NEWARK, NY, Jan. 24 -- IEC Electronics Corp. today reported its first-quarter net income of $82,000 on sales of $6.2 million for the quarter ended Dec. 31. The company is trying to come back after losing a key account -- Motorola -- last year.

The EMS maker reported a net income of $132,000 on revenue of $6.5 million a year ago.

In a press release, Barry Gilbert, chairman and CEO, said, "Although our profit was modest, we have made substantial progress in rebuilding the Company. Last year we were trying to deal with the loss of Motorola. We needed to reduce our costs and refocus our sales activities, and will continue to do so as required. Some of the programs we have put into place are starting to take hold."

IEC began a lean-manufacturing program late last year and expects gross margins to  improve as revenue increases.

Also, Donald Doody has joined the company as vice president of operations. He was formerly with Plexus Corp.

• Prev
• Next