IEH Corp. (IEHC) research, news, and more from GeoInvesting

Company description

Mon, 15 Mar 2010 04:00:00 GMT

The Company is engaged in the design, development, manufacture and distribution of high performance electronic printed circuit connectors and specialized interconnection devices. Electronic connectors and interconnection devices are used in providing electrical connections between electronic component assemblies. The Company develops and manufactures connectors, which are designed for a variety of high technology and high performance applications, and are primarily utilized by those users who require highly efficient and dense (the space between connection pins with the connector) electrical connections.

Research

Thu, 05 Mar 2026 17:55:09 GMT

Ieh Corp. (OTC:IEHC) ($17.00; $41.3M market cap) announced its order backlog reached an all-time high, driven by increased demand for defense systems using its Hyperboloid connectors:

Management Commentary:

"Due to the overwhelming demand for the various defense systems that utilize our Hyperboloid connectors, contacts and interconnect assemblies, our backlog is now the highest it's ever been. It has more than doubled in the last 12 months and has increased nearly 30% in just the first two months of 2026. This backlog will translate into revenue over the next 12-18 months.

Defense programs like PATRIOT, AMRAAM, THAAD, APKWS and MARK-48 all employ our interconnect solutions in their missiles, radars, and precision-guided munitions, and rely on IEH to supply the connectors that enable these critical programs. As these systems are deployed in greater volume and frequency, and the US prioritizes equipment replenishment in support of our warfighting capabilities, we expect demand to continue. As we have throughout our long history, IEH stands ready to support our nation's defense and that of our valued allies.”

Our Quick Take:

The strong backlog reaffirms the company’s bullish outlook from the Starting Five Defense Conference in October. You can see the presentation here.

IEH Corporation designs and manufactures high-performance printed circuit board connectors and custom interconnects for defense, aerospace, medical, industrial, and other advanced technology applications.

Research

Tue, 11 Nov 2025 22:06:34 GMT

IEH Corporation (OTC:IEHC) ($8.50; $20.7M market cap) announced Q2 2026 results:

Q2 sales of $7.1 million vs. $7.3 million in the prior year
Q2 2026 loss per share: ($0.01) vs. EPS of $0.10 in the prior year
Over $7 million in orders supporting missile defense programs booked in Q2
Backlog at highest level since December 2020
Company is actively pursuing acquisition opportunities to diversify products and markets
Noted margin pressure from gold and tariff cost increases
Mentioned growth in commercial aerospace (notably Boeing 737Max) and commercial space sectors

Management Commentary:

“While our losses narrowed compared to the first quarter of this fiscal year, the steep rise in gold, along with tariffs and other rising costs, continue to pressure our margins. While we continue to aggressively and strategically raise prices, we are still playing ‘catch-up’ to these increases.”
– Dave Offerman, President and CEO

“Despite these cost pressures, our outlook for the coming quarters remains very positive. In this quarter alone we booked over $7 million in new orders in support of missile defense and other military programs. This has led to our highest backlog since December 2020. With global defense spending continuing to trend upwards, Federal initiatives to rebuild our stockpiles, and a strong sales pipeline, we expect this growth to continue. It is also worth noting that much of this business is sole-source and thus highly profitable, which should go a long way toward improving our margins. At the same time, we are starting to see more business for the commercial aerospace platforms we support, in particular the Boeing 737Max, and with recent news that the FAA has allowed Boeing to increase output on that jet, we expect that growth to accelerate in the coming months. We continue to win new designs in commercial space applications, and with an enhanced sales presence overseas, uncover new opportunities in foreign markets.”

“We also continue to actively pursue acquisition opportunities, for the purpose of diversifying both our product offerings, as well as our markets served. I look forward to sharing more details on those efforts as they progress.”

“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.”

IEHC was one of the presenting companies at our Starting Five Defense Virtual conference in October 2025, you can see the presentation here.

Research

Mon, 09 Oct 2023 14:52:08 GMT

Last Friday, Ieh Corp (OTCQB:IEHC) ($7.85; $18.6M market cap), a company that designs, develops, and manufactures printed circuit connectors for high performance applications, filed its SEC filings for fiscal 2023 and is in the process of filing its 10-Q’s for the first half of fiscal 2024 which would make them current with the SEC.

