IEC Electronics stock jumps after it wins $50 million-plus contract from a US defense contractor
IEC Electronics Corp (NYSEAMERICAN:IEC), a provider of electronic-manufacturing services, announced Wednesday that it has won from a Tier 2 US defense contractor a multi-year contract valued at more than $50 million.
Following the company’s announcement, IEC’s stock traded up 9.6% to $6.60 on higher-than-average volume.
IEC, based in Newark, New Jersey, said the contract win expands IEC’s participation with a program its has been working with for several years.
READ: Tel-Instrument Electronics secures $615,000 order from major military customer in the Asia-Pacific region
The company’s role began with a single service line, but now under the new contract it will support the entire outsourcing of the program that’s associated with secured communications equipment for U.S. aircraft, ground vehicles and surface warships, according to a statement.
“We believe the award of this contract for this innovative military communications product is validation of our ability to meet and exceed our customer’s expectations,” said CEO Jeffrey Schlarbaum.
Founded in 1966, IEC Electronics Corp, together with its subsidiaries provides electronic manufacturing services in the United States. It serves the defence, medical, industrial, and aerospace sectors.
Contact the author: [email protected]
Follow him on Twitter @PatrickMGraham
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/220356/iec-electronics-stock-jumps-after-it-wins-50-million-plus-contract-from-a-us-defense-contractor-220356.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).