In This Story
IEH Corp. (IEHC-8.57%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in revenue to $7,217,616 from $5,107,757 in the same quarter the previous year. The increase is attributed to higher defense and space revenues.
Cost of products sold for the quarter was $5,569,467, representing 77% of sales, compared to 88% in the same quarter of the previous year. This reflects production efficiencies achieved with higher volumes.
Selling, general, and administrative expenses increased to $1,594,721 from $1,379,996, primarily due to increased marketing costs and sales commissions.
The company reported a net loss of $61,640 for the quarter, compared to a net loss of $926,053 in the previous year, with the improvement attributed to increased revenues.
Cash provided by operating activities was $3,114,787, while cash used in investing activities was $213,443.
IEH had a working capital of $19,460,819 as of December 31, 2024. The company expects existing cash and cash generated from operations to satisfy anticipated cash requirements.
The filing also details a new employment agreement with CEO David Offerman, effective January 1, 2025, and a settlement agreement with former CFO William H. Craig.
IEH continues to focus on its core business of manufacturing Hyperboloid connectors and reports strong order volumes from defense customers.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the IEH Corp. quarterly 10-Q report dated February 11, 2025. To report an error, please email earnings@qz.com.