We had a successful run in IEHC from June 2016 to August 2019 where the stock went from $7.20 to highs of $25.00, before we closed out at $18.00. Now, we are revisiting the story if we can capture another period of strong returns.

In early July 2023 we highlighted that IEHC was back on our radar after battling through several years of financial restatement process.

Per IEHC’s,filing, we believe it is worth noting that the company sees substantial improvement for fiscal 2024 and the momentum to carry into fiscal 2025.

“We believe that the first two quarters of the current Fiscal Year ending March 31, 2024 will show substantial improvements over the same quarters of the prior Fiscal Year 2023, previewing the upward trajectory we are currently on, and expect to sustain through the balance of Fiscal Year 2024 and into Fiscal Year 2025, and beyond. With a backlog that is now 28% higher than it was at the beginning of this Fiscal Year, and the highest it's been since the end of 2020, and positive indicators in our legacy markets along with our amplified sales and marketing efforts in developing markets, we are very optimistic that our recovery and growth will continue to accelerate in the coming quarters and years.”

In light of Israel declaring war with Hamas after the events over the weekend, we believe these comments from management are worth mentioning, especially since a decrease in orders from its military customers led to softness staring in 2020.

“...we estimate that defense spending is expected to again rise, as current and potential conflicts and heightened tensions portend new rounds of funding in many of the programs we support.”

While we do not have enough information at this time to calculate a potential EPS estimate based on bullish revenue guidance, there are a few clues that can help us make an educated guess:

It appears that the company has a lot of operating leverage. It has had a steady level of operating expenses around the volatility of its revenue. When revenues are increasing, this could be a very powerful driver to EPS growth. On the flipside, it could also lead to disproportionate levels of decreases in EPS when revenues decline.
The gross margins for the company the 3 years prior to Covid ranged between 30% and 43%.
Gross margins for fiscal 2023 and 2022 were 5% and 21%, respectively, and Q3 and Q4 of fiscal 2023 were 20% and 10%, respectively.

Unfortunately, we do not have enough information to know if gross margins have stabilized. However, if the company can maintain the high point of fiscal 2023 gross margins of 20%, with stable operating expenses, and regain quarterly revenue levels of between $6 to $8 million, reached pre-COVID, it would still only lead to break-even or small losses.

However, if the company can get back to its 30% or higher levels of gross margins achieved in 2019 and 2020, there is the case for annual EPS north of $1.00 (assuming $28 million in annual revenue and 30% gross margins).

We will need to see the first two quarters of fiscal 2024 to learn what “substantial” means to management.

Research

Fri, 07 Jul 2023 12:23:15 GMT

Ieh Corp (OTCQB:IEHC) ($7.40; $17.5M market cap), a company that designs, develops, and manufactures printed circuit connectors for high performance applications, is back on our radar after battling through several years of financial restatement process.

In addition to the auditing issues, the company’s business experienced a slow down due to Covid 19’s impact on air travel.

“As discussed in prior communications, the worldwide grounding of the Max jet in late 2019, followed by the steep decline in air travel in early 2020 due to COVID, was incredibly disruptive to the commercial aerospace supply chain. It created long delays and bottlenecks, and as people began flying again, severe imbalances in supply and demand. It has taken a long time for the airplane manufacturers and their Tier 1 suppliers to work through the inventory that had accumulated pre-COVID, and reach a stage where components like connectors would again be necessary to complete module and subsystem builds. While the recovery will continue to be gradual and measured, this influx of orders signifies that the return to pre-COVID levels of production is approaching, which bodes well for IEH's revenue recovery over the coming quarters."

We had a successful run in IEHC from June 2016 to August 2019 where the stock went from $7.20 to highs of $25.00, before we closed out at $18.00.

We will closely track to see if the company’s business can get back on track to earning levels it once was achieving in 2017 to 2020 of $0.60 to $2.00 in EPS.

Research

Thu, 15 Aug 2019 17:22:27 GMT

**Call To Action - Closed Out Our Long Position In IECH

Ieh Corp (OTCQB:IEHC) ($19.5; $45.3M market cap), a company that designs, develops, and manufactures printed circuit connectors for high performance applications, filed a NT 10-Q for Q2 2019, which we covered in yesterday’s email. Results showed a decrease in both the top and bottom line, due to the completion of a large project that occurred in 2018, not being repeated. Results were also mixed, sequentially from Q1 2019. Q2 Revenues rose 10% from Q1, but EPS declined 40%.

