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

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

MAR 27, 2009 AND SEP 30, 2008

(In Thousands)

	MAR 27, 2009			SEP 30, 2008
ASSETS
CURRENT ASSETS
Cash		0			0
Accounts Receivable		9,771			10,345
Inventories		7,364			6,230
Deferred Income Taxes		1,908			1,908
Other Current Assets		162			61
Total Current Assets		19,205			18,544
NET FIXED ASSETS		1,122			853
NON-CURRENT ASSETS
Deferred Income Taxes		14,042			14,727
Other Non-Current Assets		54			60
TOTAL ASSETS		34,423			34,184
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		1,072			1,098
Accounts Payable		6,163			6,125
Accrued Payroll and Related Taxes		611			808
Other Accrued Expenses		483			603
Other Current Liabilities		708			664
Total Current Liabilities		9,037			9,298
LONG TERM DEBT		7,148			8,910
TOTAL LIABILITIES		16,185			18,208
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares
Issued – 9,514,049, Outstanding – 8,501,176
Common stock, par value $.01 per share		95			93
Treasury Shares at Cost - 1,012,873 shares		(1,413	)		(223	)
Additional Paid-in Capital		40,423			40,124
Retained Earnings		(20,867	)		(24,018	)
TOTAL SHAREHOLDER’S EQUITY		18,238			15,976
TOTAL LIABILITIES & EQUITY		34,423			34,184

IEC ELECTRONICS CORP - CONSOLIDATED

STATEMENT OF INCOME

FOR QUARTER END & YTD MAR 27, 2009 AND MAR 28, 2008

(In Thousands)

	ACTUAL			PRIOR			ACTUAL			PRIOR
	QUARTER			QUARTER			YTD			YTD
	MAR 27, 2009			MAR 28, 2008			MAR 27, 2009			MAR 28, 2008
Sales		16,335			11,940			32,192			23,100
Cost of Sales		13,728			10,557			27,351			20,571
Gross Profit		2,607			1,383			4,841			2,529
Less: Operating Expenses
Selling & G&A		1,464			998			2,751			1,752
Restructuring		0			0			0			0
Total Operating Expenses		1,464			998			2,751			1,752
Operating Profit		1,143			385			2,090			777
Interest and Financing Expense		91			84			215			176
(Gain)/Loss on Disposal of Fixed Assets		(5	)		(2	)		(5	)		(2	)
Other Expense/(Income)		(61	)		0			(61	)		0
Net Income before Income Taxes		1,118			303			1,941			603
Provision for /(benefit from)Income Tax		(1,501	)		(370	)		(1,209	)		(490	)
Net Income		2,619			673			3,150			1,093