IEH Corp Files 10-Q for Q3 2024

TL;DR

IEH Corp's Q3 2024 10-Q is in. Check financials.

AI Summary

IEH Corp filed its 10-Q for the quarterly period ended December 31, 2024. The company, incorporated in New York, is in the business of electronic connectors. 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 quarter ending December 31, 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new information presented in the provided snippet.

Key Numbers

• 0-5278 — Commission file number (Identifies the company's SEC filings)
• 13-5549348 — I.R.S. Employer Identification No. (Company's tax identification number)

Key Players & Entities

• IEH Corp (company) — Registrant
• December 31, 2024 (date) — Quarterly period end date
• New York (location) — State of incorporation
• 140 58th Street, Brooklyn, NY 11220 (location) — Principal executive offices address
• 3678 (number) — Standard Industrial Classification code for Electronic Connectors

FAQ

Key Financial Figures

• $0.01 — h Registered: Shares of common stock, $0.01 par value IEHC OTC Pink Market Indica
• $0 — 024 and March 31, 2024, the Company had $0 and $ 3,500,000 in cash equivalents, r

Filing Documents

• ea0229341-10q_iehcorp.htm (10-Q) — 522KB
• ea022934101ex31-1_iehcorp.htm (EX-31.1) — 15KB
• ea022934101ex31-2_iehcorp.htm (EX-31.2) — 16KB
• ea022934101ex32-1_iehcorp.htm (EX-32.1) — 8KB
• 0001213900-25-012199.txt ( ) — 3347KB
• iehc-20241231.xsd (EX-101.SCH) — 27KB
• iehc-20241231_cal.xml (EX-101.CAL) — 29KB
• iehc-20241231_def.xml (EX-101.DEF) — 128KB
• iehc-20241231_lab.xml (EX-101.LAB) — 257KB
• iehc-20241231_pre.xml (EX-101.PRE) — 144KB
• ea0229341-10q_iehcorp_htm.xml (XML) — 373KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Condensed Balance Sheets as of December 31, 2024 (unaudited) and March 31, 2024 1 Condensed Statements of Operations for the three and nine months ended December 31, 2024 and 2023 (unaudited) 2 Condensed Statements of Changes in Shareholders' Equity for the three and nine months ended December 31, 2024 and 2023 (unaudited) 3 Condensed Statements of Cash Flows for the nine months ended December 31, 2024 and 2023 (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 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 19

– OTHER INFORMATION

PART II – OTHER INFORMATION 20 Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A.

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6. Exhibits 21 EXHIBIT INDEX 21

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 Pennsylvania facility into our operations; and our ability to attract and retain key employees. No forward-looking statement is a guarante

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements IEH CORPORATION CONDENSED BALANCE SHEETS As of December 31, 2024 March 31, 2024 (Unaudited) Assets Current assets: Cash and cash equivalents $ 9,041,167 $ 6,139,823 Accounts receivable, net 3,544,385 3,913,731 Inventories, net 7,589,249 8,731,618 Corporate income taxes receivable 1,787,234 2,199,174 Prepaid expenses and other current assets 77,086 187,984 Total current assets 22,039,121 21,172,330 Non-current assets: Property, plant and equipment, net 2,996,367 3,340,615 Operating lease right-of-use assets 2,058,991 2,324,753 Security deposits 75,756 75,756 Total assets $ 27,170,235 $ 26,913,454 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 783,393 $ 781,082 Customer advance payments 751,632 882,525 Operating lease liabilities 380,928 351,804 Other current liabilities 662,349 861,208 Total current liabilities 2,578,302 2,876,619 Operating lease liabilities, non-current 1,948,225 2,237,317 Total liabilities 4,526,527 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 December 31, 2024 and March 31, 2024 23,803 23,803 Additional paid-in capital 8,232,674 7,966,074 Retained earnings 14,387,231 13,809,641 Total Shareholders' Equity 22,643,708 21,799,518 Total Liabilities and Shareholders' Equity $ 27,170,235 $ 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 December 31, For the Nine Months Ended December 31, 2024 2023 2024 2023 Revenue $ 7,217,616 $ 5,107,757 $ 21,663,717 $ 14,598,590 Costs and expenses: Cost of products sold 5,569,467 4,479,750 16,074,065 12,615,605 Selling, general and administrat

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