IEC to File Restated Financial Statements Today NEWARK, NY -- (Marketwired) -- 07/03/13 -- IEC Electronics Corp. (NYSE MKT: IEC) announced that it is filing today with the Securities and Exchange Commission an amended annual report on Form 10-K/A including its restated financial statements for the fiscal year ended September 30, 2012 and an amended quarterly report on Form 10-Q/A with restated financial statements for the quarter ended December 28, 2012. The Company also is filing its 10-Q for the period ended March 29, 2013. Today's filings meet the time frame IEC outlined in its May 20, 2013 press release. W. Barry Gilbert, Chairman of the Board and CEO, stated, "We expect to announce our results for the third fiscal quarter of 2013 on or before August 10, 2013 and to resume our quarterly investor calls at that time." 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 it s 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/A and subsequent Quarterly Reports on Forms 10-Q/A and 10-Q. Additional risks and uncertainties resulting from the Company's restatement of its financial statements described in the Company's latest Annual Report on Form 10-K/A could, among others, (i) cause us to incur substantial additional legal, accounting and other expenses, (ii) result in additional shareholder, governmental or other actions, (iii) cause our customers, including the government contractors with which we deal, to lose confidence in us or cause a default under our contractual arrangements, (iv) cause a default under the Company's 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, (v) result in delisting of the Company's stock from NYSE MKT (the "Exchange") if the Exchange does not concur that the Company has regained compliance with the Exchange listing standards and the Company's listing agreement, or (vi) result in additional failures of the Company's internal controls if the Company's remediation efforts are not effective. 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 firstname.lastname@example.org
IEC to File Restated Financial Statements Today
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