IEH Corporation Files Form 10-Q For Fiscal Quarter Ended September 30, 2024

BROOKLYN, NY / ACCESSWIRE / November 8, 2024 / IEH Corporation (OTC PINK:IEHC) today filed with the Securities and Exchange Commission its quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2024.

For the quarter ended September 30, 2024, IEH had revenues of $7,341,124 as compared to $4,810,988 for the quarter ended September 30, 2023, reflecting a 53% increase; an operating profit of $173,196 for 2^nd quarter fiscal year 2025 as compared to an operating loss of $1,120,435 for 2^nd quarter fiscal year 2024; a net profit of $246,443 for 2^nd quarter fiscal year 2025 as compared to a net loss of $1,100,603 for 2^nd quarter fiscal year 2024; and a basic earnings per share of $.10 for 2^nd quarter fiscal year 2025 as compared to a basic loss per share of $.46 for 2^nd quarter fiscal year 2024.

Dave Offerman, President and CEO of IEH Corporation commented, "IEH's notable improvements in our top and bottom lines continue apace. Similar to the first quarter of fiscal year 2025, IEH has experienced significant growth in this quarter compared to the same quarter of last year. Revenue, gross margins and operating income all increased considerably, our cash has grown 40% since the beginning of this fiscal year, and our selling, general and administrative (SG&A) costs, which ballooned over the prior two fiscal years, has fallen 50% as a percentage of revenue, compared to the same quarter of last fiscal year. While our revenue and net income still do not approach our pre-COVID highs, it is nonetheless noteworthy when considering the difficulties of the last few years and the continued industry challenges. Growth may still be uneven from one quarter to the next while the commercial aircraft industry continues to produce below their target levels, but our long-term forecasts for that sector, along with strong growth projections in defense, commercial space launch and other markets we serve, bode well for IEH in the years ahead.

On behalf of the management team and staff of IEH, we again wish to express our sincere gratitude for the support of our valued shareholders. We look forward to sharing more positive news in the coming months and quarters."

About IEH Corporation

For over 80 years and 4 generations of family-run management, IEH Corporation has designed, developed, and manufactured printed circuit board (PCB) connectors, custom interconnects and contacts for high performance applications. With its signature Hyperboloid technology, IEH supplies the most durable, reliable connectors for the most demanding environments. The company markets primarily to companies in defense, aerospace, medical, space and industrial applications, in the United States, Canada, Europe, Southeast and Central Asia and the Mideast. The company was founded in 1941 and is headquartered in Brooklyn, New York.