NEWARK, N.Y -- IEC Electronics Corp. reported fourth-quarter net income of $52,000 on revenue of $4.1 million.

For the year ended Sept. 30, IEC's net income was $285,000 on revenue of $19.1 million. This compares to a net loss of $828,000 on revenue of $27.7 million for fiscal 2004.

For the fourth quarter last year, the EMS provider reported net income of $62,000 on revenue of $7.7 million

Chairman and CEO W. Barry Gilbert said, "We are adding new customers at the best rate in probably five years. The prospect list is large and growing. The previous account concentration and the risk associated with two accounts representing 90% of our revenue has been significantly reduced, and now, no one account represents more than 20% of our revenue."

Gilbert forecast improved sales in 2006. He also said the company reduced its long-term debt to below $1 million.