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

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

JUN 25, 2010 AND SEP 30, 2009

(In Thousands)

	JUN 25, 2010			SEP 30, 2009
ASSETS
CURRENT ASSETS
Cash		1,274			0
Accounts Receivable		16,070			10,354
Inventories		10,281			6,491
Deferred Income Taxes		2,050			2,050
Other Current Assets		273			110
Total Current Assets		29,948			19,005
NET FIXED ASSETS		11,368			2,391
NON-CURRENT ASSETS
Intangible Asset		340			0
Deferred Income Taxes		11,473			13,026
Other Non-Current Assets		104			47
TOTAL ASSETS		53,233			34,469
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		2,494			1,147
Accounts Payable		6,495			4,183
Accrued Payroll and Related Taxes		1,926			1,564
Other Accrued Expenses		1,245			531
Other Current Liabilities		115			190
Total Current Liabilities		12,275			7,615
LONG TERM DEBT		17,278			6,600
TOTAL LIABILITIES		29,553			14,215
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares Issued – 10,103,759, Outstanding – 9,090,886
Common stock, par value $.01 per share		101			97
Treasury Shares at Cost - 1,012,873 shares		(1,413	)		(1,413	)
Additional Paid-in Capital		41,027			40,632
Retained Earnings		(16,035	)		(19,062	)
TOTAL SHAREHOLDER’S EQUITY		23,680			20,254
TOTAL LIABILITIES & EQUITY		53,233			34,469

IEC ELECTRONICS CORP - CONSOLIDATED

STATEMENT OF INCOME

FOR QUARTER END & YTD JUN 25, 2010 AND JUN 26, 2009

(In Thousands)

	ACTUAL		PRIOR			ACTUAL		PRIOR
	QUARTER		QUARTER			YTD		YTD
	JUN 25, 2010		JUN 26, 2009			JUN 25, 2010		JUN 26, 2009
Sales		26,095		17,346			69,387		49,538
Cost of Sales		21,439		14,556			57,900		41,908
Gross Profit		4,656		2,790			11,487		7,630
Less: Operating Expenses
Selling & G&A		2,388		1,463			5,922		4,214
Restructuring		0		0			0		0
Total Operating Expenses		2,388		1,463			5,922		4,214
Operating Profit		2,268		1,327			5,565		3,416
Interest and Financing Expense		238		90			594		304
Other Expense/(Income)		17		(151	)		205		(217	)
Net Income before Income Taxes		2,013		1,388			4,766		3,329
Provision for /(benefit from)Income Tax		775		485			1,739		(724	)
Net Income		1,238		903			3,027		4,053
Basic Earnings Per Share	$	0.14	$	0.11		$	0.34	$	0.46
Diluted Earnings Per Share	$	0.13	$	0.10		$	0.32	$	0.43
Basic Shares		9,055,280		8,524,317			8,955,212		8,745,240
Diluted Shares		9,629,326		9,322,368			9,608,748		9,386,616

IEC ELECTRONICS CORP - CONSOLIDATED

RECONCILIATION OF NET INCOME TO EBITDA

FOR QUARTER END & YTD JUN 25, 2010 AND JUN 26, 2009

(In Thousands)

	ACTUAL		PRIOR		ACTUAL		PRIOR
	QUARTER		QUARTER		YTD		YTD
	JUN 25, 2010		JUN 26, 2009		JUN 25, 2010		JUN 26, 2009
Net Income		1,238		903		3,027		4,053
Provision for /(benefit from) Income Tax		775		485		1,739		(724	)
Depreciation and Amortization Expense		312		93		725		215
Net Interest Expense / (Income)		238		90		594		304
EBITDA		2,563		1,571		6,085		3,848
Basic Earnings Per Share	$	0.28	$	0.18	$	0.68	$	0.44
Diluted Earnings Per Share	$	0.27	$	0.17	$	0.63	$	0.41
Basic Shares		9,055,280		8,524,317		8,955,212		8,745,240
Diluted Shares		9,629,326		9,322,368		9,608,748		9,386,616