Exhibit 99.2
IEC ELECTRONICS CORP - CONSOLIDATED
BALANCE SHEET
JUNE 30, 2006 AND SEP 30, 2005
June 30, 2006 SEP 30, 2005
ASSETS
CURRENT ASSETS
Cash 0 460,586
Accounts Receivable 3,113,471 2,343,994
Inventories 2,721,293 629,808
Deferred Income Taxes 250,000 250,000
Other Current Assets 123,834 279,732
----------- -----------
Total Current Assets 6,208,698 3,964,120
----------- -----------
PROPERTY, PLANT & EQUIPMENT 1,268,237 1,506,779
PREPAID DEBT ACQUISITION 32,108 66,893
----------- -----------
7,509,043 5,537,792
=========== ===========
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Current Portion of Long Term Liabilities 1,893,286 345,149
Accounts Payable 1,879,042 917,608
Accrued Payroll and Related Taxes 182,199 263,744
Other Accrued Expenses 375,270 399,336
----------- -----------
Total Current Liabilities 4,329,797 1,925,837
----------- -----------
LONG TERM VENDOR PAYABLE 16,465 57,118
LONG TERM DEBT - TERM 422,500 535,000
----------- -----------
LONG TERM DEBT - TOTAL 438,965 592,118
SHAREHOLDER'S EQUITY
Common stock, par value $.01 per share
Authorized - 50,000,000 shares
Outstanding - 8,397,209 shares (139,261) 71,484
Additional Paid-in Capital 38,601,530 38,533,112
Retained Earnings (35,721,988) (35,584,759)
----------- -----------
Total Shareholders' Equity 2,740,281 3,019,837
----------- -----------
7,509,043 5,537,792
=========== ===========
IEC ELECTRONICS CORP - CONSOLIDATED
STATEMENT OF INCOME
FOR QUARTER END & YTD JUNE 30, 2006 AND APR 1, 2005
ACTUAL PRIOR ACTUAL PRIOR
QUARTER QUARTER YTD YTD
JUN 30, 2006 JUL 1, 2005 JUN 30, 2006 JUL 1, 2005
Sales 5,378,752 4,040,346 14,565,618 14,945,865
Cost of Sales 4,623,240 3,336,106 12,860,441 12,828,823
----------- ----------- ----------- -----------
Gross Profit 755,512 704,240 1,705,177 2,117,042
Less: Operating Expenses
Selling & G&A 556,975 492,633 1,555,220 1,708,774
Restructuring 0 64,920 0 119,654
----------- ----------- ----------- -----------
Total Operating Expenses 556,975 557,553 1,555,220 1,828,428
----------- ----------- ----------- -----------
Operating Profit 198,537 146,687 149,957 288,614
Interest and Financing Expense (106,056) (78,752) (276,930) (278,454)
Profit (Loss) on Sale of Assets (13,377) 9,998 (10,467) 195,165
Other Income (Expense) 0 328 221 28,555
----------- ----------- ----------- -----------
Net Income before Income Taxes 79,104 78,261 (137,219) 233,880
Provision for Income Tax 0 0 0 0
----------- ----------- ----------- -----------
Income from Discontinued Operations 0 0 0 0
----------- ----------- ----------- -----------
Net Income 79,104 78,261 (137,219) 233,880
=========== =========== =========== ===========