IEC Receives $10.2 M Communications Contract

IEC Electronics Corp. (NYSE MKT: IEC) today announced that it has been awarded a three-year, $10.2 million contract from a Tier 2 Department of Defense Supplier in support of digital tactical networking and voice communication equipment for U.S. aircraft, ground vehicles, and surface warships.

IEC expects to commence production in the fourth quarter of fiscal 2016.

Jeffrey T. Schlarbaum, President & CEO of IEC Electronics, commented, "We have supported this customer over the past several years, and this contract demonstrates IEC's ongoing ability to meet their highly complex manufacturing requirements. This sophisticated communications product is well-suited for IEC's core expertise, and we are also encouraged by the prospect that this program could grow larger."

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Source: IEC Electronics
Date: Jun 23, 2016