8-K
IEH Corp (IEHC)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):April 10, 2025
IEHCorporation
(Exact Name of Registrant as Specified in Charter)
| New<br> York | 0-5278 | 13-5549348 |
|---|---|---|
| (State or Other Jurisdiction<br><br> <br>of Incorporation) | (Commission<br><br> <br>File Number) | (I.R.S. Employer<br><br> <br>Identification No.) |
140 58th Street, Suite 8E
Brooklyn, NY 11220
(Address of Principal Executive Offices, and ZipCode)
(718) 492-4440
Registrant’s Telephone Number, IncludingArea Code
Not Applicable
(Former Name or Former Address, if Changed SinceLast Report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock | IEHC | OTC Pink Market |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 | Regulation FD Disclosure |
|---|
Dave Offerman, the Chairman of the Board, President and Chief Executive Officer of IEH Corporation (the “Company”) will be presenting the information in the presentation slides attached hereto as Exhibit 99.1 at the LD Micro 15^th^ Annual Invitational at 3:00 pm Eastern Time on Thursday, April 10, 2025 at The Westin Grand Central in New York City.
The furnishing of the attached presentation is not an admission to the materiality of the information therein. The information contained in the slides is summary information that is intended to be considered in the context of more completion information included in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) and other public announcements that the Company has made and may make from time to time by press release or otherwise. The Company undertakes no duty or obligation to update or revise the information contained in this Report, although it may do so from time to time as its management believes is appropriate. Any such updating may be made through the filing of other reports or documents with the SEC through press release or through other public disclosures. For important information about forward-looking statement, see the slide titled “Forward Looking Statements” in Exhibit 99.1.
The information in this Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, The information contained in this Item 7.01 and in the presentation attached as Exhibit 99.1 to this Current Report shall not be incorporated by reference into any filing with the SEC made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibit is attached to this Current Report on Form 8-K.
| Exhibit Number | Exhibit Title or Description |
|---|---|
| 99.1 | Company slide presentation for LD Micro 15^th^ Invitational, April 10, 2025 |
1
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, hereunto duly authorized.
| IEHC Corporation | |
|---|---|
| By: /s/Subrata Purkayastha | |
| Name: Subrata Purkayastha | |
| Title: Chief Financial Officer | |
| Date: April 10, 2025 |
2
Exhibit 99.1
Company slide presentation for LD Micro 15^th^ Invitational, April 10, 2025
3
IEH Corporation (IEHC) Presentation for LD Micro Invitational 4/10/25 Dave Offerman President, CEO www.iehcorp.com
Forward Looking Statements This presentation may contain forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or IEHs future financial performance. Any statements that are not statements of historical fact \(including without limitation statements to the effect that the Company or its management "believes", "expects", "anticipates", "plans", “intends” and similar expressions\) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or IEHs actual results to differ materially from those indicated by the forward - looking statements. For a discussion of such risks and uncertainties, see “Risk Factors” in the company’s periodic reports filed with the SEC, including our Annual Report on Form 10 - K for the fiscal year ended March 31, 2024. In light of the risks and uncertainties inherent in the forward - looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. The forward - looking statements contained in this presentation are made as of the date hereof and may become outdated over time. The Company does not assume any responsibility for updating any forward - looking statements.
Hyperboloid Connectors and Contacts
HISTORY - Founded in 1941 by Louis Offerman - Located in SoHo, NYC - Originally made tools, dies and gauges for the Army during WWII Louis Offerman and his son Bernard, 1917 Louis and Bernard at IEH, 1941 Louis Offerman and his son Bernard, 1917 Louis and Bernard at IEH, 1941
HISTORY - Late 1940’s, began manufacturing tube sockets for consumer electronics industry - Changed name to “Industrial Hardware”, and went public July 29, 1954
HISTORY - 1960’s - business evolved from tube sockets to transistor and cathode ray tube (CRT) sockets - By 1970’s IEH was the largest CRT socket manufacturer in the world, making 70M sockets per year Louis Offerman and his two sons Bernard and Seymour at IEH, 1965
HISTORY Late 60’s - IEH purchased a non - exclusive license to produce Hyperboloid contacts, from FRB, and achieved qualification to the military specification for PCB connectors.
HISTORY Late 70’s through 1990’s - IEH business in military PCB connectors took off, due to customer demand for lower insertion forces. Product offering has grown from there, driven by customer demand and market determinations. Seymour Offerman, then President of IEH, with his nephew Michael Offerman, then VP of Sales, 1986.
HISTORY 1990s IEH moves from Manhattan to Brooklyn, and expands our product lines. Brooklyn Army Terminal, IEH’s headquarters since 1992
84 years and 4 Generations of Famil y - Run, USA - Made 2000’s – Present IEH continues to be one of the world’s leading producers of Hyperboloid connectors and contacts, and continues to diversify and expand product offerings Former President and CEO Michael Offerman and his son, IEH’s current President and CEO Dave Offerman, 2010 Ribbon - Cutting at Grand Opening of IEH’s Allentown, PA Facility March 2022
What is Hyperboloid Technology
The Hyperboloid contact is an advanced design that satisfies performance requirements previously considered impossible. Unique in concept, it is used in connectors having the highest standards of performance. The distinguishing feature of the Hyperboloid socket is the hyperboloid - shaped sleeve formed by straight wires strung at an angle to the longitudinal axis. When the pin is inserted into this sleeve, the wires stretch, well within elastic limits, to accommodate it. In so doing, the wires wrap themselves around the pin providing a number of continuous line contact paths.
