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

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

APR 01, 2011 AND SEP 30, 2010

(In Thousands)

	APR 01, 2010			SEP 30, 2010
ASSETS
CURRENT ASSETS
Cash		0			0
Accounts Receivable		19,466			16,315
Inventories		19,823			12,068
Deferred Income Taxes		3,940			3,359
Other Current Assets		275			234
Total Current Assets		43,504			31,976
NET FIXED ASSETS		19,678			13,098
NON-CURRENT ASSETS
Goodwill		13,009			58
Intangible Assets		5,363			331
Deferred Income Taxes		8,084			10,113
Other Non-Current Assets		206			106
TOTAL ASSETS		89,844			55,682
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		7,017			2,899
Accounts Payable		11,179			8,145
Accrued Payroll and Related Taxes		2,158			2,279
Other Accrued Expenses		970			941
Other Current Liabilities		553			0
Total Current Liabilities		21,877			14,264
LONG TERM DEBT		38,759			15,999
TOTAL LIABILITIES		60,636			30,263
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares Issued – 10,634,910, Outstanding – 9,622,037
Common stock, par value $.01 per share		106			101
Treasury Shares at Cost - 1,012,873 shares		(1,413	)		(1,413	)
Additional Paid-in Capital		42,126			41,138
Retained Earnings		(11,611	)		(14,407	)
TOTAL SHAREHOLDER’S EQUITY		29,208			25,419
TOTAL LIABILITIES & EQUITY		89,844			55,682

IEC ELECTRONICS CORP - CONSOLIDATED

STATEMENT OF INCOME

FOR QUARTER END & YTD APR 01, 2011 AND MAR 26, 2010

(In Thousands)

	ACTUAL QUARTER APR 01, 2011		PRIOR QUARTER MAR 26, 2010		ACTUAL YTD APR 01, 2011		PRIOR YTD MAR 26, 2010
Sales		35,085		25,232		63,729		43,292
Cost of Sales		28,141		21,214		52,202		36,461
Gross Profit		6,944		4,018		11,527		6,831
Less: Operating Expenses
Selling & G&A		3,621		2,035		6,241		3,535
Other		0		0		0		0
Total Operating Expenses		3,621		2,035		6,241		3,535
Operating Profit		3,323		1,983		5,286		3,296
Interest and Financing Expense		480		260		723		355
Other Expense/(Income)		115		130		130		188
Net Income before Income Taxes		2,728		1,593		4,433		2,753
Provision for /(benefit from)Income Tax		981		557		1,637		963
Net Income		1,747		1,036		2,796		1,790
Basic Earnings Per Share	$	0.18	$	0.12	$	0.30	$	0.20
Diluted Earnings Per Share	$	0.17	$	0.11	$	0.28	$	0.19
Basic Shares		9,576,152		8,974,796		9,399,555		8,903,765
Diluted Shares		9,996,928		9,651,921		9,887,922		9,593,155

IEC ELECTRONICS CORP - CONSOLIDATED

RECONCILIATION OF NET INCOME TO EBITDA

FOR QUARTER END & YTD APR 01, 2011 AND MAR 26, 2010

(In Thousands)

	ACTUAL QUARTER APR 01, 2011		PRIOR QUARTER MAR 26, 2010		ACTUAL YTD APR 01, 2011		PRIOR YTD MAR 26, 2010
Net Income		1,747		1,036		2,796		1,790
Provision for /(benefit from) Income Tax		981		557		1,637		963
Depreciation and Amortization Expense		797		277		1,286		414
Net Interest Expense / (Income)		480		260		723		355
EBITDA		4,005		2,130		6,442		3,522
Basic Earnings Per Share	$	0.42	$	0.24	$	0.69	$	0.40
Diluted Earnings Per Share	$	0.40	$	0.22	$	0.65	$	0.37
Basic Shares		9,576,152		8,974,796		9,399,555		8,903,765
Diluted Shares		9,996,928		9,651,921		9,887,922		9,593,155