NEWARK, NY -- IEC Electronics reported fiscal third-quarter revenue rose 50.9% to $26.1 million on acquisitions and strong organic sales.

For the period ended June 25, the contract electronics manufacturer reported operating profits of $2.3 million, up 77%, and and net income of $1.2 million, up 22.9% year-over-year.

Operating profit topped 8.5% of sales. Earnings before interest, taxes, depreciation and amortization (EBITDA) were $2.6 million, up from $1.6 million last year.

For the nine months ended June 25, IEC had net income of $3 million on revenue of $69.4 million, up from $4 million and $49.5 million, respectively in fiscal 2009. The latter's net income included a net tax credit of $1.5 million during the second quarter.

Chairman and CEO W. Barry Gilbert said, "This was an especially good quarter. Sales growth of more than 50% and operating profit growth of more than 70% as compared to the third quarter of fiscal 2009 were especially gratifying." He said the EMS firm expects to meet its forecasted full-year 2010 revenue of $96 million.

The company, which acquired GTC last year, said organic sales growth from its contract manufacturing and wire and cable units was over 15% compared to fiscal 2009.

Military/aerospace made up 59% of sales for the first nine months, up from 55%. Medical/other sector increased to 13% of sales from 8%. Industrial slipped to 20% of sales, from 24%.

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