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Innovative Solutions & Support (ISSC) is at the forefront of designing and manufacturing advanced avionics systems tailored for the commercial air transport, military, and business aviation markets. Our innovative technological solutions are crafted to enhance situational awareness, reduce pilot workload, and improve flight safety, thereby offering substantial benefits to the aviation industry.
Our extensive product portfolio includes Flat Panel Display Systems, Flight Information Computers, Engine and Fuel Instrumentation, Class 3 E-Charts, and RVSM solutions. Each product is meticulously developed to meet the high standards of the aviation sector, ensuring reliability and efficiency.
We take pride in delivering integrated systems such as Flight Management Systems, Integrated Standby Units, and Advanced Global Positioning System receivers. These systems not only elevate the operational capacity of aircraft but also contribute to more sustainable aviation practices by enabling reduced carbon footprint navigation.
One of our key innovations is the Autothrottle system, designed to automate engine power settings, thereby minimizing pilot workload and enhancing flight safety. This system is particularly beneficial in high-demand flight scenarios, ensuring precision and reliability.
Our products serve both the OEM (Original Equipment Manufacturer) and retrofit markets. This dual approach allows us to cater to new aircraft constructions and upgrading existing fleets, ensuring broad applicability and market reach.
Recent achievements and current projects showcase our commitment to pushing the boundaries of aviation technology. Our continuous efforts in research and development are aimed at addressing the evolving needs of the aviation industry, maintaining our position as a trusted provider of high-quality avionics.
Financially, Innovative Solutions & Support remains robust, driven by steady demand for our products and services. Our strategic partnerships and consistent product innovations underscore our capability to thrive in a competitive market landscape.
Innovative Solutions & Support (ISSC) reported strong Q1 2025 financial results with net revenue of $16.0 million, up 71.6% year-over-year. The growth was primarily driven by the recently acquired Honeywell military product line and organic growth in legacy operations.
Key financial metrics include gross profit of $6.6 million (41.4% margin), net income of $0.7 million ($0.04 per diluted share), and Adjusted EBITDA of $3.1 million (+24%). Military revenue increased significantly to $8.0 million, up from $2.0 million in the prior year, and is expected to represent over 40% of total revenue in 2025.
The company is expanding production capacity at its Exton facility by more than three-fold by mid-2025. While Q1 profitability was impacted by $0.7 million in integration costs, management expects revenue and EBITDA growth of over 30% in fiscal year 2025. The company maintains a strong financial position with $9.0 million in available liquidity.
Innovative Solutions & Support (ISSC) has announced its upcoming first quarter 2025 financial results conference call and webcast, scheduled for Thursday, February 13, 2025, after market close. The conference call will begin at 5:00 p.m. ET, featuring a discussion of financial results, recent events, and a Q&A session.
Investors can access the webcast and presentation materials through the company's Investor Relations website. For those preferring telephone access, domestic participants can dial 1-844-739-3798, while international callers should use 1-412-317-5714. A replay will be available until February 27, 2025, accessible via domestic (1-844-512-2921) and international (1-412-317-6671) numbers using Conference ID: 10196139.
Innovative Solutions & Support (NASDAQ: ISSC) has appointed Denise L. Devine as an independent director to its Board of Directors, expanding it to six members. Devine, who will also serve on the Audit Committee, brings significant expertise as the CEO of FNB Holdings and Nutripharm, Inc.
Devine's background includes serving as CFO for Energy Solutions International and holding financial management positions at Campbell Soup Company. She currently serves on the Board of Fulton Financial (NASDAQ:FULT). A certified public accountant, she has chaired the Pennsylvania State Board of Accountancy and served on the Board of the American Institute of CPAs.
The appointment aligns with IS&S's strategy to enhance board expertise in overseeing the company's growth in advanced avionic solutions, including next-generation navigation systems, flight deck displays, and autonomous flight technology.
Innovative Solutions & Support (ISSC) reported strong financial results for Q4 and FY2024. Q4 highlights include net revenue of $15.4 million (+18.4% YoY), gross profit of $8.5 million with 55.4% margin, and net income of $3.2 million ($0.18 per share). FY2024 saw net revenue reach $47.2 million (+35.6% YoY), with net income of $7.0 million ($0.40 per share).
