Business UpdateJun 12, 2026, 12:31 PM
IEH Corp Backlog Jumps to $27.78M in FY26; ITGC Weakness Noted
AI Summary
IEH Corp reported a significant increase in its order backlog, reaching $27.78 million as of March 31, 2026, up from $12.45 million in the previous year, driven by defense orders and commercial aerospace recovery. The company, a manufacturer of Hyperboloid connectors, highlighted customer concentration risks, with two customers accounting for 34% of FY26 net revenues. Additionally, management identified a material weakness in its internal controls over financial reporting due to ineffective IT General Controls.
Key Highlights
- Backlog increased to $27,782,000 at March 31, 2026, from $12,445,000 in the prior year.
- Two customers accounted for 34.0% of net revenues in FY26 (23.5% and 10.5% individually).
- Defense applications comprised 63.2% of sales in FY26, commercial aerospace 25.2%.
- International sales were 5.8% of net sales for fiscal year ended March 31, 2026.
- The company employed 176 people as of March 31, 2026, with 174 full-time employees.
- A collective bargaining agreement with the Union expires on March 31, 2027.
- Management concluded internal controls over financial reporting were not effective as of March 31, 2026.
- Identified material weakness due to ineffective design and implementation of Information Technology General Controls (ITGC).
Price Impact
More from IEHC