IEC Electronics Corp (IECE.OB) Announces Strong First Quarter Results for Fiscal 2008
IEC Electronics Corp (IECE.OB) announced their results for the first quarter of fiscal 2008, ending December 28, 2007. IEC reported revenue of $11.2 million for the quarter and net profit of $420,000 or $0.05 per share. This compares to revenue of $9.2 million and net loss of ($576,000) or ($0.07) per share for the quarter ended December 29, 2006. Furthermore, during Q1 of fiscal 2007, the first quarter results were negatively impacted by a $389,000 write-off attributable to the insolvency of Mangrove Systems Inc., which was subsequently acquired by Carrier Access Corporation (CACS) during Q2 of fiscal 2007. Pro forma…