IEC Announces Acceptance of Its Plan of Compliance by NYSE MKT

IEC Announces Acceptance of Its Plan of Compliance by NYSE MKT 
NEWARK, NY -- (Marketwired) -- 06/17/13 --  IEC Electronics Corp.
(NYSE MKT: IEC) announced today that the NYSE MKT notified the
Company that it accepted the Company's plan to regain compliance with
the continued listing requirements of the Exchange.  
On May 20, 2013, the Company received notice from the NYSE MKT Staff
indicating that the Company does not satisfy the Exchange's continued
listing requirements due to its failure to timely file its Quarterly
Report on Form 10-Q for the quarter ended March 29, 2013, as set
forth in Section 1003(d) of the NYSE MKT Company Guide. The Company
submitted a plan of compliance to the Exchange on May 31, 2013. On
June 13, 2013 the Exchange notified the Company that it accepted the
Company's plan of compliance and granted the Company an extension
until August 15, 2013 to regain compliance with the continued listing
standards. The Company will be subject to periodic review by Exchange
Staff during the extension period. Failure to make progress
consistent with the plan or to regain compliance with the continued
listing standards by the end of the extension period could result in
the Company being delisted from the NYSE MKT LLC.  
About IEC Electronics
 IEC Electronics Corporation is a premier
provider of electronic manufacturing services ("EMS") to advanced
technology companies primarily in the military and aerospace,
medical, industrial and communications sectors. The Company
specializes in the custom manufacture of high reliability, complex
circuit cards, system level assemblies, a wide array of custom cable
and wire harness assemblies, precision sheet metal products, and
advanced research and testing services. As a full service EMS
provider, IEC is a world-class ISO 9001:2008, AS9100 and ISO13485
certified company. The AS9100 certification enables IEC to serve the
military and commercial aerospace markets. The ISO13485 certification
supports the quality requirements of medical device markets. The
Company is also AC7120 Nadcap accredited for electronics
manufacturing to support the most stringent quality requirements of
the aerospace industry, as well as ITAR registered and NSA approved
under the COMSEC standard. Dynamic Research and Testing Laboratories
(DRTL), the Company's newest business unit, is an ISO 17025
accredited laboratory specializing in the testing and detection of
counterfeit electronic parts, as well as component risk mitigation
and advanced failure analysis. IEC Electronics is headquartered in
Newark, NY (outside of Rochester) and also has operations in
Rochester, NY, Albuquerque, NM and Bell Gardens, CA. Additional
information about IEC can be found on its web site at
www.iec-electronics.com.  
This release contains certain statements that are, or may be deemed
to be, forward-looking statements within the meaning of section 27A
of the Securities Act of 1933 and section 21E of the Securities
Exchange Act of 1934, and are made in reliance upon the protections
provided by such Acts for forward-looking statements. These
forward-looking statements (such as when we describe what we
"intend," "expect," "anticipate" or "estimate" will occur, and other
similar statements) include, but are not limited to, 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 different from any future
results, performance or achievements expressed or implied by these
statements. Specific risks and uncertainties include, but are not
limited to, those set forth in the "Risk Factors" section of the
Company's latest Annual Report on Form 10-K and subsequent Quarterly
Reports on Form 10-Q. Additional risks and uncertainties resulting
from the existence, timing and outcome of the Company's restatement
(including further review of the facts and circumstances giving rise
to it) could, among others, (i) result in additional changes to the
financial information previously provided by the Company or included
herein, (ii) result in delisting of the Company's stock from NYSE
MKT, (iii) cause the Company to incur substantial additional legal,
accounting and other expenses, (iv) cause the Company's independent
registered public accounting firm to withdraw their opinion regarding
the financial statements for the restated periods, (v) cause a
default under the Company's credit arrangements with M&T Bank with
respect to which, if the bank chooses to exercise its remedies, the
Company may not be able to obtain replacement financing or continue
its operations, (vi) result in shareholder, governmental or other
actions, (vii) cause the Company's customers, including the
government contractors with which it deals, to lose confidence in the
Company or cause a default under the Company's contractual
arrangements or (viii) affect the ability of the Company to remediate
the existing material weakness in the Company's internal controls
over financial reporting or lead to the identification of new or
additional deficiencies or material weaknesses. Any one or more of
such risks and uncertainties could have a material adverse effect on
the Company or the value of its common stock. 
We undertake no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events, or
otherwise. 
Contact:
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)
(203) 972-9200
jnesbett@institutionalms.com 
 
 
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