NEWARK, NY -- IEC Electronics reported fiscal 2020 second quarter revenues of $44.2 million, up 18.4% from a year ago.

Gross profit for the period ended Mar. 27 was $5.5 million, or 12.5% of sales, compared to $4.6 million, or 12.3% of sales, last year. Selling and administrative expenses were $3.2 million. Operating income rose 81.7% to $2.3 million, and more than doubled to $1.5 million.

“Our second quarter results continued the momentum built over the past few quarters," said Jeffrey T. Schlarbaum, president and CEO, IEC Electronics. "We reported solid revenue growth of 18% compared to last fiscal year’s second quarter and significantly improved profitability. Our book-to-bill ratio was strong at 1.5:1 and notably, we are generating bookings from an increasingly expanded and diverse base of customers.

“As our country continues to adapt to the health, safety and economic implications of the Covid-19 pandemic, as an essential employer, we have undertaken definitive precautions to ensure the health and safety of our employees while balancing the important role we serve fulfilling critical demands for the customers we serve. We have deliberately maintained a 100% US manufacturing footprint, which we believe makes us an increasingly attractive supply option for existing and potential customers given current and anticipated future trade complications associated with the pandemic.”

“We continue to strengthen our capabilities to meet the highly complex manufacturing requirements of our customers and our new business pipeline is strong," he said. "We remain on track to open our state-of-the-art facility this summer and believe we are well positioned to increase our market share to drive sustained organic revenue growth and profitability as we move through the back half of fiscal 2020.”

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