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.
IEH Corporation (OTCQX:IEHC) announced projected revenue between $34 million and $36 million for the fiscal year ending March 31, 2021, representing a 5% to 10% increase over the previous year. The company intends to file its 10-K and delayed 10-Q forms on time. However, due to these filing delays, the OTC has indicated a temporary tier transfer for IEH in their exchange starting March 19, 2021. CEO Dave Offerman expressed confidence in resolving inventory accounting discrepancies, emphasizing the company’s resilience during COVID-19.
IEH Corporation (OTCQX:IEHC) projects a revenue range of $32 to $34 million for the fiscal year ending March 31, 2021, indicating a potential growth of up to 5% compared to the previous year. This estimate is based on current production levels and delivery backlogs. However, the company continues to face challenges with delinquent Securities Exchange Act filings, specifically for the quarters ending June 30 and September 30, 2020. Management has not provided specific guidance on income or earnings due to ongoing issues with inventory accounting.
IEH Corporation (OTC:IEHC) reported a revenue increase of 13% for fiscal year 2020, totaling $32.2 million compared to $28.4 million in 2019.
However, operating income dropped 57% to $3.3 million, and net income decreased by 50%, from $5.16 million to $2.56 million, causing EPS to decline from $2.23 to $1.09. The company cited increased personnel costs and depreciation as key factors for the decline. Despite challenges due to the pandemic, IEH remains financially stable and well-positioned for recovery.
IEH Corporation has appointed William H. Craig as its new Chief Financial Officer and Treasurer, effective following the filing of its Annual Report on Form 10-K for the fiscal year ended March 31, 2020. Craig succeeds Robert Knoth, who retires after 30 years of service. The Board of Directors has expressed confidence in Craig's extensive background in finance and leadership in manufacturing. IEH specializes in manufacturing printed circuit board connectors for high-performance applications, primarily serving sectors like defense, aerospace, and industrial applications.