DALLAS, Aug. 14, 2009 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring IEC Electronics Corp. (IEC). The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision.
The investment report on IEC Electronics Corp. (AMEX:IEC) should be of particular interest to technology companies: TTM Technologies (Nasdaq:TTMI), Plexus Corp. (Nasdaq:PLXS), Benchmark Electronics Inc. (NYSE:BHE) and Jabil Circuit Inc. (NYSE:JBL).
It is available at: http://www.stockpreacher.com/n/IEC/
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IEC Electronics Corp. (IEC) is a provider of electronic manufacturing services (EMS) to technology companies in the United States. The Company specializes in the custom manufacture of circuit cards, system level assemblies, and an array of custom cable/wire harness assemblies. The Company manufactures a range of assemblies, which are incorporated into many different products. It also provides EMS, primarily for wireless communication systems, test diagnostic equipment, military and defense systems, transportation products and medical instrumentation.
In the report, the analyst notes:
"IEC had three successive strong quarters in FY 2009. The Company reported revenue of $17.3 million for the third quarter ended June 26, 2009, as compared to revenue of $11.9 million for the third quarter 2009. Sales from "Wire and Cable" were accretive for the third quarter 2009, and IEC's core business grew by more than 33% over the same quarter of the prior year. The gross profit margin increased to 16.1% from third quarter 2008 gross profit margin of 11.9%. For the third quarter ended June 26, 2009, net income was $903,000 or $0.10 per share compared to $868,000 or $0.09 per share for the same period in 2008.
"The Company's management remains optimistic about the IEC's prospects for the remainder of fiscal 2009 and 2010. Sales growth is expected to range between 25%-30% ($64 million to $67 million) for fiscal 2009. The Company expects its gross profit margin as a percent of sales to normalize in a slightly higher range of between 15% and 16%; net income before tax is expected to increase by 150+%."
To read the entire report visit: http://www.stockpreacher.com/n/IEC/
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