NEWARK, NY -- IEC Electronics reported a net first-quarter loss of $576,000 , down from a loss of $48,000 last year.
The EMS provider's revenue increased 150% year-over-year to $9.2 million, for the quarter ended Dec. 29.
The results include a $389,000 writeoff due to the Jan. 24 announcement by customer Mangrove Systems that it would cease operations. IEC said Mangrove would not impact  revenue growth expectations for the year, but would impact earnings expectations.

In a statement, chairman and CEO W. Barry Gilbert said, "We expect further growth during the balance of this fiscal year ... We still expect to substantially improve our earnings over the previous year."

The company won two customers during the quarter, and tripled its manufacturing workforce, adding more than 100 employees.

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