NEWARK, NY--(Marketwired - July 06, 2016) - IEC Electronics Corp. (NYSE MKT: IEC) today announced that it has received a $3.7 million contract from a strategic aerospace & defense customer with revenues in excess of $700 million. IEC Electronics will manufacture guided missile firing system components that are utilized by a top US Government prime contractor. The one-year contract value represents a greater than 50% increase in size over the Company's 2015 contract award with this customer.
Jeffrey T. Schlarbaum, President & CEO of IEC Electronics commented, "IEC has partnered with this customer for two years, and we are pleased to have the opportunity to grow our involvement. Reinvigorating our existing customer relationships has been a key initiative this past year and this contract illustrates the results of our focused efforts. This program, which will be fulfilled at our Albuquerque facility, leverages IEC's vertically integrated manufacturing services including our advanced test engineering and specialized processes for mission critical applications."
About IEC Electronics
IEC Electronics is a provider of electronic manufacturing services ("EMS") to advanced technology companies that produce life-saving and mission critical products for the medical, industrial, aerospace and defense sectors. The Company specializes in delivering technical solutions for the custom manufacture of complex full system assemblies by providing on-site analytical testing laboratories, custom design and test engineering services combined with a broad array of manufacturing services encompassing electronics, interconnect solutions, and precision metalworking. As a full service EMS provider, IEC holds all appropriate certifications for the market sectors it supports including ISO 9001:2008, AS9100C, ISO 13485, Nadcap and IPC QML. IEC Electronics is headquartered in Newark, NY and also has operations in Rochester, NY and Albuquerque, NM. Additional information about IEC can be found on its web site at www.iec-electronics.com.
Note Regarding Forward-Looking Statements
References in this report to "IEC", the "Company", "we", "our", or "us" mean IEC Electronics Corp. and its subsidiaries except where the context otherwise requires. This release contains forward- looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements regarding future sales and operating results, future prospects, the capabilities and capacities of business operations, any financial or other guidance and all statements that are not based on historical fact, but rather reflect our current expectations concerning future results and events. The ultimate correctness of these forward-looking statements is dependent upon a number of known and unknown risks and events and is subject to various uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
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