Iec Electronics (IEC) 8-K Results of Operations and Financial Condition

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

SEP 30, 2008 AND SEP 30, 2007

(In Thousands)

	SEP 30, 2008			SEP 30, 2007
ASSETS
CURRENT ASSETS
Cash		0			0
Accounts Receivable		10,345			6,185
Inventories		5,566			3,326
Deferred Income Taxes		1,908			640
Other Current Assets		61			75
Total Current Assets		17,880			10,226
NET FIXED ASSETS		853			1,603
NON-CURRENT ASSETS
Deferred Income Taxes		14,727			0
Other Non-Current Assets		60			16
TOTAL ASSETS		33,520			11,845
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		1,098			1,325
Accounts Payable		6,125			4,937
Accrued Payroll and Related Taxes		808			628
Other Accrued Expenses		603			366
Total Current Liabilities		8,634			7,256
LONG TERM DEBT		8,910			426
TOTAL LIABILITIES		17,544			7,682
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares
Outstanding - 9,326,582 shares
Common stock, par value $.01 per share		93			87
Treasury Shares at Cost (412,873 shares)		(223	)		(223	)
Additional Paid-in Capital		40,124			38,794
Retained Earnings		(24,018	)		(34,495	)
TOTAL SHAREHOLDER'S EQUITY		15,976			4,163
TOTAL LIABILITIES & EQUITY		33,520			11,845

IEC ELECTRONICS CORP - CONSOLIDATED

STATEMENT OF INCOME

FOR QUARTER END & YTD SEP 30, 2008 AND SEP 30, 2007

(In Thousands) 

	ACTUAL QUARTER		PRIOR QUARTER		ACTUAL YTD		PRIOR YTD
	SEP 30, 2008		SEP 30, 2007		SEP 30, 2008		SEP 30, 2007
Sales	16,104		9,605		51,092		40,914
Cost of Sales	13,829		8,781		44,875		37,037
Gross Profit	2,275		824		6,217		3,877
Less: Operating Expenses
Selling & G&A	1,245		680		3,825		2,892
Restructuring	0		0		0		0
Total Operating Expenses	1,245		680		3,825		2,892
Operating Profit	1,030		144		2,392		985
Interest and Financing Expense	170		90		452		440
Other Expense/(Income)	6		(17		306		42
Net Income before Income Taxes	854		71		1,634		503
Provision for /(benefit from)Income Tax	(7,662	)	(225	)	(8,843	)	(372	)
Net Income	8,516		296		10,477		875