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

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

SEP 30, 2009 AND SEP 30, 2008

(In Thousands)

	SEP 30, 2009			SEP 30, 2008
ASSETS
CURRENT ASSETS
Cash		0			0
Accounts Receivable		10,354			10,345
Inventories		6,491			6,230
Deferred Income Taxes		2,050			1,908
Other Current Assets		110			61
Total Current Assets		19,005			18,544
NET FIXED ASSETS		2,391			853
NON-CURRENT ASSETS
Deferred Income Taxes		13,026			14,727
Other Non-Current Assets		47			60
TOTAL ASSETS		34,469			34,184
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		1,147			1,098
Accounts Payable		4,183			6,125
Accrued Payroll and Related Taxes		1,564			808
Other Accrued Expenses		531			603
Other Current Liabilities		190			664
Total Current Liabilities		7,615			9,298
LONG TERM DEBT		6,600			8,910
TOTAL LIABILITIES		14,215			18,208
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares
Issued – 9,747,283, Outstanding – 8,734,410
Common stock, par value $.01 per share		97			93
Treasury Shares at Cost - 1,012,873 shares		(1,413	)		(223	)
Additional Paid-in Capital		40,632			40,124
Retained Earnings		(19,062	)		(24,018	)
TOTAL SHAREHOLDER’S EQUITY		20,254			15,976
TOTAL LIABILITIES & EQUITY		34,469			34,184

IEC ELECTRONICS CORP - CONSOLIDATED

STATEMENT OF INCOME

FOR QUARTER END & YTD SEP 30, 2009 AND SEP 30, 2008

(In Thousands)

	ACTUAL			PRIOR			ACTUAL			PRIOR
	QUARTER			QUARTER			YTD			YTD
	SEP 30, 2009			SEP 30, 2008			SEP 30, 2009			SEP 30, 2008
Sales		18,273			16,104			67,811			51,092
Cost of Sales		15,077			13,829			56,985			44,875
Gross Profit		3,196			2,275			10,826			6,217
Less: Operating Expenses
Selling & G&A		1,793			1,245			6,007			3,825
Restructuring		0			0			0			0
Total Operating Expenses		1,793			1,245			6,007			3,825
Operating Profit		1,403			1,030			4,819			2,392
Interest and Financing Expense		84			170			389			452
Other Expense/(Income)		(70	)		6			(287	)		306
Net Income before Income Taxes		1,389			854			4,718			1,634
Provision for /(benefit from)Income Tax		486			(7,662	)		(238	)		(8,843	)
Net Income		903			8,516			4,956			10,477