NEWARK, NY – Higher revenues helped lower the net loss at IEC Electronics, which reported second-quarter fiscal 2014 revenue of $34.8 million, up 3.3% year-over-year. The EMS firm posted a net loss of $569,000 for the period ended Mar. 28, compared to a net loss of $1.1 million in the same quarter last year.
The company said defense, its key end-market, was stable during the period.

For the first six months of the fiscal year, IEC reported revenue of $66.9 million, up 0.3% year-over-year. The net loss was $1.7 million, compared to a net loss of $1.2 million for the first six months of fiscal 2013.

“As previously discussed, one of our medical customers is on FDA hold. We expect the hold to be lifted by the beginning of our fiscal fourth quarter with shipments to this customer returning to previous levels over time,” said W. Barry Gilbert, chairman and CEO. “Our Aerospace and Defense business, approximately half of our revenue, remains steady. “

• Prev
• Next