The company successfully integrated platforms acquired from Honeywell, advancing its autonomous flights initiative. New orders in Q4 2024 totaled $95.4 million, including $74.3 million from a recent acquisition. The company plans to launch its next-generation UMS2 system in 2025, featuring AI capabilities and neural network integration for enhanced cockpit automation.
Innovative Solutions & Support (ISSC) has scheduled its fourth quarter 2024 financial results announcement for Thursday, December 19, 2024, after market close. The company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss results and conduct a Q&A session.
The webcast and presentation materials will be accessible through the company's Investor Relations website. Participants can join via teleconference using domestic (1-844-739-3798) or international (1-412-317-5714) dial-in numbers. A replay will be available until January 2, 2025, using domestic (1-844-512-2921) or international (1-412-317-6671) numbers with Conference ID: 10194980.
Innovative Solutions & Support's (NASDAQ: ISSC) ThrustSense® Autothrottle system has been chosen by the US Army for their C-12 (B200) aircraft with ProLine 21 avionics. The system provides full flight envelope protection and automatic engine power control, enhancing safety and efficiency. With a September 2024 contract award, deliveries will begin immediately.
ThrustSense reduces pilot workload, maintains optimal speeds, and protects against critical flight conditions. It's controlled by an Integrated Standby Unit (ISU), requiring minimal aircraft modifications. The system is globally certified for Beechcraft King Air B200 and B300 aircraft, standard on King Air 260 and 360 models, and available for Pilatus PC-12 platforms.
Innovative Solutions & Support, Inc. (NASDAQ: ISSC) has acquired the license for Honeywell's military Display Generators and Flight Control Computers product line. The deal includes an exclusive license to manufacture, upgrade, and repair the products, along with exclusive intellectual property rights and inventory transfer. This acquisition significantly expands IS&S's capabilities in the military aviation sector.
CEO Shahram Askarpour stated that this agreement builds on recent successful transactions with Honeywell and will enhance IS&S's brand growth and position in the global military aviation market. CFO Jeff DiGiovanni noted that the company has increased its bank credit facility with PNC Bank, maintaining a strong financial position to support ongoing operations and pursue growth objectives, including organic growth and strategic acquisitions.
Innovative Solutions & Support (NASDAQ: ISSC) has received FAA approval for a Digital Engine-Indicating and Crew-Alerting System (EICAS) to enhance its B757/B767 Flat Panel Display System (FPDS). The upgrade offers several benefits:
- Simplifies the flight deck
- Resolves CRT obsolescence issues
- Reduces weight by 40 pounds
- Improves fuel savings and power consumption
- Easy installation with minimal downtime
The new EICAS Display System includes a 10.4-inch LCD and two scan converter modules. It provides current CRT EICAS information with additional display space for customized warning annunciations. The IS&S FPDS retrofit has been installed on over 500 aircraft, accumulating 38 million flight hours, and offers significant improvements in performance, situational awareness, and safety.
Innovative Solutions & Support (ISSC) reported strong financial results for Q3 2024:
- Net revenue increased 47.8% to $11.8 million
- Gross profit rose 32.6% to $6.3 million
- Net income reached $1.6 million ($0.09 per diluted share)
- Adjusted EBITDA grew 61% to $3.1 million
- Year-to-date free cash flow improved to $4.8 million
The company benefited from strong execution under previously acquired Honeywell product lines and reduced net leverage from 2.9x to 0.8x since the acquisition. ISSC's management expressed confidence in their growth initiatives and positioning for fiscal 2025, citing favorable demand across general aviation, commercial air transport, and military verticals.
Innovative Solutions & Support (NASDAQ: ISSC) has secured a multi-million-dollar contract to supply its 19" Multifunction Display (MFD) with an Integrated Mission Computer for a Commercial Derivative platform used by several Foreign Militaries. The versatile display features a multi-touchscreen interface and can perform various functions, including data integration, primary flight/navigation information display, and mission planning. IS&S has integrated the Display Unit and Mission Computer into a single unit, simplifying installation.
CEO Shahram Askarpour emphasized the company's commitment to developing advanced products that enhance mission capability and performance. This contract builds on existing OEM programs with Pilatus Aircraft, Textron Aviation, and The Boeing Company for various aircraft models.
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