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

Exhibit 99.2

IEC ELECTRONICS CORP - CONSOLIDATED

BALANCE SHEET

DEC 30, 2011 AND SEP 30, 2011

(In Thousands)

	DEC 30, 2011			SEP 30, 2011
ASSETS
CURRENT ASSETS
Cash		0			0
Accounts Receivable		19,439			19,423
Inventories		17,111			16,093
Deferred Income Taxes		3,863			3,863
Other Current Assets		2,924			1,834
Total Current Assets		43,337			41,213
NET FIXED ASSETS		18,219			17,886
NON-CURRENT ASSETS
Goodwill		13,810			13,810
Intangible Assets		5,851			5,964
Deferred Income Taxes		6,267			6,768
Other Non-Current Assets		164			179
TOTAL ASSETS		87,648			85,820
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short Term Borrowings		6,809			6,896
Accounts Payable		15,012			12,750
Accrued Payroll and Related Taxes		2,837			3,092
Other Accrued Expenses		928			851
Other Current Liabilities		320			332
Total Current Liabilities		25,906			23,921
LONG TERM DEBT		26,952			28,213
TOTAL LIABILITIES		52,858			52,134
SHAREHOLDER'S EQUITY
Authorized - 50,000,000 shares
Issued – 10,835,533, Outstanding – 9,820,075
Common stock, par value $.01 per share		108			108
Treasury Shares at Cost - 1,015,458 shares		(1,435	)		(1,435	)
Additional Paid-in Capital		42,816			42,660
Retained Earnings		(6,699	)		(7,647	)
TOTAL SHAREHOLDER’S EQUITY		34,790			33,686
TOTAL LIABILITIES & EQUITY		87,648			85,820

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IEC ELECTRONICS CORP - CONSOLIDATED 

STATEMENT OF INCOME

FOR QUARTER END & YTD DEC 30, 2011 AND DEC 31, 2010

(In Thousands)

	ACTUAL			PRIOR		ACTUAL			PRIOR
	QUARTER			QUARTER		YTD			YTD
	DEC 30, 2011			DEC 31, 2010		DEC 30, 2011			DEC 31, 2010
Sales		33,859			28,644		33,859			28,644
Cost of Sales		28,372			23,840		28,372			23,840
Gross Profit		5,487			4,804		5,487			4,804
Less: Operating Expenses
Selling & Administrative Expenses		4,533			2,841		4,533			2,841
Operating Profit		954			1,963		954			1,963
Interest and Financing Expense		353			244		353			244
Other (Income)/Expense		(902	)		13		(902	)		13
Net Income before Income Taxes		1,503			1,706		1,503			1,706
Provision for Income Tax		555			657		555			657
Net Income		948			1,049		948			1,049
Basic Earnings Per Share	$	0.10		$	0.11	$	0.10		$	0.11
Diluted Earnings Per Share	$	0.09		$	0.11	$	0.09		$	0.11
Basic Shares		9,645,942			9,224,877		9,645,942			9,224,877
Diluted Shares		10,004,359			9,766,022		10,004,359			9,766,022

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IEC ELECTRONICS CORP - CONSOLIDATED

RECONCILIATION OF NET INCOME TO EBITDA

FOR QUARTER END & YTD DEC 30, 2012 & DEC 31, 2011

	ACTUAL		PRIOR		ACTUAL		PRIOR
	QUARTER		QUARTER		YTD		YTD
	DEC 30, 2011		DEC 31, 2010		DEC 30, 2011		DEC 31, 2010
Net Income		948,210		1,049,141		948,210		1,049,141
Provision for / (benefit from) Income Tax		554,947		656,517		554,947		656,517
Depreciation & Amortization Expense		987,013		489,781		987,013		489,781
Net Interest Expense / (Income)		352,450		243,515		352,450		243,515
EBITDA		2,842,620		2,438,954		2,842,620		2,438,954
Basic Earnings per Share		0.29		0.26		0.29		0.26
Diluted Earnings per Share		0.28		0.25		0.28		0.25
Basic Shares		9,645,942		9,224,877		9,645,942		9,224,877
Diluted Shares		10,004,359		9,766,022		10,004,359		9,766,022

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