UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

 

Date of Report (Date of earliest event reported) – June 12, 2012

 

IEC ELECTRONICS CORP.

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware 0-6508 13-3458955
(State or Other Jurisdiction
of Incorporation)		 (Commission
File Number)		 (IRS Employer Identification No.)

 

 

105 Norton Street, Newark, New York 14513

(Address of principal executive offices) (Zip code)

 

Registrant’s telephone number, including area code (315) 331-7742

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

 

£   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

£   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

£   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  £   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

Section 7 Regulation FD

Item 7.01 Regulation FD Disclosure

 

On June 12, 2012, IEC Electronics Corp. (the “Company”) distributed a presentation to be made at the Sidoti & Co. Semi Annual Micro-Cap Conference to be held on June 14, 2012. A copy of the presentation is furnished as Exhibit 99.1 to this report.

 

The presentation attached as Exhibit 99.1 references EBITDA, which is a non-GAAP financial measure. A reconciliation of this non-GAAP financial measure to the most directly comparable financial measure calculated and presented in accordance with GAAP, Operating Income, is posted in the Investor Relations section of the Company’s website, iec-electronics.com, and referenced in Exhibit 99.1.

 

This non-GAAP financial measure should not be considered in isolation or as a measure of the Company’s profitability or liquidity; it is in addition to, and is not a substitute for, financial measures under GAAP. EBITDA may be different from non-GAAP financial measures used by other companies, and may not be comparable to similarly titled measures reported by other companies. Further, the Company may utilize other measures to illustrate performance in the future. Non-GAAP financial measures have limitations since they do not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP.

 

The Company defines EBITDA as earnings before interest, taxes, depreciation and amortization. EBITDA does not take into account working capital requirements, capital expenditures, debt service requirements and other commitments, and accordingly, EBITDA is not necessarily indicative of amounts that may be available for discretionary use. The Company views EBITDA as a useful measure of operating performance given the Company’s strong operating margins and large net operating loss carryforward (NOL). Additionally, the Company presents EBITDA as a supplemental measure because: (i) it is a basis upon which the Company assesses its liquidity position and performance; (ii) the Company believes that investors will find the data useful in assessing its ability to service and/or incur indebtedness; and (iii) certain covenants in the Company’s credit facilities are tied to similar measures. The Company believes that EBITDA, when considered with both the Company’s GAAP results and the reconciliation to operating income, provides a more complete understanding of the Company’s business than could be obtained absent this disclosure.

 

Section 9 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

 

(d)Exhibits.

 

Exhibit 99.1Presentation to be made at June 14, 2012 Sidoti & Co. Semi Annual Micro-Cap Conference

 

The information in Item 7.01 of this Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such filing.

 

Neither the filing or furnishing of any exhibit to this report nor the inclusion in such exhibit of a reference to the Company’s Internet address shall, under any circumstances, be deemed to incorporate the information available at such address into this report. The information available at the Company’s Internet address is not part of this report.

 

 
 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    IEC Electronics Corp.  
    (Registrant)  
       
Date:  June 12, 2012 By: /s/ W. Barry Gilbert  
    W. Barry Gilbert  
    Chief Executive Officer  
       

 

 

EXHIBIT INDEX

 

Exhibit 99.1Presentation to be made at June 14, 2012 Sidoti & Co. Semi Annual Micro-Cap Conference