We do realize that we might be jumping the gun by selling our shares. With a trailing PE of 11.0, the stock does not appear to be expensive. Revenues can tend to be lumpy and the company's unique and specialized product line should continue to enable it to gain market share and grow over time. Some may also find it comforting that successful long-term activist shareholder, Zeff Capital, continues to add shares as the stock rises in value.

Having said the above, we had a good run with IEHC, and we see some other promising high conviction opportunities we may want to invest in soon. Furthermore and regrettably, IEHC was a small position. It was a little over 2 years ago when we bought shares based off an NT 10-K filing showing strong Q4 2016 results. Shares were trading at $6.00. We had also been watching the company's progress for a long time and thought it had reached an inflection point in terms of being able to capture more market share with their specialized product line. Since that time, revenue has grown from $16 million to $28 million.

We will not be opposed to re-entering a position in IEHC if we see opportunity after diving a little deeper into future growth drivers.

Research

Wed, 14 Aug 2019 14:46:02 GMT

Ieh Corp (OTCQB:IEHC) ($17.00; $39.4M market cap), a company that designs, develops, and manufactures printed circuit connectors for high performance applications, filed a NT-10Q which shows its expected sales and EPS for Q1 2020:

Sales of $7.5 million vs $9.0 million in the prior year. The decrease in Revenues (Net Sales) for the current three-month period can be attributable to the completion of a large customer contract which was fulfilled by the end of the first fiscal quarter last year, and at this time, the reasonable expectation is that this customer’s business will not be repetitive.
EPS of $0.39 vs $0.98 in the prior year. The decrease in Net Income for the current three-month period can be attributed primarily to the decrease in operating revenues for the current three-month period.

Research

Mon, 01 Jul 2019 14:56:36 GMT

Ieh Corp (OTCQB:IEHC) ($17.00; $39.4M market cap), a company that designs, develops, and manufactures printed circuit connectors for high performance applications, filed an NT-10K extension to file its annual fiscal 2919 results. However, the filing contains some preliminary full year 2019 results:

“...we anticipate that net sales for the period ended March 29, 2019 will be in the range of $28,400,000 to $28,500,000.

...we anticipate that net income for the period ended March 29, 2019 will be approximately $5,349,000 or $2.30 per share on a primary basis.”

Based on the above information, we estimate Q4 2019 results to be:

Sales of $6.8 million vs $7.2 million in the prior year
EPS of $0.64 vs $0.52 in the prior year

Shares of IEHC have been trending up the past year and are trading at recent highs in the upper teens (52 week high of $22.00 was flash print back in September when stock was trading at $13) and continues to see buying from activist investor Zeff Capital. Upon the availability of the related full year 10k and press release, we will assess our long position in the stock, which is up 140% from our initial disclosure in June 2016.

Research

Tue, 28 May 2019 15:03:42 GMT

Ieh Corp (OTCQB:IEHC) ($18.00; $28.5M market cap), designs, develops, and manufactures printed circuit connectors for high performance applications. Zeff Capital continues buying shares on the open market despite the stock hitting new highs (its $22.00 high was a flash print on a huge spread back in September).

Zeff's initial 13G disclosure of his long position in IEHC occurred in July 2014 when stock was trading $5.00. Zeff is one of several activists, fund managers or respected investors that we like to follow that invest in microcaps. Two others include Mario Gabelli (fund) and Peter Kellogg (billionaire investor). These three investors are long several stocks that are included in some of our model portfolios:

Gabelli: EML, FTR, LGL
Kellogg: ESCC
Zeff: IEHC, MKRS

Research

Tue, 12 Feb 2019 19:07:39 GMT

Ieh Corp (OTCQB:IEHC) ($12.30; $28.5M market cap), designs, develops, and manufactures printed circuit connectors for high performance applications announced Q3 2019 results:

Sales of $5.98 million vs $5.23 million in the prior year
EPS of $0.33 vs $0.20 in the prior year

'We're very pleased to see the trajectory of growth we've established over the last several years continue as fiscal 2019 approaches conclusion. The impressive growth in our top line is surpassed only by the substantial gains of our bottom line. This is due in large part to our augmented sales and marketing efforts, streamlining of production processes, and the sustained health and growth of the primary industries we serve, Defense and Commercial Aerospace. Aided by a strong cash position, manageable inventory and a solid backlog, we look forward to a successful fourth quarter of the fiscal year.”

