Losses Continue on Q1 Charges at IEC PDF Print E-mail
Written by Mike Buetow   
Thursday, 06 February 2014 09:51

NEWARK, NY -- IEC Electronics reported a fiscal first-quarter net loss of $1.1 million, down from a loss of $101,000 a year ago.

For the period ended Dec. 27, the EMS company reported revenue of $32.1 million, down 2.7% from the previous year. The current results included restatement and related expenses of $1.2 million.

In a press release, chairman and CEO Barry Gilbert said, "Our revenues were down slightly. One of our medical customers is on FDA hold and some of our industrial customers are predicting sales will be flat or possibly down this year as compared to last year. These shifts create mix changes."

Despite ongoing problems at its Southern California Braiding unit, IEC remains bullish on the defense end-market. "Our operations in the western half of the United States, which primarily support our military and aerospace customers, were down slightly as compared to the first quarter of the previous year," Gilbert said. "Even though we have important long-term agreements in place, we do not have release dates for some of this work. Importantly, these programs appear to be relatively insensitive to Congressional budget and debt reduction issues and we continue to see healthy long-term demand from our military and aerospace customers."

 

Columns

Eastern-US: China’s New Competitor?

Parity emerges among EMS Factories from Asia, Mexico and the US.

For the first time in years we see parity in the Eastern US among EMS factories from Asia, Mexico and the US. This EMS market condition will permit American OEMs (the EMS industry refers to OEMs as customers) to have more EMS pathways to choose from. Now more than ever, such EMS assignments will require deeper investigation relating to the OEMs’ evaluation of manufacturing strategies.

Read more...
 
The Human Touch

For those who count on the electronics industry for big feats, it’s been a remarkable couple of years.

Read more...
 

Features

Advances in Concentration Monitoring and Closed-Loop Control

Contaminated bath water skews refractive index results. New technology can accurately measure aqueous cleaning agent concentration.

Read more...
 
Circuits Disassembly: Materials Characterization and Failure Analysis

A systematic approach to nonconventional methods of encapsulant removal.

Read more...
 

Search

Search

Login

CB Login

Language

Language

English French German Italian Portuguese Russian Spanish
 

Products

Techspray Introduces Fine-L-Kote High Viscosity AR Conformal Coating
Fine-L-Kote high viscosity AR acrylic conformal coating reportedly widens the process window and flexibility. Can use as-is for dipping or thin down for spray systems. Is for selective spray systems...