IEC Electronics (IEC Electronics) Inventory Turnover : 0.82 (As of Jun. 2021)

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What is IEC Electronics Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. IEC Electronics's Cost of Goods Sold for the three months ended in Jun. 2021 was $44.1 Mil. IEC Electronics's Average Total Inventories for the quarter that ended in Jun. 2021 was $54.0 Mil. IEC Electronics's Inventory Turnover for the quarter that ended in Jun. 2021 was 0.82.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. IEC Electronics's Days Inventory for the three months ended in Jun. 2021 was 111.63.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. IEC Electronics's Inventory-to-Revenue for the quarter that ended in Jun. 2021 was 1.09.

IEC Electronics Inventory Turnover Historical Data

The historical data trend for IEC Electronics's Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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IEC Electronics Inventory Turnover Chart

IEC Electronics Annual Data

Trend

Sep11

Sep12

Sep13

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Inventory Turnover

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5.19

5.50

4.13

3.45

3.32

IEC Electronics Quarterly Data
	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21
Inventory Turnover	Get a 7-Day Free Trial															0.89	0.81	0.78	0.77	0.82

IEC Electronics Inventory Turnover Calculation

IEC Electronics's Inventory Turnover for the fiscal year that ended in Sep. 2020 is calculated as

	Inventory Turnover (A: Sep. 2020 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Sep. 2020 )	/ (	(Total Inventories (A: Sep. 2019 )	+	Total Inventories (A: Sep. 2020 ))	/	count )
=	158.594	/ (	(44.267	+	51.374)	/	2 )
=	158.594	/	47.8205
=	3.32

IEC Electronics's Inventory Turnover for the quarter that ended in Jun. 2021 is calculated as

	Inventory Turnover (Q: Jun. 2021 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Jun. 2021 )	/ (	(Total Inventories (Q: Mar. 2021 )	+	Total Inventories (Q: Jun. 2021 ))	/	count )
=	44.135	/ (	(54.075	+	53.906)	/	2 )
=	44.135	/	53.9905
=	0.82

IEC Electronics (NAS:IEC) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

IEC Electronics's Days Inventory for the three months ended in Jun. 2021 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Jun. 2021 )	/	Cost of Goods Sold (Q: Jun. 2021 )	*	Days in Period
	=	53.9905	/	44.135	*	365 / 4
	=	111.63

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

IEC Electronics's Inventory to Revenue for the quarter that ended in Jun. 2021 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Jun. 2021 )	/	Revenue (Q: Jun. 2021 )
	=	53.9905	/	49.37
	=	1.09

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

IEC Electronics Inventory Turnover Related Terms

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IEC Electronics (IEC Electronics) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » IEC Electronics Corp (NAS:IEC) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

105 Norton Street, Newark, NY, USA, 14513

Website

https://www.iec-electronics.com

IEC Electronics Corp operates in an electronics contract manufacturing services (EMS) industry. It provides electronic manufacturing services to advanced technology companies primarily in the medical, industrial, aerospace and defense sectors. Its offerings include on-site analytical testing laboratories, custom design, and test engineering services. The firm also offers a broad array of manufacturing services encompassing electronics, interconnect solutions and precision metalworking. The majority of its revenue is derived from the sale of electronic products.

Executives

Jeremy R Nowak	director	C/O API TECHNOLOGIES CORP ONE NORTH WACKER DRIVE SUITE 4400 CHICAGO IL 60606
Charles P Hadeed	director	35 VANTAGE POINT DRIVE, ROCHESTER NY 14624
Jeffrey T Schlarbaum	director, officer: President and CEO	105 NORTON STREET, NEWARK NY 14513
Michael W Osborne	director	105 NORTON STREET NEWARK NY 14513
Andrew M Laurence	director	C/O API TECHNOLOGIES CORP., ONE NORTH WACKER DRIVE SUITE 4400, CHICAGO IL 60606
Keith M Butler	director	105 NORTON STREET NEWARK NY 14513
Thomas L Barbato	officer: CFO	105 NORTON STREET, NEWARK NY 14513
Lynn J Hartrick	director	105 NORTON STREET NEWARK NY 14513
Michael Thomas Williams	officer: VP, Finance and CFO	54 BARCHAN DUNE RISE VICTOR NY 14564
Jens Hauvn	officer: SVP, Operations	C/O IEC ELECTRONICS CORP. 105 NORTON STREET NEWARK NY 14513
Eric Singer	director	323 SUNNY ISLES BLVD., SUITE 700, SUNNY ISLES BEACH FL 33160
W Barry Gilbert	officer: CEO & Chairman of the Board	C/O IEC ELECTRONICS CORP. NEWARK NY 14513
Brett Eugene Mancini	officer: VP Bus Devel & Eng Serv	12 SANDPIPER LANE PITTSFORD NY 14534
John Carlton Johnson	director	24450 MEADOW ROAD PO BOX 1093 CLARK CO 80428
Florence Distefano Hudson	director	1 WINSOR PLACE PURCHASE NY 10577