You can see our past coverage on IEHC here.

Research

Wed, 14 Nov 2018 15:27:53 GMT

Ieh Corp (OTCQB:IEHC) ($12.30; $28.5M market cap), designs, develops, and manufactures printed circuit connectors for high performance applications announced Q2 2019 results:

Sales of $6.6 million vs $6.0 million in the prior year
EPS of $0.41 vs $0.24 in the prior year

“We're pleased to see our successes continue as fiscal 2019 progresses. Despite the conclusion of a substantial contract at the end of the first quarter, our growth in revenue and net income continue unabated, due in large part to the increased efforts of our growing sales force, and the health and bright prospects of the primary industries we serve, Defense and Commercial Aerospace. Aided by a strong cash position, manageable inventory and a solid backlog, we look forward to a successful 2nd half of the fiscal year."

You can see our past coverage on IEHC here.

Research

Tue, 14 Aug 2018 14:40:55 GMT

Ieh Corp (OTCQB:IEHC) ($12.05; 27.9M market cap), designs, develops, and manufactures printed circuit connectors for high performance applications announced Q1 2019 results:

Sales of $9.0 million vs $4.9 million in the prior year
EPS of $0.98 vs $0.13 in the prior year

“We're very proud to see our success of the last fiscal year continue into the first quarter of this year, as our top and bottom lines continue to grow. It's worth noting that the results of this quarter, as well as the fourth quarter of last fiscal year, were particularly striking, and due in large part to a substantial contract that has now been completed. So while we anticipate solid results for the rest of this fiscal year, we don't expect this pace to follow the unusually high numbers of the first quarter. Regardless, we maintain a historically high backlog, and with the increase in our production output and the opportunities in our pipeline, we look forward to continued success in the coming months."

Research

Tue, 10 Jul 2018 15:41:11 GMT

Ieh Corp (OTCQB:IEHC) ($10.90; 25.1M market cap), designs, develops, and manufactures printed circuit connectors for high performance applications. The company announced its fiscal year end 2018 results:

Sales of $23.4 million vs $20.1 million in the prior year
EPS of $1.11 vs $0.64 in the prior year
Q4 Sales of $7.2 million vs $5.6 million in the prior year period
Q4 EPS of $0.52 vs $0.12 in the prior year period

Quotes from management:

"We're extremely pleased to have delivered strong 2018 results, characterized by meaningful revenue growth, gross margin improvement and a considerable increase in our Net Income.This continues a trend of year-over-year top and bottom-line growth, all while maintaining inventory levels as a percentage of revenue, and improving our cash on hand.Our sales backlog continues to grow as a direct result of our ability to generate new program activity from existing customers and to attract new customers, both domestically and overseas

Our success can be attributed to our sales team's ability to target the right customers and applications for our high-performance connectors and interconnect solutions.We continue to be challenged by rising labor costs, but our production and engineering staff remain focused on cost efficiencies that will maintain our margins and allow us to continue offering high-performance products at competitive prices for our customers' demanding environments.We are energized by our recent performance and optimistic about fiscal 2019, given the opportunities presented by our robust and growing sales backlog."

The company filed its NT 10-K in late June with its expected sales and EPS numbers. We are still waiting on the 10-K filing to determine if there was a possible year-end tax adjustment made in Q4 that could positively or negatively impact the EPS figure. Based off the information in the press release, it seems like the company may have paid a higher tax rate in the quarter. We will look into a true Non-GAAP number once the 10-K is filed.

With trailing EPS of $1.11, the stock is trading at trailing P/E of 9.8. It is also worth noting that activist investor Zeff Capital holds a 13% stake in the company. Zeff Capital has had stakes in several other names we are tracking and/or have positions in - Tsr (NASDAQ:TSRI) and Mikros Systems (OTCQB:MKRS).

As we stated before, we hold a small long position in IEHC, but the company does have a habit of reporting lumpy quarterly results.

Research

Mon, 12 Feb 2018 16:13:49 GMT

Ieh Corp (OTCQB:IEHC) ($8.35; 19.2M market cap), designs, develops, and manufactures printed circuit connectors for high performance applications. The company filed a 10-Q after hours on Friday and has yet to issue a press release. The company reported Q3 2018 results:

Sales of $5.2 million vs $4.8 million in the prior year
EPS of $0.21 vs $0.14 in the prior year

We maintain a small long position in IEHC as we continue to watch the company's progress to see if they can start reporting consistent growth. They have a habit of reporting lumpy results.

