IEC Announces Strong Second Quarter for Fiscal 2010
Tuesday, Apr 20, 2010
IEC Electronics Corp. /quotes/comstock/14*!iec/quotes/nls/iec (IEC 5.43, +0.29, +5.64%) announced its results for the second quarter of fiscal 2010 ending March 26, 2010.For the quarter ended March 26, 2010 the Company reported revenue of $25,232,000 for the quarter, operating income of $1,983,000 and net income of $1,036,000 or $0.11 per share. This compares to revenue of $16,335,000, operating income of $1,143,000 and net income of $2,619,000 or $0.29 per share for the quarter ended March 27, 2009. In the second quarter of fiscal 2009, operating performance was favorably impacted by a deferred tax credit of $1,500,000. On a pro forma basis, without the tax credits, our net income for the second quarter of fiscal 2009 would have been $727,000, or $0.08 per share.
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