- Low Insertion/Extraction Forces - Impervious to Shock & Vibration - Higher Current - Carrying Capacity - Longer Life
PCB Connectors
IEH Products Power and Signal Contacts
IEH Products Custom Interconnects and Flex/Cable Assemblies
IEH Products High - Speed Connectors
IEH Products Modular Hybrid Connectors
Some of our Applications • Avionics Platforms • Engine Control Systems • Missiles and Torpedoes • Guidance Systems • Vehicular Electronics • Satellites • Rocket Launchers • Down - hole drilling equipment • Medical Devices • Industrial and Environmental Controls • Hand Held devices • Test Equipment • Fuel Management Systems • Military Radios
Sector Distribution as of 12/31/24 Defense Commercial Aerospace Space Other
Market Distribution as of 12/31/24 US International
0 5000 10000 15000 20000 25000 30000 35000 40000 IEH Revenue Fiscal 2004 - 2025* (in thousands)
Notes on Revenue 18 years of steady, profitable, debt - free growth, until…. Two Consecutive Black Swan Events… - Boeing 737MAX twin crashes and subsequent worldwide grounding, affecting 7 - 10% of IEH revenue - COVID - 19, air travel declines 90% in one week, affecting another 25% of IEH revenue - And, Defense revenue declines due to shift in defense posture and priorities
IEHCORP.COM Since then - SLOW Boeing recovery - Defense Spending accelerating - Commercial Space Launch business “taking off”
After a 45% decline from FY2021 - 2023, revenue has since recovered 47%*, and on track for 3 rd best year ever * Fiscal 2025 projection
SAP Migration Issue and SEC Notice - Inventory discrepancy when moving from legacy MRP to SAP platform, impeding financial reporting from fiscal years 2021 - 2023 - SEC sent notice threatening to delist Aug 2022 - May 2023 IEH files “Super - 10K”, covering fiscal years 2021 - 2023, and has filed each subsequent Q and K on time - Currently petitioning SEC for dismissal Awaiting decision from SEC on petition for dismissal
Moving Forward….
Market Recovery and Sector Growth Defense Market Resurgence Boeing accelerating production Airbus increases Commercial Space Launch ascendant
Strategic Diversification Beyond “Two Baskets” - Further Expansion into Medical Devices, Industrial Applications - Continuing to drive growth in Commercial Space
Marketing and Product Development Initiatives Enhanced Marketing Significantly increased marketing budget with a new firm to drive market penetration and brand awareness across target industries. Digital Presence Implementing Search Engine Optimization (SEO) and visual changes to our website, complemented by comprehensive rebranding efforts. Product Innovation Additional R&D investments into new products specifically designed for medical, space, and industrial applications. Strategic Growth Exploring potential M&A activity to diversify not just our markets but our product mix as well.
Operational Improvements Inventory Management Rigorous tracking to ensure inventory aligns with sales while remaining as low as possible Pricing Strategy Aggressive price increases to offset inflationary pressures and improve margins Workforce Optimization Leaner labor force with improved efficiency and reduced overtime costs Cost Control Stabilized SG&A costs and more disciplined approach to material purchases and service fees
0 5000 10000 15000 20000 25000 30000 35000 40000 2019 2020 2021 2022 2023 2024 2025 (Projected) IEH Revenue Fiscal 2019 - 2024 (in thousands)
IEH Net Income 2019 - 2025* $(7,000,000.00) $(6,000,000.00) $(5,000,000.00) $(4,000,000.00) $(3,000,000.00) $(2,000,000.00) $(1,000,000.00) $- $1,000,000.00 $2,000,000.00 $3,000,000.00 $4,000,000.00 2019 2020 2021 2022 2023 2024 First 9 months of 2025 *First Nine Months of FY2025
0 2000 4000 6000 8000 10000 12000 14000 16000 2019 2020 2021 2022 2023 2024 2025 Cash as of April 1
IEHC Share Price 0 5 10 15 20 25 2019 2020 2021 2022 2023 2024 2025
IEH Revenue 0 2000 4000 6000 8000 10000 12000 14000 16000 2019 2020 2021 2022 2023 2024 2025 Cash IEHC April 1 Share Price 0 5 10 15 20 25 2019 2020 2021 2022 2023 2024 2025 0 10000 20000 30000 40000 2019 2020 2021 2022 2023 2024 2025… IEH Net Income 2019 - 2025* $(8,000,000.00) $(6,000,000.00) $(4,000,000.00) $(2,000,000.00) $- $2,000,000.00 $4,000,000.00 2019 2020 2021 2022 2023 2024 First 9 months of 2025
Recap…. - 15+ years of steady, year - over - year profitable, debt - free growth - 3 difficult years - Recovery fully underway Cash growing Markets improving Revenue increasing
Moving Forward… - Market Diversification and new Product Development - Leaner Operations, with Capacity to Grow - M&A - Greater Shareholder Engagement Join us for this next Stage in our Journey!
IEHCORP.COM Thank you! Dave Offerman President, CEO www.iehcorp.com