Research

Tue, 23 May 2017 17:29:47 GMT

IEHC ($6.66) announced a special one time cash dividend of $0.25. Quotes from management:

"It is with great pleasure that we announce this one-time special cash dividend to our shareholders. IEH has enjoyed solid results over the past several years and the dedication and hard work of our management, employees and distributor network as well as investments made in our product design and facilities are yielding the results we envisioned. Upon reviewing the Company's balance sheet and cash flow, management and the Board have determined that it is appropriate to return some cash to its shareholders. IEH continues to have more than sufficient liquidity to meet its operating and capital expenses and its business goals."

Comments & Business Outlook

Mon, 06 Feb 2017 05:00:00 GMT

Third Quarter 2017 Results:

Sales of $14.5 million vs $14.9 million in the prior year
EPS of $0.52 vs $0.57 in the prior year

Research

Tue, 15 Nov 2016 18:39:07 GMT

IEHC ($6.10) announced Q2 2017 results:

Sales of $5.2 million vs $5.1 million in the prior year
EPS of $0.23 vs $0.06 in the prior year

Data via 10-Q, no press release issued. Investors should note revenue figures were announced in NT-10-Q on November 8, 2016, but the EPS was not.

Research

Fri, 24 Jun 2016 15:32:31 GMT

Nibbled at Shares Of IEHC If Shares; Files NT-10-K, Presents Information Arbitrage Opportunity Once Again

Yesterday, after the close, IEHC ($6.20) filed a NT 10-K (an extension notice for 10-K filings). Fourth quarter 2016 results were:

Sales of $4.4 million vs $3.9 million
EPS of $0.30 vs $0.18
Full year sales to be $19.1 to $19.5 million vs $16.4 million
Full year EPS of $0.87 vs $0.79

The Company has a history of filing for extensions while disclosing its financial results in its NT 10-K filing. We highlighted a similar opportunity when the company did the same for its Q3 results back in November.

It is worth noting as a caveat, however, that the company does have a history of reporting volatile mixed results.

Research

Tue, 10 Nov 2015 16:17:51 GMT

IEHC ($8.70) Files NT-10-Q, Presents Information Arbitrage Opportunity Once Again

Yesterday, after the close, IEHC filed a NT 10-Q (an extension notice for 10-Q filings). Yesterday’s filing is similar to the one the company filed in first quarter of 2016, when we alerted members that we were adding to our long position based on its statement that the company would report significantly improved results vs. its Q1 2015. The stock was trading at $7.44 at the time of our Q1 2016 alert. For Q2 2016, IEHC expects to report:

Sales of $5.0 to $5.1 million compared with $3.9 million in the prior year period

We note that the company did not provide net income or operating income like it had in its Q1 NT filing. Assuming margins are similar to that of Q1, EPS for Q2 2016 should be roughly $0.30 to $0.32 vs $0.18 in the prior year period. IEHC has history of NT filings. In the past, they have provided net income and/or operating income in all the prior NT filings. We will watch closely for the 10-Q filing to determine if the company was able to maintain margins during the quarter.

We have been tracking and disclosed our long position in IEHC since November 19, 2013 after the company reported strong Q2 financial results when the stock was trading at $4.30. Here is our original research note.

Research

Wed, 12 Aug 2015 16:00:08 GMT

Added to our long position in IEHC

Yesterday, via premium tweet we stated we were adding to our Tier One Pink position of $IEHC ($7.44) based on information in the company’s NT 10-Q filing (extension for quarterly filing). In its NT 10-Q filing, the company provided strong preliminary financial results for Q1 2016. We have been tracking IEHC since November 19, 2013 after the company reported strong Q2 financial results when the stock was trading at $4.30. See our full updated research note here.

Research

Tue, 11 Aug 2015 15:29:13 GMT

This morning we issued the following tweet to GeoInvesting premium members:

Adding to our $IEHC long position on hint of strong Q in NT-10 Q filing (quarterly extension notice). Very thinly traded, so will likely be a small add. #GeoCallToAction

We have been tracking IEHC since November 19, 2013 after the company reported strong Q2 financial results when the stock was trading at $4.30. Here is our original research note. We stated:

“This marks the third consecutive quarter of strong growth after several periods of inconsistent financial results. We will establish a small preliminary position in IEHC as we begin our DD.”

