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

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

MAR 26, 2010 AND SEP 30, 2009

(In Thousands)

	MAR 26, 2010			SEP 30, 2009
ASSETS
CURRENT ASSETS
Cash		0			0
Accounts Receivable		14,669			10,354
Inventories		12,061			6,491
Deferred Income Taxes		2,050			2,050
Other Current Assets		372			110
Total Current Assets		29,152			19,005
NET FIXED ASSETS		11,318			2,391
NON-CURRENT ASSETS
Intangible Asset		360			0
Deferred Income Taxes		12,088			13,026
Other Non-Current Assets		111			47
TOTAL ASSETS		53,029			34,469
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		2,477			1,147
Accounts Payable		8,224			4,183
Accrued Payroll and Related Taxes		1,667			1,564
Other Accrued Expenses		1,077			531
Other Current Liabilities		252			190
Total Current Liabilities		13,697			7,615
LONG TERM DEBT		17,100			6,600
TOTAL LIABILITIES		30,797			14,215
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares
Issued – 10,007,371, Outstanding – 8,994,498
Common stock, par value $.01 per share		100			97
Treasury Shares at Cost - 1,012,873 shares		(1,413	)		(1,413	)
Additional Paid-in Capital		40,817			40,632
Retained Earnings		(17,272	)		(19,062	)
TOTAL SHAREHOLDER’S EQUITY		22,232			20,254
TOTAL LIABILITIES & EQUITY		53,029			34,469

IEC ELECTRONICS CORP - CONSOLIDATED

STATEMENT OF INCOME

FOR QUARTER END & YTD MAR 26, 2010 AND MAR 27, 2009

(In Thousands)

	ACTUAL		PRIOR			ACTUAL		PRIOR
	QUARTER		QUARTER			YTD		YTD
	MAR 26, 2010		MAR 27, 2009			MAR 26, 2010		MAR 27, 2009
Sales		25,232		16,335			43,292		32,192
Cost of Sales		21,214		13,728			36,461		27,351
Gross Profit		4,018		2,607			6,831		4,841
Less: Operating Expenses
Selling & G&A		2,035		1,464			3,535		2,751
Restructuring		0		0			0		0
Total Operating Expenses		2,035		1,464			3,535		2,751
Operating Profit		1,983		1,143			3,296		2,090
Interest and Financing Expense		261		91			355		215
Other Expense/(Income)		129		(66	)		188		(66	)
Net Income before Income Taxes		1,593		1,118			2,753		1,941
Provision for /(benefit from)Income Tax		557		(1,501	)		964		(1,209	)
Net Income		1,036		2,619			1,789		3,150

IEC ELECTRONICS CORP - CONSOLIDATED

RECONCILIATION OF NET INCOME TO EDITDA

FOR QUARTER END & YTD MAR 26, 2010 AND MAR 27, 2009

(In Thousands)

	ACTUAL		PRIOR			ACTUAL		PRIOR
	QUARTER		QUARTER			YTD		YTD
	MAR 26, 2010		MAR 27, 2009			MAR 26, 2010		MAR 27, 2009
Net Income		1,036		2,619			1,789		3,150
Provision for /(benefit from)Income Tax		557		(1,501	)		964		(1,209	)
Depreciation and Amortization Expense		277		75			414		122
Net Interest Expense / (Income)		261		91			355		215
EBITDA		2,131		1,284			3,522		2,278