IEC Adopts a Tax Benefit Preservation Plan

NEWARK, NY–(Marketwired – Jul 31, 2014) – IEC Electronics Corp. (NYSE MKT: IEC) (the “Company”) announced today that its Board of Directors (the “Board”) has adopted a Tax Benefit Preservation Plan (the “Plan”) in an effort to preserve the value of its net operating loss carryforwards (“NOLs”) under Section 382 of the Internal Revenue Code (the “Code”). The Company’s use of its NOLs could be substantially limited if the Company experiences an “ownership change” (as defined in Section 382 of the Code). In light of recent accumulations of a significant percentage of the Company’s outstanding common stock, the Plan is intended to protect the Company’s NOLs from potentially unfavorable tax treatment.