IEC Electronics Corp. reported year-over-year increases in second-quarter profit and sales, due largely to a shift to higher margin products combined with operational improvements.
The Newark, Wayne County firm posted net income of $2.6 million, or 26 cents a diluted share, on sales of $38 million. That compares with net income of $1.7 million, or 17 cents a diluted share, on sales of $35 million, for the same period last year.
"This was an excellent quarter with meaningful improvements across all of our important financial metrics,” said Barry Gilbert, IEC’s chairman and CEO, in a statement. “These results are some of the best in the company's history, and particularly strong for our industry.”
IEC ranked 14th on the most recent Rochester Business Journal list of manufacturers with 542 workers.
(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
eMail
View All Comments
Print
Reprints
