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

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

DEC 25, 2009 AND SEP 30, 2009

(In Thousands)

	DEC 25, 2009			SEP 30, 2009
ASSETS
CURRENT ASSETS
Cash		0			0
Accounts Receivable		15,242			10,354
Inventories		11,188			6,491
Deferred Income Taxes		2,050			2,050
Other Current Assets		193			110
Total Current Assets		28,673			19,005
NET FIXED ASSETS		11,118			2,391
NON-CURRENT ASSETS
Goodwill		507			0
Deferred Income Taxes		12,620			13,026
Other Non-Current Assets		117			47
TOTAL ASSETS		53,035			34,469
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		2,414			1,147
Accounts Payable		7,299			4,183
Accrued Payroll and Related Taxes		1,313			1,564
Other Accrued Expenses		1,219			531
Other Current Liabilities		413			190
Total Current Liabilities		12,658			7,615
LONG TERM DEBT		19,301			6,600
TOTAL LIABILITIES		31,959			14,215
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares
Issued – 9,833,930, Outstanding – 8,821,057
Common stock, par value $.01 per share		98			97
Treasury Shares at Cost - 1,012,873 shares		(1,413	)		(1,413	)
Additional Paid-in Capital		40,699			40,632
Retained Earnings		(18,308	)		(19,062	)
TOTAL SHAREHOLDER’S EQUITY		21,076			20,254
TOTAL LIABILITIES & EQUITY		53,035			34,469

IEC ELECTRONICS CORP - CONSOLIDATED

STATEMENT OF INCOME

FOR QUARTER END & YTD DEC 25, 2009 AND DEC 26, 2008

(In Thousands)

	ACTUAL		PRIOR		ACTUAL		PRIOR
	QUARTER		QUARTER		YTD		YTD
	DEC 25, 2009		DEC 26, 2008		DEC 25, 2009		DEC 26, 2008
Sales		18,060		15,857		18,060		15,857
Cost of Sales		15,247		13,623		15,247		13,623
Gross Profit		2,813		2,234		2,813		2,234
Less: Operating Expenses
Selling & G&A		1,500		1,287		1,500		1,287
Restructuring		0		0		0		0
Total Operating Expenses		1,500		1,287		1,500		1,287
Operating Profit		1,313		947		1,313		947
Interest and Financing Expense		95		124		95		124
Other Expense/(Income)		59		0		59		0
Net Income before Income Taxes		1,159		823		1,159		823
Provision for /(benefit from)Income Tax		406		291		406		291
Net Income		753		532		753		532