IEH Corp Files Q3 2024 10-Q Report

TL;DR

IEH Corp filed its 10-Q for Q3 2024. All systems go from Brooklyn.

AI Summary

IEH Corp filed its 10-Q report for the quarterly period ended September 30, 2024. The company, incorporated in New York, operates in the electronic connectors industry. Its principal executive offices are located at 140 58th Street, Brooklyn, NY.

Why It Matters

This filing provides investors with an update on IEH Corp's financial performance and operational status for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant new information presented.

Key Numbers

• 000-05278 — Commission file number (Identifies the company's SEC filings)
• 13-5549348 — IRS Employer Identification No. (Company's tax identification number)

Key Players & Entities

• IEH Corp (company) — Registrant
• September 30, 2024 (date) — Quarterly period end date
• New York (location) — State of incorporation
• 140 58th Street, Brooklyn, NY 11220 (location) — Principal executive offices address
• 3678 (industry_code) — Standard Industrial Classification for Electronic Connectors

FAQ

Key Financial Figures

• $0.01 — ch Registered: Shares of common stock, $0.01 par value IEHC OTC Pink Market Indica
• $0 — 505 . The provision for income taxes of $0 for the three and six months ended Sept

Filing Documents

• ea0220143-10q_iehcorp.htm (10-Q) — 485KB
• ea022014301ex31-1_iehcorp.htm (EX-31.1) — 10KB
• ea022014301ex31-2_iehcorp.htm (EX-31.2) — 10KB
• ea022014301ex32-1_iehcorp.htm (EX-32.1) — 5KB
• 0001213900-24-095890.txt ( ) — 3278KB
• iehc-20240930.xsd (EX-101.SCH) — 28KB
• iehc-20240930_cal.xml (EX-101.CAL) — 28KB
• iehc-20240930_def.xml (EX-101.DEF) — 136KB
• iehc-20240930_lab.xml (EX-101.LAB) — 256KB
• iehc-20240930_pre.xml (EX-101.PRE) — 144KB
• ea0220143-10q_iehcorp_htm.xml (XML) — 360KB

SIGNATURES

SIGNATURES 22 i CAUTIONARY NOTE FORWARD-LOOKING STATEMENTS This report contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and Section 27A of the Securities Act of 1933, as amended (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 1, Item 1A, Risk Factors, of our Annual Report on Form 10-K for the fiscal year ended March 31, 2024, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 14, 2024. Forward-looking statements 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 products 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 operate our accounting systems effectively; 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 o

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements IEH CORPORATION CONDENSED BALANCE SHEETS As of September 30, 2024 March 31, 2024 (Unaudited) Assets Current assets: Cash and cash equivalents $ 8,587,615 $ 6,139,823 Accounts receivable 3,552,603 3,913,731 Inventories 8,188,628 8,731,618 Corporate income taxes receivable 1,824,172 2,199,174 Prepaid expenses and other current assets 65,909 187,984 Total current assets 22,218,927 21,172,330 Non-current assets: Property, plant and equipment, net 3,107,643 3,340,615 Operating lease right-of-use assets 2,148,877 2,324,753 Security deposits 75,756 75,756 Total assets $ 27,551,203 $ 26,913,454 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 934,269 $ 781,082 Customer advance payments 993,620 882,525 Operating lease liabilities 369,975 351,804 Other current liabilities 641,170 861,208 Total current liabilities 2,939,034 2,876,619 Operating lease liabilities, non-current 2,048,321 2,237,317 Total liabilities 4,987,355 5,113,936 Commitments and Contingencies (Note 9) Shareholders' Equity Common Stock, $ 0.01 par value; 10,000,000 shares authorized; 2,380,251 shares issued and outstanding at September 30, 2024 and March 31, 2024 23,803 23,803 Additional paid-in capital 8,091,174 7,966,074 Retained earnings 14,448,871 13,809,641 Total Shareholders' Equity 22,563,848 21,799,518 Total Liabilities and Shareholders' Equity $ 27,551,203 $ 26,913,454 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 September 30, For the Six Months Ended September 30, 2024 2023 2024 2023 Revenue $ 7,341,124 $ 4,810,988 $ 14,446,101 $ 9,490,833 Costs and expenses: Cost of products sold 5,610,080 3,894,423 10,504,598 8,135,855 Selling, general and administrative 1,

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