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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 (Nasdaq: ISSC) has announced its third quarter 2024 results conference call and webcast, scheduled for Friday, August 9, 2024. The company will release its financial results before the market opens, followed by a conference call at 9:00 a.m. ET. Investors can access the webcast and presentation materials through the company's Investor Relations website. For those participating via teleconference, dial-in numbers are provided for both domestic and international callers. A replay of the teleconference will be available until August 23, 2024.
Innovative Solutions & Support (Nasdaq: ISSC) has announced an exclusive license agreement and asset acquisition for additional Communication and Navigation product lines from Honeywell International. This deal complements a previous transaction completed in June 2023. IS&S will gain exclusive rights to manufacture, upgrade, and repair these Honeywell products, along with existing inventory.
CEO Shahram Askarpour stated that this acquisition aligns with their growth strategy and will strengthen their offerings in air transport, business aviation, and military markets. CFO Jeff DiGiovanni emphasized that the new product lines are complementary to their existing portfolio and consistent with their acquisition strategy. The company maintains a strong financial profile with ample liquidity to support operations and pursue further growth opportunities, including potential acquisitions.
Innovative Solutions & Support (ISSC) responded to an unsolicited, non-binding indication of interest from Christopher Harborne to acquire all ISSC shares at $7.25 each.
However, the ISSC Board unanimously determined that the offer undervalues the company, lacks certainty, and is not in the best interests of stakeholders.
The Board expressed confidence in the senior management's ability to achieve long-term strategic goals, aiming to generate superior value for shareholders and stakeholders.
Innovative Solutions & Support (NASDAQ: ISSC) has acknowledged an unsolicited, non-binding indication of interest from Christopher Harborne to acquire all ISSC shares not already owned by him at $7.25 per share in cash. This proposal is subject to several conditions including negotiation, due diligence, definitive agreements, and regulatory approvals. The Board of Directors will review the proposal with financial and legal advisors to determine the best course of action for stakeholders. Shareholders do not need to take any action currently. ISSC, based in Exton, Pa., designs and manufactures flight guidance and cockpit display systems.
Innovative Solutions & Support (NASDAQ: ISSC) announced its participation in the Singular Research Spring Select Conference on May 22, 2024.
Jeff DiGiovanni, CFO, will present at 3:00PM PDT (6:00PM EDT), and the presentation will be broadcast live.
Mr. DiGiovanni will be available for one-on-one meetings during the conference.
Interested parties can register for the event or schedule meetings through the provided registration link.
Innovative Solutions & Support (ISSC), a NASDAQ-listed company, has appointed Major General Garry Dean as an independent director on its Board of Directors. Dean, a retired National Guard Bureau Joint Staff Director with over 4,000 flight hours in the T-37, T-38, and F-15 airframes, will stand for election at the next annual shareholders' meeting. His extensive military aviation and government relations expertise is expected to reinforce the board's strategic oversight capabilities. The Board of Directors now includes five members. ISSC specializes in flight guidance and cockpit display systems for OEMs and retrofit applications, providing advanced navigation solutions.
Innovative Solutions & Support, Inc. announced its financial results for the second quarter of fiscal 2024, reporting net sales of $10.7 million, a 46% increase compared to the same period last year. Net income was $1.2 million, with earnings per share of $0.07. The growth was driven by product lines acquired from Honeywell International, Inc. New orders were $6.6 million, and backlog stood at $10.4 million. The Company remains focused on organic growth, new product development, and acquisitions.
Innovative Solutions & Support, Inc. will participate in the Sidoti Virtual MicroCap Investor Conference on May 8, 2024. The Company's presentation will be broadcast live at 1:00PM. Management will also be available for one-on-one meetings during the conference. Registration is free and open to all.
Innovative Solutions & Support, Inc. (ISSC) announced the date for the release of its second-quarter fiscal 2024 financial results on May 13, 2024. The company will host a conference call and webcast to discuss the results later that day.
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