Exhibit 99.2
IEC ELECTRONICS CORP - CONSOLIDATED
BALANCE SHEET
MAR 31, 2006 AND SEP 30, 2005
Mar 31, 2006 SEP 30, 2005
ASSETS
CURRENT ASSETS
Cash 0 460,586
Accounts Receivable 4,439,063 2,343,994
Inventories 2,275,867 629,808
Deferred Income Taxes 250,000 250,000
Other Current Assets 216,831 279,732
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Total Current Assets 7,181,761 3,964,120
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PROPERTY, PLANT & EQUIPMENT 1,348,928 1,506,779
PREPAID DEBT ACQUISITION 36,328 66,893
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8,566,017 5,537,792
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LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Current Portion of Long Term Liabilities 2,820,825 345,149
Accounts Payable 2,098,545 917,608
Accrued Payroll and Related Taxes 198,846 263,744
Other Accrued Expenses 332,176 399,336
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Total Current Liabilities 5,450,392 1,925,837
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LONG TERM VENDOR PAYABLE 23,533 57,118
LONG TERM DEBT - TERM 460,000 535,000
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LONG TERM DEBT - TOTAL 483,533 592,118
SHAREHOLDER'S EQUITY
Common stock, par value $.01 per share
Authorized - 50,000,000 shares
Outstanding - 8,301,710 shares (139,978) 71,484
Additional Paid-in Capital 38,573,163 38,533,112
Retained Earnings (35,801,093) (35,584,759)
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Total Shareholders' Equity 2,632,092 3,019,837
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8,566,017 5,537,792
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IEC ELECTRONICS CORP - CONSOLIDATED
STATEMENT OF INCOME
FOR QUARTER END & YTD MAR 31, 2006 AND APR 1, 2005
ACTUAL PRIOR ACTUAL PRIOR
QUARTER QUARTER YTD YTD
MAR 31, 2006 APR 1, 2005 MAR 30, 2006 APR 1, 2005
Sales 5,579,816 4,682,155 9,186,866 10,905,519
Cost of Sales 5,148,696 4,019,121 8,237,202 9,492,717
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Gross Profit 431,120 663,034 949,664 1,412,802
Less: Operating Expenses
Selling & G&A 515,806 587,201 998,245 1,216,141
Restructuring 0 41,442 0 54,735
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Total Operating Expenses 515,806 628,643 998,245 1,270,876
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Operating Profit (84,686) 34,391 (48,581) 141,926
Interest and Financing Expense (86,602) (102,303) (170,653) (199,702)
Profit (Loss) on Sale of Assets 2,910 112,866 2,910 185,166
Other Income (Expense) 0 28,227 0 28,227
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Net Income before Income Taxes (168,378) 73,181 (216,324) 155,617
Provision for Income Tax 0 0 0 0
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Income from Discontinued Operations 0 0 0 0
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Net Income (168,378) 73,181 (216,324) 155,617
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