IEH Corporation Releases Fiscal Third Quarter Results

February 5, 2012

IEH Corporation (OTCQB: IEHC.OB) reported revenue for its fiscal third quarter ended December 23, 2011 fell 14.6% to $3.05 million compared to $3.57 million during the third quarter of prior year.  Revenue for the first nine months of the fiscal year slipped 3.6% to $9.87 million versus $10.24 million during the same period in the prior fiscal year.  Revenue was negatively impacted by an overall decline in military and commercial spending.

Net income for the third quarter was down 29.3% to $281 thousand or $0.12 per share compared to net income of $398 thousand or $0.17 per share during the third quarter in prior fiscal year.  Net income for the first nine months of the fiscal year declined 11.6% to $886 thousand or $0.38 per share versus net income of $1 million or $0.44 per share during the same period in the prior fiscal year.  Net income was impacted by a decline in sales of its products in the commercial aerospace and medical device sectors as well as increased expenses related to efforts in procuring new business.

As of December 23, 2011, the balance sheet reflected current assets of $6.89 million, total assets of $8.24 million, current liabilities of $680 thousand and total liabilities of $757 thousand.  Since March 25, 2011, shareholders’ equity has increased 13.4% to $7.48 million.

IEH Corporation is engaged in the manufacturing and marketing of printed circuit board connectors, signal and power contacts and custom interconnects.  The company’s connectors and contacts employ Hyperboloid contact technology, an advanced, proven interface designed specifically for the most stringent requirements and harshest environments.

Source: IEH Corporation


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