IEC Electronics (IEC) Tops Q1 EPS, Revenue Expectations
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IEC Announces Fiscal First Quarter Revenue Growth and Improved Profitability
February 12, 2016 8:15 AM ESTNEWARK, NY -- (Marketwired) -- 02/12/16 -- IEC Electronics Corp, (NYSE MKT: IEC) today announced results for the fiscal first quarter ended January 1, 2016.
For the first quarter of fiscal 2016, the Company recorded net sales of $32.9 million, an increase of 14.2% compared to net sales of $28.8 million during the first quarter of the last fiscal year. Gross profit margin for the first quarter grew to 17.7% compared to 12.0% in the same quarter last year. The improved gross profit was related to higher production volume, changes in customer mix and improved labor efficiencies. Selling and administrative expenses, excluding restatement... More