Yesterday after hours the company filed a NT 10-Q filing in which the company provided preliminary Q1 2016 results:

Q1 2016 sales projected to be $5.0 to $5.2 million compared with $3.9 million in the prior year period
Q1 2016 EPS are projected to be $0.30 to $0.33 compared to $0.17 in the prior year

The stock now trades at some meager valuation multiples:

EV/S = 0.92
P/E = 7.88
EV/EBITDA = 4.2

IEHC designs, develops and manufactures printed circuit connectors for high performance applications. The company services are in the Government, Military, Aerospace, Medical, Automotive, Industrial, Test Equipment and Commercial Electronics markets.

Overall, IEHC has experienced impressive growth in sales and EPS since 2004. Below is a snapshot of the financial performance for the last 12 years.

The fiscal Q1 2016 revenue and EPS showing is easily a record for the company and marks its third consecutive quarterly strong financial performance. However, the fact that the company operates in a cyclical industry and that 50% of its revenues are generated from U.S. military contracts can lead to periodic disruptions in quarterly growth comparisons as evidenced by the above table. Still, we think at the juncture, especially after considering IEHC valuation, that we have enough reason to request an interview with management to determine if drivers exist that will lead to continued growth in the near to mid-term.

Comments & Business Outlook

Fri, 15 Aug 2014 04:00:00 GMT

Q1 2015 Results

IEH CORPORATION

STATEMENT OF OPERATIONS

(Unaudited)

For the Three Months Ended June 27, 2014 and June 28, 2013

	Three Months Ended
	June 27,			June 28,
	2014			2013

REVENUE, net sales	$	3,935,647		$	4,090,639

COSTS AND EXPENSES

Cost of products sold		2,500,757			2,488,825
Selling, general and administrative		641,252			636,240
Interest expense		3,514			7,673
Depreciation		82,100			62,800
		3,227,623			3,195,538

OPERATING INCOME		708,024			895,101

OTHER INCOME		167			54,218

INCOME BEFORE INCOME TAXES		708,191			949,319

PROVISION FOR INCOME TAXES		(320,979	)		(425,000	)

NET INCOME	$	387,212		$	524,319

BASIC AND DILUTED EARNINGS PER SHARE (Note 2)	$	.17		$	.23

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (in thousands)		2,303			2,303

Comments & Business Outlook

Fri, 11 Jul 2014 04:00:00 GMT

Form 10-K

IEH CORPORATION

STATEMENTS OF OPERATIONS

For the Years Ended March 28, 2014 and March 29, 2013

	March 28,			March 29,
	2014			2013

REVENUE, net sales (Note 13)	$	15,431,944		$	13,330,097

COSTS AND EXPENSES:
Cost of products sold		9,887,351			9,065,572
Selling, general and administrative		2,702,742			2,220,444
Interest expense		21,349			28,412
Depreciation and amortization		273,899			235,336
		12,885,341			11,549,764

OPERATING INCOME		2,546,603			1,780,333

OTHER INCOME		54,720			561

INCOME BEFORE INCOME TAXES		2,601,323			1,780,894

PROVISION FOR INCOME TAXES		(1,147,616	)		(850,964	)

NET INCOME	$	1,453,707		$	929,930

BASIC AND DILUTED EARNINGS PER COMMON SHARE (Note 1)	$	.63		$	.40

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (IN THOUSANDS)		2,303			2,303

Comments & Business Outlook

Fri, 14 Feb 2014 05:00:00 GMT

IEH CORPORATION

STATEMENT OF OPERATIONS

(Unaudited)

For the Nine and Three Months Ended December 27, 2013 and December 28, 2012

	Nine Months Ended				Three Months Ended
	Dec. 27,		Dec. 28,		Dec. 27,		Dec. 28,
	2013		2012		2013		2012

REVENUE, net sales	$	11,770,051	$	9,967,202	$	3,664,070	$	3,259,646

COSTS AND EXPENSES

Cost of products sold		7,467,662		6,683,959		2,521,753		2,179,415
Selling, general and administrative		1,994,722		1,696,947		718,086		575,289
Interest expense		17,201		19,461		4,500		5,904
Depreciation		187,000		184,500		62,100		59,100
		9,666,585		8,584,867		3,306,439		2,819,708

