IEH Corp Files 10-Q for Period Ended December 31, 2023

TL;DR

<b>IEH Corp has filed its quarterly report for Q4 2023, confirming compliance with SEC filing requirements.</b>

AI Summary

IEH Corp (IEHC) filed a Quarterly Report (10-Q) with the SEC on February 13, 2024. IEH Corp filed a 10-Q report for the quarterly period ended December 31, 2023. The company's common stock trades under the symbol IEHC on the OTC Pink Market. IEH Corp is incorporated in New York and its fiscal year ends on March 31. The principal executive offices are located at 140 58th Street, Suite 8E, Brooklyn, NY 11220. The company has confirmed it has filed all required reports for the preceding 12 months and submitted all Interactive Data Files.

Why It Matters

For investors and stakeholders tracking IEH Corp, this filing contains several important signals. This filing provides an update on IEH Corp's financial performance and operational status for the most recent quarter. Investors can use this 10-Q to assess the company's financial health and make informed investment decisions.

Risk Assessment

Risk Level: low — IEH Corp shows low risk based on this filing. The filing is a routine quarterly report and does not contain significant new financial data or disclosures that would indicate a change in risk profile.

Analyst Insight

Review the full 10-Q filing for detailed financial statements and management discussion to understand IEH Corp's performance and outlook.

Key Numbers

• 20231231 — Conformed Period of Report (Quarterly period ended)
• 0001213900-24-013296 — Accession Number (Filing identifier)
• 0-5278 — Commission file number (SEC registration)
• 13-5549348 — I.R.S. Employer Identification No. (Tax identification)

Key Players & Entities

• IEH Corp (company) — Registrant
• December 31, 2023 (date) — Quarterly period ended
• IEHC (company) — Trading Symbol
• OTC Pink Market (company) — Name of Each Exchange On Which Registered
• New York (location) — State of incorporation
• March 31 (date) — Fiscal year end
• 140 58th Street, Suite 8E, Brooklyn, NY 11220 (address) — Address of principal executive offices
• 7184924440 (phone) — Registrant's telephone number

Forward-Looking Statements

• IEH Corp will continue to focus on cost management to improve profitability. (IEH Corp) — medium confidence, target: Next 12 months
• Net sales may remain flat or slightly decline in the near term given the current trend. (IEH Corp) — medium confidence, target: Next 6 months

FAQ

Industry Context

IEH Corp operates in the Electronic Connectors industry, as indicated by its SIC code 3678.

Regulatory Implications

The filing is made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 and Rule 405 of Regulation S-T.

What Investors Should Do

1. Review the financial statements within the 10-Q for detailed revenue, expenses, and balance sheet information.
2. Analyze the Management's Discussion and Analysis section for insights into the company's operational performance and future outlook.
3. Check for any new risk factors or legal proceedings disclosed in the filing.

Key Dates

• 2023-12-31: Quarterly period end — Reporting period for the 10-Q filing.
• 2024-02-13: Filing Date — Date the 10-Q was submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending December 31, 2023, following the previous fiscal year-end reporting.

Key Financial Figures

• $0.01 — ch Registered: Shares of common stock, $0.01 par value IEHC OTC Pink Market Indica

Filing Documents

• f10q1223_iehcorporation.htm (10-Q) — 516KB
• f10q1223ex31-1_iehcorp.htm (EX-31.1) — 11KB
• f10q1223ex31-2_iehcorp.htm (EX-31.2) — 12KB
• f10q1223ex32-1_iehcorp.htm (EX-32.1) — 5KB
• 0001213900-24-013296.txt (&nbsp;) — 3284KB
• iehc-20231231.xsd (EX-101.SCH) — 40KB
• iehc-20231231_cal.xml (EX-101.CAL) — 30KB
• iehc-20231231_def.xml (EX-101.DEF) — 151KB
• iehc-20231231_lab.xml (EX-101.LAB) — 332KB
• iehc-20231231_pre.xml (EX-101.PRE) — 163KB
• f10q1223_iehcorporation_htm.xml (XML) — 374KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Condensed Balance Sheets as of December 31, 2023 (unaudited) and March 31, 2023 1 Condensed Statements of Operations for the three and nine months ended December 31, 2023 and 2022 (unaudited) 2 Condensed Statements of Changes in Stockholders' Equity for the three and nine months ended December 31, 2023 and 2022 (unaudited) 3 Condensed Statements of Cash Flows for the nine months ended December 31, 2023 and 2022 (unaudited) 4 Notes to Unaudited Condensed Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23

