IEH Corp files form 10-Q for with SEC

IEH Corporation filed with the Securities and Exchange Commission its quarterly report on Form 10-Q for the fiscal quarter ending June 30, 2024. For the quarter ended June 30, 2024, IEH had revenues of $7,104,977 as compared to $4,679,845 for the quarter ended June 30, 2023 reflecting a 52% increase; an operating profit of $332,979 for 1st quarter fiscal year 2025 as compared to an operating loss of $1,334,392 for 1st quarter fiscal year 2024; a net profit of $392,787 for 1st quarter fiscal year 2025 as compared to a net loss of $1,315,902 for 1st quarter fiscal year 2024; and a basic earnings per share of $.17 for 1st quarter fiscal year 2025 as compared to a basic loss per share of $.56 for 1st quarter fiscal year 2024. Dave Offerman, President and CEO of IEH Corporation commented, “By every notable metric of financial performance, IEH has experienced significant growth and improvement in this quarter compared to the same quarter of last year. Revenue, gross margins and operating income all increased considerably, and after 2 years of losses due to jet groundings, COVID-induced contractions in the commercial aerospace supply chain, higher costs and shifting defense priorities, we achieved profitability. While this does not approach our pre-COVID top and bottom line results, it is nonetheless noteworthy when considering the difficulties of the last few years and the continued industry challenges. Growth and improvements 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 our defense-related business, 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.”