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

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

JUL 01, 2011 AND SEP 30, 2010

(In Thousands)

	JUL 01, 2011			SEP 30, 2010
ASSETS
CURRENT ASSETS
Cash		0			0
Accounts Receivable		20,303			16,315
Inventories		17,481			12,068
Deferred Income Taxes		3,940			3,359
Other Current Assets		356			234
Total Current Assets		42,080			31,976
NET FIXED ASSETS		18,195			13,098
NON-CURRENT ASSETS
Goodwill		13,810			58
Intangible Assets		6,077			331
Deferred Income Taxes		7,430			10,113
Other Non-Current Assets		192			106
TOTAL ASSETS		87,784			55,682
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		6,939			2,899
Accounts Payable		7,766			8,145
Accrued Payroll and Related Taxes		2,212			2,279
Other Accrued Expenses		1,155			941
Other Current Liabilities		406			0
Total Current Liabilities		18,478			14,264
LONG TERM DEBT		38,438			15,999
TOTAL LIABILITIES		56,916			30,263
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares
Issued – 10,811,188, Outstanding – 9,795,730
Common stock, par value $.01 per share		108			101
Treasury Shares at Cost - 1,015,458 shares		(1,435	)		(1,413	)
Additional Paid-in Capital		42,473			41,138
Retained Earnings		(10,278	)		(14,407	)
TOTAL SHAREHOLDER’S EQUITY		30,868			25,419
TOTAL LIABILITIES & EQUITY		87,784			55,682

IEC ELECTRONICS CORP - CONSOLIDATED

STATEMENT OF INCOME

FOR QUARTER END & YTD JUL 01, 2011 AND JUN 25, 2010

(In Thousands)

	ACTUAL		PRIOR		ACTUAL		PRIOR
	QUARTER		QUARTER		YTD		YTD
	JUL 01, 2011		JUN 25, 2010		JUL 01, 2011		JUN 25, 2010
Sales		34,626		26,095		98,355		69,387
Cost of Sales		28,470		21,439		80,672		57,900
Gross Profit		6,156		4,656		17,683		11,487
Less: Operating Expenses
Selling & G&A		3,533		2,388		9,774		5,922
Other		0		0		0		0
Total Operating Expenses		3,533		2,388		9,774		5,922
Operating Profit		2,623		2,268		7,909		5,565
Interest and Financing Expense		491		238		1,214		594
Other Expense/(Income)		4		17		134		205
Net Income before Income Taxes		2,128		2,013		6,561		4,766
Provision for /(benefit from)Income Tax		795		775		2,432		1,739
Net Income		1,333		1,238		4,129		3,027
Basic Earnings Per Share	$	0.14	$	0.14	$	0.43	$	0.34
Diluted Earnings Per Share	$	0.13	$	0.13	$	0.42	$	0.32
Basic Shares		9,776,888		9,055,280		9,524,874		8,955,212
Diluted Shares		10,021,932		9,629,326		9,932,446		9,606,748

IEC ELECTRONICS CORP - CONSOLIDATED

RECONCILIATION OF NET INCOME TO EBITDA

FOR QUARTER END & YTD JUL 01, 2011 AND JUN 25, 2010

(In Thousands)

	ACTUAL		PRIOR		ACTUAL		PRIOR
	QUARTER		QUARTER		YTD		YTD
	JUL 01, 2011		JUN 25, 2010		JUL 01, 2011		JUN 25, 2010
Net Income		1,333		1,238		4,129		3,027
Provision for /(benefit from) Income Tax		795		775		2,432		1,739
Depreciation and Amortization Expense		864		304		2,150		707
Net Interest Expense / (Income)		491		238		1,214		594
EBITDA		3,483		2,555		9,925		6,067
Basic Earnings Per Share	$	0.36	$	0.28	$	1.04	$	0.68
Diluted Earnings Per Share	$	0.35	$	0.27	$	1.00	$	0.63
Basic Shares		9,776,888		9,055,280		9,524,874		8,955,212
Diluted Shares		10,021,932		9,629,326		9,932,446		9,606,748