– OTHER INFORMATION

PART II – OTHER INFORMATION 24 Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosure 24 Item 5. Other Information 24 Item 6. Exhibits 24 EXHIBIT INDEX 25

SIGNATURES

SIGNATURES 26 i CAUTIONARY NOTE FORWARD-LOOKING STATEMENTS This report contains forward-looking statements within the meaning of Section 21E of the Exchange Act and Section 27A of the Securities Act. Any statements contained in this report that are not statements of historical fact may be forward-looking statements. When we use the words "anticipates," "plans," "estimates," "expects," "believes," "should," "could," "may," "will" and similar expressions, we are identifying forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future financial events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Forward-looking statements involve risks and uncertainties described under "Risk Factors" in Part II, Item 1A, and elsewhere in this Quarterly Report on Form 10-Q, and as set forth in Part I, Item 1A, Risk Factors, of our Form 10-K for the fiscal year ended March 31, 2023, filed with the Securities and Exchange Commission ("SEC") on October 6, 2023, and may include statements related to, among other things: macroeconomic factors, including inflationary pressures, supply shortages and recessionary pressures; accounting estimates and assumptions; pricing pressures on our product caused by competition; the risk that our products will not gain market acceptance; our ability to obtain additional financing; our ability to successfully prevent our registration with the SEC from being suspended or revoked; our ability to protect intellectual property; our ability to integrate our satellite facility into our operations; and our ability to attract and retain key employees. No forward-looking statement is a guarantee of future performance and you should not place undue reliance on any forward-looking statements. Our actual results may differ materially from those projected in any forward-looking statements, as they w

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements IEH CORPORATION CONDENSED BALANCE SHEETS As of December 31, 2023 March 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 4,939,983 $ 8,344,706 Accounts receivable 3,242,467 2,985,936 Inventories 9,779,521 9,446,392 Corporate income taxes receivable 1,492,762 1,723,473 Prepaid expenses and other current assets 136,404 96,783 Total current assets 19,591,137 22,597,290 Non-current assets: Property, plant and equipment, net 3,346,230 3,865,066 Operating lease right-of-use assets 2,410,804 2,661,779 Security deposit 75,756 75,756 Total assets $ 25,423,927 $ 29,199,891 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 817,867 $ 1,054,078 Customer advance payments 35,121 20,639 Operating lease liabilities 342,937 317,334 Other current liabilities 558,888 902,149 Total current liabilities 1,754,813 2,294,200 Non-current liabilities: Operating lease liabilities, non-current 2,329,152 2,589,121 Total liabilities 4,083,965 4,883,321 Commitments and Contingencies (Note 9) Stockholders' Equity Common Stock, $ 0.01 par value; 10,000,000 shares authorized; 2,380,251 and 2,370,251 shares issued and outstanding at December 31, 2023 and March 31, 2023, respectively 23,803 23,703 Additional paid-in capital 7,932,174 7,566,324 Retained earnings 13,383,985 16,726,543 Total Stockholders' Equity 21,339,962 24,316,570 Total Liabilities and Stockholders' Equity $ 25,423,927 $ 29,199,891 The accompanying notes are an integral part of these unaudited condensed financial statements. 1 IEH CORPORATION CONDENSED STATEMENTS OF OPERATIONS (Unaudited) For the Three Months Ended December 31, For the Nine Months Ended December 31, 2023 2022 2023 2022 Revenue $ 5,107,757 $ 5,571,291 $ 14,598,590 $ 13,843,521 Costs and expenses: Cost of products sold 4,479,750 4,445,444 12,615,605 1

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View this 10-Q filing on SEC EDGAR