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Newark —
IEC Electronics Corp. has released its first-quarter results.
The company has recorded revenue of $33.8 million, operating income of $954,000 and net income of $948,000. Revenue from the first quarter of the previous year was $28.9 million.
"While revenues were up for the entire company, earnings were down significantly from the prior quarter. Key sections of the company continue to perform quite well. We continue to increase our revenue, and our organic growth was in line with our estimates at just over 12 percent," CEO W. Barry Gilbert said in a press release.
IEC recently acquired Southern California Braiding, which had a difficult year when previously approved defense contracts were delayed. The company is confident that SCB will begin earning more in the second part of the year.
IEC uses earnings before interest, taxes, depreciation and amortization (EBITDA) to measure performance. The company's first-quarter EBITDA was $2.8 million, compared to the previous year's $2.4 million.
In addition to the results of the first quarter, IEC announced that it received an order for more than $17 million from one of its medical customers. Deliveries will begin to be sent out during the third quarter of the fiscal year.
In the release, Gilbert said, "This is the largest single order that IEC has received in recent years, and we are excited to continue our support of this customer and its growing commercial needs."
For more information about IEC, visit www.iec-electronics.com.
The company has recorded revenue of $33.8 million, operating income of $954,000 and net income of $948,000. Revenue from the first quarter of the previous year was $28.9 million.
"While revenues were up for the entire company, earnings were down significantly from the prior quarter. Key sections of the company continue to perform quite well. We continue to increase our revenue, and our organic growth was in line with our estimates at just over 12 percent," CEO W. Barry Gilbert said in a press release.
IEC recently acquired Southern California Braiding, which had a difficult year when previously approved defense contracts were delayed. The company is confident that SCB will begin earning more in the second part of the year.
IEC uses earnings before interest, taxes, depreciation and amortization (EBITDA) to measure performance. The company's first-quarter EBITDA was $2.8 million, compared to the previous year's $2.4 million.
In addition to the results of the first quarter, IEC announced that it received an order for more than $17 million from one of its medical customers. Deliveries will begin to be sent out during the third quarter of the fiscal year.
In the release, Gilbert said, "This is the largest single order that IEC has received in recent years, and we are excited to continue our support of this customer and its growing commercial needs."
For more information about IEC, visit www.iec-electronics.com.
IEC Electronics Corp. has released its first-quarter results.
The company has recorded revenue of $33.8 million, operating income of $954,000 and net income of $948,000. Revenue from the first quarter of the previous year was $28.9 million.
"While revenues were up for the entire company, earnings were down significantly from the prior quarter. Key sections of the company continue to perform quite well. We continue to increase our revenue, and our organic growth was in line with our estimates at just over 12 percent," CEO W. Barry Gilbert said in a press release.
IEC recently acquired Southern California Braiding, which had a difficult year when previously approved defense contracts were delayed. The company is confident that SCB will begin earning more in the second part of the year.
IEC uses earnings before interest, taxes, depreciation and amortization (EBITDA) to measure performance. The company's first-quarter EBITDA was $2.8 million, compared to the previous year's $2.4 million.
In addition to the results of the first quarter, IEC announced that it received an order for more than $17 million from one of its medical customers. Deliveries will begin to be sent out during the third quarter of the fiscal year.
In the release, Gilbert said, "This is the largest single order that IEC has received in recent years, and we are excited to continue our support of this customer and its growing commercial needs."
For more information about IEC, visit www.iec-electronics.com.
The company has recorded revenue of $33.8 million, operating income of $954,000 and net income of $948,000. Revenue from the first quarter of the previous year was $28.9 million.
"While revenues were up for the entire company, earnings were down significantly from the prior quarter. Key sections of the company continue to perform quite well. We continue to increase our revenue, and our organic growth was in line with our estimates at just over 12 percent," CEO W. Barry Gilbert said in a press release.
IEC recently acquired Southern California Braiding, which had a difficult year when previously approved defense contracts were delayed. The company is confident that SCB will begin earning more in the second part of the year.
IEC uses earnings before interest, taxes, depreciation and amortization (EBITDA) to measure performance. The company's first-quarter EBITDA was $2.8 million, compared to the previous year's $2.4 million.
In addition to the results of the first quarter, IEC announced that it received an order for more than $17 million from one of its medical customers. Deliveries will begin to be sent out during the third quarter of the fiscal year.
In the release, Gilbert said, "This is the largest single order that IEC has received in recent years, and we are excited to continue our support of this customer and its growing commercial needs."
For more information about IEC, visit www.iec-electronics.com.
