Attached files
| file | filename |
|---|---|
| 8-K - IEC ELECTRONICS CORP | v201486_8k.htm |
| EX-99.1 - IEC ELECTRONICS CORP | v201486_ex99-1.htm |
Exhibit
99.2
IEC
ELECTRONICS CORP - CONSOLIDATED
BALANCE
SHEET
SEP 30,
2010 AND SEP 30, 2009
(In
Thousands)
|
SEP
30, 2010
|
SEP
30, 2009
|
|||||||
|
ASSETS
|
||||||||
|
CURRENT
ASSETS
|
||||||||
|
Cash
|
0 | 0 | ||||||
|
Accounts
Receivable
|
16,315 | 10,354 | ||||||
|
Inventories
|
12,068 | 6,491 | ||||||
|
Deferred
Income Taxes
|
3,359 | 2,050 | ||||||
|
Other
Current Assets
|
234 | 110 | ||||||
|
Total
Current Assets
|
31,976 | 19,005 | ||||||
|
NET
FIXED ASSETS
|
13,098 | 2,391 | ||||||
|
NON-CURRENT
ASSETS
|
||||||||
|
Intangible
Asset
|
331 | 0 | ||||||
|
Deferred
Income Taxes
|
10,113 | 13,026 | ||||||
|
Other
Non-Current Assets
|
164 | 47 | ||||||
|
TOTAL
ASSETS
|
55,682 | 34,469 | ||||||
|
LIABILITIES
AND SHAREHOLDERS' EQUITY
|
||||||||
|
CURRENT
LIABILITIES
|
||||||||
|
Short
Term Borrowings
|
2,899 | 1,147 | ||||||
|
Accounts
Payable
|
8,145 | 4,183 | ||||||
|
Accrued
Payroll and Related Taxes
|
2,279 | 1,564 | ||||||
|
Other
Accrued Expenses
|
941 | 531 | ||||||
|
Other
Current Liabilities
|
0 | 190 | ||||||
|
Total
Current Liabilities
|
14,264 | 7,615 | ||||||
|
LONG
TERM DEBT
|
15,999 | 6,600 | ||||||
|
TOTAL
LIABILITIES
|
30,263 | 14,215 | ||||||
|
SHAREHOLDER'S
EQUITY
|
||||||||
|
Authorized
- 50,000,000 shares
|
||||||||
|
Issued
– 10,100,589, Outstanding – 9,087,716
|
||||||||
|
Common
stock, par value $.01 per share
|
101 | 97 | ||||||
|
Treasury
Shares at Cost - 1,012,873 shares
|
(1,413 | ) | (1,413 | ) | ||||
|
Additional
Paid-in Capital
|
41,138 | 40,632 | ||||||
|
Retained
Earnings (Deficit)
|
(14,407 | ) | (19,062 | ) | ||||
|
TOTAL
SHAREHOLDER’S EQUITY
|
25,419 | 20,254 | ||||||
|
TOTAL
LIABILITIES & EQUITY
|
55,682 | 34,469 | ||||||
IEC
ELECTRONICS CORP - CONSOLIDATED
STATEMENT
OF INCOME
FOR
QUARTER END & YTD SEP 30, 2010 AND SEP 30, 2009
(In
Thousands)
|
ACTUAL
|
PRIOR
|
ACTUAL
|
PRIOR
|
|||||||||||||
|
QUARTER
|
QUARTER
|
YTD
|
YTD
|
|||||||||||||
|
SEP
30, 2010
|
SEP
30, 2009
|
SEP
30, 2010
|
SEP
30, 2009
|
|||||||||||||
|
Sales
|
27,287 | 18,273 | 96,674 | 67,811 | ||||||||||||
|
Cost
of Sales
|
22,511 | 15,077 | 80,411 | 56,985 | ||||||||||||
|
Gross
Profit
|
4,776 | 3,196 | 16,263 | 10,826 | ||||||||||||
|
Less:
Operating Expenses
|
||||||||||||||||
|
Selling
& G&A
|
2,654 | 1,792 | 8,576 | 6,006 | ||||||||||||
|
Other
|
0 | 0 | 0 | 0 | ||||||||||||
|
Total
Operating Expenses
|
2,654 | 1,792 | 8,576 | 6,006 | ||||||||||||
|
Operating
Profit
|
2,122 | 1,404 | 7,687 | 4,820 | ||||||||||||
|
Interest
and Financing Expense
|
220 | 85 | 814 | 389 | ||||||||||||
|
Other
Expense/(Income)
|
(387 | ) | (70 | ) | (182 | ) | (287 | ) | ||||||||
|
Income
before Income Taxes
|
2,289 | 1,389 | 7,055 | 4,718 | ||||||||||||
|
Provision
for /(benefit from) Income Tax
|
661 | 486 | 2,400 | (238 | ) | |||||||||||
|
Net
Income
|
1,628 | 903 | 4,655 | 4,956 | ||||||||||||
|
Basic
Earnings Per Share
|
$ | 0.18 | $ | 0.10 | $ | 0.52 | $ | 0.57 | ||||||||
|
Diluted
Earnings Per Share
|
$ | 0.17 | $ | 0.09 | $ | 0.48 | $ | 0.52 | ||||||||
|
Basic
Shares
|
9,086,793 | 8,683,226 | 8,990,180 | 8,728,930 | ||||||||||||
|
Diluted
Shares
|
9,599,377 | 9,621,288 | 9,608,174 | 9,553,526 | ||||||||||||
IEC
ELECTRONICS CORP - CONSOLIDATED
RECONCILIATION
OF NET INCOME TO EBITDA
FOR
QUARTER END & YTD SEP 30, 2010 AND SEP 30, 2009
(In
Thousands)
|
ACTUAL
|
PRIOR
|
ACTUAL
|
PRIOR
|
|||||||||||||
|
QUARTER
|
QUARTER
|
YTD
|
YTD
|
|||||||||||||
|
SEP
30, 2010
|
SEP
30, 2009
|
SEP
30, 2010
|
SEP
30, 2009
|
|||||||||||||
|
Net
Income
|
1,628 | 903 | 4,655 | 4,956 | ||||||||||||
|
Provision
for /(benefit from) Income Tax
|
661 | 486 | 2,400 | (238 | ) | |||||||||||
|
Depreciation
and Amortization Expense
|
499 | 67 | 1,224 | 282 | ||||||||||||
|
Net
Interest Expense / (Income)
|
220 | 85 | 814 | 389 | ||||||||||||
|
EBITDA
|
3,008 | 1,541 | 9,093 | 5,389 | ||||||||||||
|
Basic
Earnings Per Share
|
$ | 0.33 | $ | 0.18 | $ | 1.01 | $ | 0.62 | ||||||||
|
Diluted
Earnings Per Share
|
$ | 0.31 | $ | 0.16 | $ | 0.95 | $ | 0.56 | ||||||||
|
Basic
Shares
|
9,086,793 | 8,683,226 | 8,990,180 | 8,728,930 | ||||||||||||
|
Diluted
Shares
|
9,599,377 | 9,621,288 | 9,608,174 | 9,553,526 | ||||||||||||