growing Commercial Aerospace Market “Air traffic will grow at 4.5 per cent annually, requiring some 33,000 new passenger and dedicated freighter aircraft at a value of US$ 5.2 trillion over the next 20 years.”¹ 30 1. http://www.airbus.com/company/market/global-market-forecast-2016-2035/ Presentation to LD Micro Conference, June 5 th , 2018
Opportunities Growing Defense Market “On the defense sector side, heightened global security threats as well as higher defense spending from other major regional powers such as India, China, and Japan are likely to drive global defense sector revenue growth in 2018 and beyond. Global defense spending is anticipated to grow at a CAGR of about 3.0 percent over the 2017–2022 period, crossing US$2 trillion by 2022.”² 31 2. https://www2.deloitte.com/global/en/pages/manufacturing/articles/global-a-and-d-outlook.html Presentation to LD Micro Conference, June 5 th , 2018
Challenges - Labor Costs -Uncertain Trade Landscape -New Competitors 32 Presentation to LD Micro Conference, June 5 th , 2018
Responses - Automate Additional Processes -Continue to diversify products, supply chain, sectors and markets -Continue to provide outstanding technical and sales support 33 Presentation to LD Micro Conference, June 5 th , 2018
Going Forward -New Product Development -Adding Staff, Upgrading Equipment and Software -Increasing online and social media presence -Exploring new markets, regions 34 Presentation to LD Micro Conference, June 5 th , 2018
Thank you for your time! www.iehcorp.com 35
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