Innovative Solutions and Support, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023
August 09, 2023 at 05:17 pm EDT
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Innovative Solutions and Support, Inc. reported earnings results for the third quarter and nine months ended June 30, 2023. For the third quarter, the company reported revenue was USD 7.96 million compared to USD 6.94 million a year ago. Net income was USD 1.42 million compared to USD 1.36 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to USD 0.08 a year ago.
For the nine months, revenue was USD 21.82 million compared to USD 20.48 million a year ago. Net income was USD 3.39 million compared to USD 3.92 million a year ago. Basic earnings per share from continuing operations was USD 0.2 compared to USD 0.23 a year ago. Diluted earnings per share from continuing operations was USD 0.2 compared to USD 0.23 a year ago.
Innovative Solutions and Support Inc (IS&S) operates as a systems integrator that designs, develops, manufactures, sells and services air data equipment, engine display systems, standby equipment, primary flight guidance, autothrottles and cockpit display systems for retrofit applications and original equipment manufacturers (OEMs). IS&S supplies integrated Flight Management Systems (FMS), Flat Panel Display Systems (FPDS), FPDS with Autothrottle, air data equipment, Integrated Standby Units (ISU), ISU with Autothrottle and advanced Global Positioning System (GPS) receivers that enable reduced carbon footprint navigation, communication, and navigation products. IS&S offers solutions for the general aviation, commercial air transport, United States Department of Defense (DoD)/governmental and foreign military markets. The Company provides pilots with information to enhance both the safety and efficiency of flying, through its COCKPIT/IP Cockpit Information Portal (CIP) product line.