Exhibit 99.2
IEC ELECTRONICS CORP -
CONSOLIDATED BALANCE SHEET
MAR 26, 2004 AND SEP 30, 2003
MAR 26, 2004 SEP 30, 2003
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ASSETS
CURRENT ASSETS
Cash 146,232 793,341
Accounts Receivable 4,759,208 4,003,641
Inventories 2,112,759 1,633,119
Deferred Income Taxes 250,000 250,000
Other Current Assets 231,229 329,232
Current Assets - Discontinued Operations 56,614 121,466
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Total Current Assets 7,556,042 7,130,803
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PROPERTY, PLANT & EQUIPMENT 2,652,798 3,173,090
PREPAID DEBT ACQUISITION 158,371 202,188
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10,367,211 10,506,081
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LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Current Portion of Long Term Liabilites 1,042,029 1,277,387
Accounts Payable 3,343,257 2,740,599
Accrued Payroll and Related Taxes 589,381 794,078
Other Accrued Expenses 626,277 674,948
Liabilities from Discontinued Operations 203,882 216,068
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Total Current Liabilities 5,804,826 5,703,080
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LONG TERM VENDOR PAYABLE 301,902 455,903
LONG TERM DEBT - TERM 583,352 933,329
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LONG TERM DEBT - TOTAL 885,254 1,389,232
SHAREHOLDER'S EQUITY
Common stock, par value $.01 per share
Authorized - 50,000,000 shares
Outstanding - 8,021,960 shares 69,835 68,760
Additional Paid-in Capital 38,485,207 38,478,608
Retained Earnings (34,786,481) (35,042,169)
Cumulative Translation Adj (91,430) (91,430)
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Total Shareholders' Equity 3,677,131 3,413,769
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10,367,211 10,506,081
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IEC ELECTRONICS CORP -
CONSOLIDATED STATEMENT OF INCOME
FOR QUARTERS MAR 26, 2004 AND MAR 28, 2003
ACTUAL PRIOR ACTUAL PRIOR
QUARTER QUARTER YTD YTD
MAR 26, 2004 MAR 28, 2003 MAR 26, 2004 MAR 28, 2003
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Sales 7,297,620 15,468,957 13,816,277 25,069,507
Cost of Sales 6,574,304 14,222,860 12,522,654 22,834,811
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Gross Profit 723,316 1,246,097 1,293,623 2,234,696
Less: Operating Expenses
Selling 592,528 900,382 1,171,662 1,653,040
Restructuring 0 0 0 (63,300)
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Total Operating Expenses 592,528 900,493 1,171,662 1,589,740
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Operating Profit 130,788 345,715 121,961 644,956
Interest and Financing Expense (94,741) (190,036) (185,080) (387,534)
Forgiveness of Accounts Payable 9,644 378,025 9,644 623,240
Profit (Loss) on Sale of Assets 77,935 9,000 309,162 104,500
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Net Income before Income Taxes 123,626 542,704 255,687 985,162
Provision for Income Tax 0 0 0 0
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Income from Discontinued Operations 0 184,029 0 184,029
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Net Income 123,626 726,733 255,687 1,169,191
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