Exhibit 99.2
IEC ELECTRONICS CORP - CONSOLIDATED BALANCE SHEET
APR 1, 2005 AND SEP 30, 2004
APR 1, 2005 SEP 30, 2004
ASSETS
CURRENT ASSETS
Cash 570,890 0
Accounts Receivable 2,143,706 3,710,097
Inventories 1,058,755 1,882,482
Deferred Income Taxes 250,000 250,000
Other Current Assets 285,481 337,425
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Total Current Assets 4,308,832 6,180,004
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PROPERTY, PLANT & EQUIPMENT 1,757,790 2,235,765
PREPAID DEBT ACQUISITION 114,078 114,553
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6,180,700 8,530,322
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LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Current Portion of Long Term Liabilites 322,420 1,905,018
Accounts Payable 1,234,833 2,253,486
Accrued Payroll and Related Taxes 430,144 548,444
Other Accrued Expenses 618,967 747,343
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Total Current Liabilities 2,606,364 5,454,291
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LONG TERM VENDOR PAYABLE 104,517 227,175
LONG TERM DEBT - TERM 683,004 233,374
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LONG TERM DEBT - TOTAL 787,521 460,549
SHAREHOLDER'S EQUITY
Common stock, par value $.01 per share
Authorized - 50,000,000 shares
Outstanding - 8,258,715 shares 71,129 70,695
Additional Paid-in Capital 38,521,641 38,506,361
Retained Earnings (35,714,525) (35,870,144)
Cumulative Translation Adj (91,430) (91,430)
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Total Shareholders' Equity 2,786,815 2,615,482
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6,180,700 8,530,322
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IEC ELECTRONICS CORP - CONSOLIDATED STATEMENT OF INCOME
FOR QUARTERS APR 1, 2005 AND MAR 26, 2004
ACTUAL PRIOR ACTUAL PRIOR
QUARTER QUARTER YTD YTD
APR 1, 2005 MAR 26, 2004 APR 1, 2005 MAR 26, 2004
Sales 4,682,155 7,297,620 10,905,519 13,816,277
Cost of Sales 4,019,121 6,564,660 9,492,717 12,513,010
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Gross Profit 663,034 732,960 1,412,802 1,303,267
Less: Operating Expenses
Selling & G&A 587,201 592,528 1,216,140 1,171,662
Restructuring 41,442 0 54,735 0
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Total Operating Expenses 628,643 592,528 1,270,875 1,171,662
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Operating Profit 34,391 140,432 141,927 131,605
Interest and Financing Expense (102,303) (94,741) (199,701) (185,080)
Profit (Loss) on Sale of Assets 113,866 76,935 185,166 292,162
Other Income (Expense) (1,000) 1,000 0 17,000
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Net Income before Income Taxes 44,954 123,626 127,392 255,687
Provision for Income Tax 0 0 0 0
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Income from Discontinued Operations 28,227 0 28,227 0
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Net Income 73,181 123,626 155,619 255,687
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