IEHC · IEH Corporation

The disclosure reveals significant positive developments across multiple fronts for IEH Corporation. The company's record backlog of over $29 million, which has more than doubled in 12 months, provides visibility into revenue conversion over the next 12-18 months and supports a growth pipeline for 3-5 years. This backlog strength is driven by structural defense spending trends, with recent program wins including a $5.1 million PATRIOT Missile System order (the largest single order in decades), $2.4 million APKWS order, and multiple other defense contracts totaling millions of dollars. Revenue recovery appears to be accelerating, with FY2026 projected at $29.4 million (third best year in company history) and FY2027 projected at $36 million. The company has successfully cleared regulatory hurdles with the SEC matter dismissed in January 2026 and OTCQX listing reinstated in February 2026, enhancing investor visibility. Management is implementing strategic responses to cost headwinds including gold price increases, tariffs, and health insurance costs through vertical integration investments, larger gold volume purchases, and tighter cost controls. The company is also pursuing diversification beyond defense and aerospace into medical devices and commercial space markets, while actively exploring M&A opportunities to accelerate growth. The combination of record backlog, defense program momentum, regulatory clearance, and strategic initiatives positions the company for continued recovery and growth.