OPERATING INCOME		2,103,466		1,382,335		357,631		439,938

OTHER INCOME		54,546		393		149		154

INCOME BEFORE INCOME TAXES		2,158,012		1,382,728		357,780		440,092

PROVISION FOR INCOME TAXES		960,898		610,122		167,226		185,000

NET INCOME	$	1,197,114	$	772,606	$	190,554	$	255,092

BASIC AND DILUTED EARNINGS PER SHARE (Note 2)	$	.52	$	.34	$	.08	$	.11

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (in thousands)		2,303		2,303		2,303		2,303

Research

Tue, 19 Nov 2013 05:00:00 GMT

Ieh (OOTC:IEHC) ($4.30) - IEHC is engaged in the design, development, manufacture and distribution of high performance electronic printed circuit connectors and specialized interconnection devices. We will be taking a closer look at IEHC. On 11/19/2013 the company filed its second quarter 2013 10Q:

Sales increased 20% to $8.1 million.
EPS increased 100% to $0.44.

This marks the third consecutive quarter of strong growth after several periods of inconsistent financial results. We will establish a small preliminary position in IEHC as we begin our DD.

Caveat: We have performed very little DD thus far, but the explosion of prices in shares of micro-cap stocks, especially Tier One Pinks, makes this an interesting bet.

Research

Fri, 07 May 2010 04:00:00 GMT

We will start tracking the Ieh Corp story.

Operating revenues for the nine months ended December 25, 2009 amounted to $8,951,957 reflecting a 12.86% increase versus the nine months ended December 26, 2008 revenues of $7,932,098. The sharp increase in revenues can be attributed to a dramatic increase in commercial aerospace spending, new customers in the medical device manufacturing sector as well as internal production efficiencies.
For the third quarter EPS were came in at $0.13 vs. $0.03.

The company has flirted with nice EPS growth periods from time to time and this sector seems to on a strong reboung. We need to witness consistency or receive direction from management in order to gain conviction on this story.

Please note the that the company has very little IR presence.

Comments & Business Outlook

Fri, 07 May 2010 04:00:00 GMT

IEH CORPORATION

STATEMENTS OF OPERATIONS

For the Years Ended March 25, 2011 and March 26, 2010

	March 25,			March 26,
	2011			2010

REVENUE, net sales (Note 13)	$	13,823,640		$	12,141,941

COSTS AND EXPENSES:
Cost of products sold		8,693,472			8,181,564
Selling, general and administrative		1,983,862			1,796,652
Interest expense		43,946			41,510
Depreciation and amortization		161,182			156,883
		10,882,462			10,176,609

OPERATING INCOME		2,941,178			1,965,332

OTHER INCOME		3,339			403

INCOME BEFORE INCOME TAXES		2,944,517			1,965,735

PROVISION FOR INCOME TAXES		(1,275,000	)		(896,298	)

NET INCOME	$	1,669,517		$	1,069,437

BASIC AND DILUTED EARNINGS PER COMMON SHARE (Note 1)	$	.73		$	.46

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (IN THOUSANDS)		2,303			2,303

Financials

Fri, 07 May 2010 04:00:00 GMT

	Nine Months Ended				Three Months Ended
	Dec. 25,		Dec. 26,		Dec. 25,		Dec. 26,
	2009		2008		2009		2008

REVENUE, net sales	$	8,951,957	$	7,932,098	$	3,087,233	$	2,701,770

COSTS AND EXPENSES

Cost of products sold		5,848,266		5,390,593		1,978,079		1,778,843
Selling, general and administrative		1,318,628		1,145,487		475,092		400,193
Interest expense		36,404		52,643		10,229		14,157
Depreciation and amortization		130,914		135,040		42,600		44,880
		7,334,212		6,723,763		2,506,000		2,238,073

OPERATING INCOME		1,617,745		1,208,335		581,233		463,697

OTHER INCOME		255		546		133		270

INCOME BEFORE INCOME TAXES		1,618,000		1,208,881		581,366		463,967

PROVISION FOR INCOME TAXES		593,400		448,000		277,800		406,000

NET INCOME	$	1,024,600	$	760,881	$	303,566	$	57,967

BASIC AND DILUTED EARNINGS PER SHARE	$	.45	$	.33	$	.13	$	.03

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (in thousands)		2,303		2,303		2,303		2,303