IEC Wins Guided Missile Firing System Components Contract
IEC Electronics Corp. (NYSE MKT: IEC) today announced that it has received a $3.7 million contract from a strategic aerospace & defense customer with revenues in excess of $700 million. IEC Electronics will manufacture guided missile firing system components that are utilized by a top US Government prime contractor. The one-year contract value represents a greater than 50% increase in size over the Company's 2015 contract award with this customer.
Jeffrey T. Schlarbaum, President & CEO of IEC Electronics commented, "IEC has partnered with this customer for two years, and we are pleased to have the opportunity to grow our involvement. Reinvigorating our existing customer relationships has been a key initiative this past year and this contract illustrates the results of our focused efforts. This program, which will be fulfilled at our Albuquerque facility, leverages IEC's vertically integrated manufacturing services including our advanced test engineering and specialized processes for mission critical applications."
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Source : IEC Electronics - view original press release