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IEC Electronics Corp.
105 Norton Street o PO Box 271 o Newark, NY 14513
o Ph: (315) 331-7742 o Fax: (315) 331-3547 o www.iec-electronics.com
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EXHIBIT 99.1
IEC ANNOUNCES ADDITION OF VICE PRESIDENT OF SALES AND MARKETING
Newark, NY, May 7, 2004 - IEC Electronics Corp. (IECE.OB) announced today the
addition of Jeffrey Schlarbaum as Vice President of Sales and Marketing. Mr.
Schlarbaum brings 15 years of sales experience in the contract electronics
manufacturing industry to IEC.
"We are pleased to add Jeff to the IEC team" said W. Barry Gilbert, IEC's CEO
and Chairman of the Board. "Jeff brings a wealth of experience and proven
results to the company and we look forward to his contributions. With more than
15 years in the industry, we believe that Jeff will be instrumental in further
strengthening our sales and marketing efforts. Jeff's industry knowledge and
leadership skills will help focus our efforts in ways that add the most value to
our business."
Mr. Schlarbaum most recently was Vice President of Sales - Eastern Region for
Plexus Corporation. Prior to that he worked as Vice President of Sales - Eastern
Region for MCMS and as Business Unit Director for MACK Technologies.
He holds a Bachelors of Business Administration degree from National University
with a concentration in Marketing, graduating Magna Cum Laude, and an MBA from
Pepperdine University.
IEC also announced the early retirement of Chief Operating Officer Bill R.
Anderson. Mr. Anderson has elected to leave his position to pursue other
opportunities closer to his home in central Pennsylvania. At this time the
position of Chief Operating officer will not be filled.
CEO and Chairman Barry Gilbert stated, "In his many years of service with IEC,
Bill has brought great value to the Company and we thank him for his
contribution and all that he has accomplished. While there is a loss with Mr.
Anderson leaving, we believe the addition of Jeff Schlarbaum and the balance of
the senior management team are well positioned to continue rebuilding and
strengthening the company's ability to once again become a leader in the
electronics manufacturing services industry. Our number one focus continues to
be steady profitable growth and expanding our customer base."
IEC is a full service, ISO-9001:2000 registered EMS provider. The Company offers
its customers a wide range of services including design, prototype and volume
printed circuit board assembly, material procurement and control, manufacturing
and test engineering support, systems build, final packaging and distribution.
Information regarding IEC can be found on its web site at
www.iec-electronics.com.
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The foregoing, including any discussion regarding the Company's future
prospects, contains certain forward-looking statements that involve risks and
uncertainties, including uncertainties associated with economic conditions in
the electronics industry, particularly in the principal industry sectors served
by the Company, changes in customer requirements and in the volume of sales to
principal customers, competition and technological change, the ability of the
Company to control manufacturing and operating costs, satisfactory relationships
with vendors. The Company's actual results of operations may differ
significantly from those contemplated by any forward-looking statements as a
result of these and other factors, including factors set forth in the Company's
2003 Annual Report on Form 10-K and in other filings with the Securities and
Exchange Commission.
Contact:
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Heather Keenan
Marketing Communications Specialist
315-332-4262
hkeenan@iec-electronics.com
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