Company profile

Jeffrey T. Schlarbaum
Incorporated in
Fiscal year end
Industry (SEC)
IRS number

IEC stock data

FINRA relative short interest over last month (20 trading days) ?


5 Feb 20
7 Apr 20
30 Sep 20


Company financial data Financial data

Quarter (USD) Dec 19 Sep 19 Jun 19 Mar 19
Revenue 44.73M 43.92M 40.32M 37.29M
Net income 1.19M 1.79M 1.21M 670K
Diluted EPS 0.11 0.17 0.11 0.06
Net profit margin 2.66% 4.08% 3.00% 1.80%
Operating income 1.94M 2.72M 1.88M 1.26M
Net change in cash 0 0 0 0
Cash on hand 0 0 0 0
Cost of revenue 39.5M 37.53M 34.72M 32.71M
Annual (USD) Sep 19 Sep 18 Sep 17 Sep 16
Revenue 156.98M 116.92M 96.46M 127.01M
Net income 4.75M 10.41M 81K 4.79M
Diluted EPS 0 0 0 470
Net profit margin 3.02% 8.90% 0.08% 3.77%
Operating income 7.57M 2.72M 1.06M 6.25M
Net change in cash 0 0 -845K 438K
Cash on hand 0 0 0 845K
Cost of revenue 135.34M 102.77M 85.2M 106.72M

Financial data from company earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
16 Mar 20 Schlarbaum Jeffrey T Common Stock Payment of exercise Dispose F 5.4 6,926 37.4K 26,970
16 Mar 20 Schlarbaum Jeffrey T Common Stock Option exercise Aquire M 0 17,015 0 33,896
16 Mar 20 Schlarbaum Jeffrey T RSU Common Stock Option exercise Dispose M 0 17,015 0 0
16 Mar 20 Butler Keith M Common Stock Grant Aquire A 0 4,970 0 56,674
16 Mar 20 Osborne Michael W Common Stock Grant Aquire A 0 4,970 0 18,260
16 Mar 20 Nowak Jeremy R Common Stock Grant Aquire A 0 4,970 0 45,026
16 Mar 20 Laurence Andrew M Common Stock Grant Aquire A 0 4,970 0 32,526
31.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 31 31
Opened positions 4 3 +33.3%
Closed positions 4 3 +33.3%
Increased positions 10 10
Reduced positions 4 7 -42.9%
13F shares
Current Prev Q Change
Total value 29.82M 88.6M -66.3%
Total shares 3.28M 2.83M +15.9%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Punch & Associates Investment Management 636.2K $5.78M +3.4%
Solas Capital Management 611.38K $5.56M +3.8%
Renaissance Technologies 312.07K $2.84M +3.1%
Vanguard 293.09K $2.67M +5.2%
Dimensional Fund Advisors 271.84K $2.47M +3.4%
Next Century Growth Investors 253.52K $2.3M NEW
Walthausen & Co. 239.34K $2.18M +7.4%
EAM Investors 120.17K $1.09M NEW
Cobblestone Capital Advisors 88.79K $807K 0.0%
BLK BlackRock 63.61K $578K -9.4%
Largest transactions
Shares Bought/sold Change
Next Century Growth Investors 253.52K +253.52K NEW
EAM Investors 120.17K +120.17K NEW
Squarepoint Ops 0 -23.28K EXIT
Solas Capital Management 611.38K +22.31K +3.8%
Punch & Associates Investment Management 636.2K +21K +3.4%
MS^L Morgan Stanley 28.6K +19.48K +213.6%
Walthausen & Co. 239.34K +16.55K +7.4%
Vanguard 293.09K +14.44K +5.2%
Arrowstreet Capital, Limited Partnership 0 -10.92K EXIT
Renaissance Technologies 312.07K +9.25K +3.1%

Financial report summary

DucommunSpartonPlexusBenchmark Electronics
  • We depend on a relatively small number of customers, the loss of one or more of whom may negatively affect our operating results.
  • We participate in the electronics industry, which historically produces technologically advanced products with short life cycles.
  • Because a significant portion of our business is defense-related, reductions or delays in U.S. defense spending may have a material adverse effect on our revenues.
  • We are subject to extensive regulation and audit by the Defense Contract Audit Agency.
  • Our business could be negatively impacted by economic slowdowns in the medical sector.
  • Global economic and financial market conditions may have a material adverse effect on our results of operations and financial condition.
  • Tariffs imposed by the U.S. and those imposed in response by other countries, as well as rapidly changing trade relations, could have a material adverse effect on our business and results of operations.
  • A failure of our information technology systems, including the implementation of our new enterprise resource planning system, could have a material adverse effect on our business.
  • Products we manufacture may contain defects in workmanship, which could result in reduced demand for our services and product liability claims against us.
  • We may not be able to maintain the engineering, technological and manufacturing capabilities required by our customers in the future.
  • Our operating results may fluctuate from period to period.
  • The agreements governing our debt contain various covenants that may constrain the operation of our business, and our failure to comply with these covenants may have a material adverse effect on our financial condition.
  • We are subject to ongoing compliance obligations in connection with an administrative order and our failure to comply with those obligations could adversely affect our business and the liquidity of our common stock.
  • Start-up costs and inefficiencies related to new or transferred programs can have a material adverse effect on our operating results and may not be recoverable.
  • Some of our customers may have regulatory issues that adversely affect our operating results.
  • We may not realize the full value of our backlog, which may result in lower than expected revenue.
  • Increased competition may result in decreased demand or reduced prices for our products and services.
  • We depend on a limited number of suppliers for components that are critical to our manufacturing processes. A shortage of these components or an increase in their price could interrupt our operations and adversely affect our operating results.
  • Our turn-key manufacturing services involve inventory risk.
  • Security breaches and other disruptions, both physical and virtual, could compromise our information, harm customer relationships and expose us to liability, which would cause our business and reputation to suffer.
  • Our manufacturing processes and services may result in exposure to intellectual property infringement and other claims.
  • A failure to comply with customer-driven policies and standards, including those related to social responsibility and conflict minerals, could adversely affect our business and reputation.
  • If we are unable to maintain satisfactory capacity utilization rates, our results of operations and financial condition would be adversely affected.
  • If our customers choose to provide manufacturing services in-house or overseas, our results of operations could suffer.
  • We may experience disruptions to our business as a result of the relocation of our headquarters and a significant portion of our operations.
  • We may face heightened liability risks specific to our medical device business as a result of additional healthcare regulatory related compliance requirements and the potential severe consequences that could result from manufacturing defects or malfunctions (e.g., death or serious injury) of the medical devices we manufacture, design or test.
Management Discussion
  • Revenue increased 34.3%, or $40.1 million, during fiscal 2019 as compared to the prior fiscal year. The increase was driven by increases in sales in all sectors: aerospace and defense sector of $27.8 million, medical sector of $7.5 million and the industrial sector of $4.7 million.
  • Various increases and decreases for our aerospace and defense customers resulted in a net increase in sales of $27.8 million for fiscal 2019 compared to fiscal 2018. Programs frequently fluctuate in demand or end and are replaced by new programs. Aggregate increases in sales in fiscal 2019 were due to net increases in customer demand was $13.3 million. We saw an increase in sales of $18.8 million from production ramp ups. However, these increases were partially offset by ending customer relationships, contracts reaching the end of their term and other customer delays, which caused a decrease in sales of $4.3 million during fiscal 2019.
  • The net increase of $7.5 million in sales in the medical sector was primarily due to programs ramping up of $7.3 million. The remaining changes were the result of changes in customer demand.
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