IEC Wins Contract Valued at More Than $50 Million From Top Global Defense Company

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NEWARK, N.Y., May 15, 2019 (GLOBE NEWSWIRE) -- IEC Electronics Corp. (NYSE American: IEC) today announced that it has been awarded a multi-year contract, valued at more than $50 million, from a Tier 2 Department of Defense Contractor.  This award expands IEC’s participation with a program it has supported for several years from a single service line to now supporting the entire outsourcing of a program associated with secured communications equipment for U.S. aircraft, ground vehicles and surface warships.  

Jeffrey T. Schlarbaum, President and CEO of IEC Electronics commented, “This contract win is an exciting development for IEC because we believe it demonstrates this leading defense contractor’s continued confidence in our capabilities and dependability as a full service electronics manufacturer for life-saving, mission critical programs.  We have deliberately focused on enhancing our technical capabilities to position IEC as a distinguished, vertically integrated manufacturing partner who has the ability to serve as a seamless extension of our customers’ supply chain, including the ability to fulfill their entire life-cycle outsourcing needs. We believe the award of this contract for this innovative military communications product is validation of our ability to meet and exceed our customer’s expectations.  We’re energized by the opportunities we’re seeing in the marketplace both in terms of expanding our work with existing customers and winning new customers and believe we remain on track to drive continued growth and profitability as we move through the balance of 2019 and beyond.”

IEC Electronics is a provider of electronic manufacturing services ("EMS") to advanced technology companies that produce life-saving and mission critical products for the medical, industrial, aerospace and defense sectors. The Company specializes in delivering technical solutions for the custom manufacture of complex full system assemblies by providing on-site analytical testing laboratories, custom design and test engineering services combined with a broad array of manufacturing services encompassing electronics, interconnect solutions, and precision metalworking.  As a full service EMS provider, IEC holds all appropriate certifications for the market sectors it supports including ISO 9001:2008, AS9100D, and ISO 13485, and is Nadcap accredited.  IEC Electronics is headquartered in Newark, NY and also has operations in Rochester, NY and Albuquerque, NM.  Additional information about IEC can be found on its web site at .

 

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Globe Newswire: 14:30 GMT Wednesday 15th May 2019

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