Welcome to our dedicated page for Ieh news (Ticker: IEHC), a resource for investors and traders seeking the latest updates and insights on Ieh stock.
IEH Corporation designs, develops, and manufactures printed circuit board connectors, custom interconnects, and contacts for high-performance applications. The company’s news commonly centers on its Hyperboloid connector technology, defense and aerospace demand, missile and air-defense program orders, commercial space applications, and production backlog.
IEH also reports periodic financial results, SEC report filings, market-tier changes for its IEHC common stock, and shareholder communications. Its customer markets include defense, aerospace, space, industrial, and related high-reliability applications across North America, Europe, Asia, and the Middle East.
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IEH Corporation filed an Opposition Brief on March 15, 2023, regarding the SEC's Motion for Summary Disposition, addressing concerns about its SEC reporting obligations. CEO Dave Offerman emphasized the company's determination to oppose any registration revocation, attributing delays to inventory accounting discrepancies now nearing resolution. The company anticipates filing a 'Super-10K' soon, aggregating overdue periods. Notably, IEH reports a rise in backlog by 71% this fiscal year, indicating a positive growth trajectory after recent challenges, despite revenues still below 2020 levels. Shareholders are encouraged to stay informed about upcoming developments.
IEH Corporation filed a response to the SEC’s order regarding potential suspension of its Securities Exchange Act registration due to late periodic reports. CEO Dave Offerman emphasized the company's commitment to resolving accounting discrepancies and fulfilling reporting obligations. The company experienced a 30% revenue decline for the fiscal year ending March 2022, projecting revenues of $16M to $18M for fiscal 2023, affected by market challenges. IEH has taken steps to reduce costs and expects revenue recovery towards fiscal 2024.
IEH Corp provided an update on its SEC filings and an SEC order issued due to past due reports. The company plans to respond to the order by October 3, 2022, asserting that the proceedings are unwarranted given its size and efforts to resolve inventory accounting issues during the transition to a new system. IEH aims to file a Super 10-K to aggregate overdue reports to restore trading on the OTC Markets. The company acknowledges the frustration of shareholders and appreciates their patience as they work towards resolving these issues.
IEH Corporation (OTC PINK:IEHC) announced that starting September 28, 2021, its stock will trade under the OTC Pink Sheet No Information tier due to SEC rule changes. This means broker-dealers cannot provide stock quotes, limiting transactions to the "Expert" market. The company has been unable to meet SEC filing requirements but is working to address this issue. Despite these challenges, IEH Corporation confirmed its revenue guidance of 5% to 10% year-over-year and stated its balance sheet is strong with cash at an all-time high.
IEH Corporation (OTC PINK:IEHC) announced a delay in filing its Form 10-K for the fiscal year ending March 31, 2021. The company cited challenges with reconciling its legacy ERP system with a new system as the reason for the delay. Despite this, IEH confirmed a revenue guidance of 5% to 10% year-over-year increase. Additionally, its $2.1M PPP loan has been fully forgiven, and cash reserves are at an all-time high. However, revenue is expected to decline in fiscal '22 due to COVID's impact on the commercial aviation sector.