Innovative Solutions & Support - ISSC STOCK NEWS

Innovative Solutions & Support (ISSC) announced a production order from Boeing (BA) for its GPS Sensor Units for the T-7A Red Hawk trainer. Deliveries will start in July 2023 and continue throughout the U.S. Air Force program's lifespan. This marks ISSC's fourth OEM production contract, building on existing agreements with Pilatus Aircraft and Textron Aviation. The GPS/WAAS Beta-3 Receiver, crucial for the aircraft's navigation and safety features, meets FAA compliance standards and has undergone extensive testing. ISSC highlights its commitment to developing advanced products that align with evolving aerospace industry needs.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) has received unanimous support from leading proxy advisory firms ISS and Glass Lewis for its 2023 Annual Meeting agenda, set for April 13, 2023, at 10:00 AM EST. Shareholders are urged to submit their votes by April 12, 2023. A key proposal seeks to amend voting requirements from a super-majority to a simple majority, necessitating 65% approval from shares outstanding. Both advisory firms believe this change enhances corporate governance and facilitates shareholder interests. More details are available on ISSC's Investor Relations page.

Innovative Solutions & Support (ISSC) reported Q1 fiscal 2023 results, with net sales of $6.5 million, down from $6.7 million in Q1 fiscal 2022. The gross profit was $3.7 million, a decrease from $4.0 million, and net income fell to $0.7 million ($0.04 per share) from $1.1 million ($0.07 per share). Increased general and administrative expenses, notably from non-cash compensation and legal fees, contributed to this decline. Despite this, cash generated from operations rose to $2.2 million, and total cash on hand reached $19.4 million. The company's backlog improved to $8.5 million, bolstered by ongoing demand across all segments.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) will release its first-quarter fiscal 2023 results on February 14, 2023, after market close. A conference call will follow at 4:30 PM ET to discuss the results. Participants can join via phone or a live webcast. The replay will be available until February 28, 2023. Headquartered in Exton, Pennsylvania, ISSC designs and manufactures flight guidance systems for OEMs and retrofit applications, offering integrated Flight Management Systems and advanced GPS receivers.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) CEO Shahram Askarpour and CFO Mike Linacre will engage in a fireside chat at the Shareholder Equity Conference on January 23, 2023, at 11:00 am ET. This interactive session aims to provide retail investors with direct access to management for questions and insights.

The event will be webcast live, accessible here, with a replay available for one year post-event. ISSC specializes in flight guidance and cockpit display systems.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) announced that CEO Shahram Askarpour and CFO Mike Linacre will present at the Sidoti Micro-Cap Conference on January 18, 2023, at 10:00am EST. Investors can engage in one-on-one meetings by contacting their Sidoti sales representative. A live webcast of the presentation will be available, and a replay will be accessible for 90 days on the ISSC website. Founded in Exton, PA, ISSC specializes in flight guidance and cockpit display systems for OEMs and retrofit applications.

Innovative Solutions & Support (ISSC) has received Federal Aviation Administration (FAA) Supplemental Type Certification (STC) for its ThrustSense® Autothrottle on Beechcraft King Air 200 and 300 models equipped with G1000 and NXi flight decks. This certification allows ThrustSense to be installed on all certified glass cockpit systems for the King Air. ThrustSense enhances safety and reduces pilot workload by automatically controlling engine output. It is globally certified in 40 countries and is the first certified autothrottle for the King Air B200 and B300.

Innovative Solutions & Support (ISSC) reported fourth quarter fiscal 2022 results, showing net sales of $7.3 million, a 5.7% increase from $6.9 million the previous year. Net income rose 2.9% to $1.6 million, or $0.09 per share. For the full fiscal year, total sales reached $27.7 million, up 20.4%, with net income of $5.5 million, or $0.32 per share. The company’s cash on hand increased to $17.3 million, while new orders totaled approximately $6.5 million. Despite increased administrative expenses, the firm maintains strong financial flexibility with no debt.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) will announce its Q4 and fiscal year 2022 results on December 14, 2022, after market close. A conference call is set for the same day at 4:30 pm ET to discuss the results. Participants can join the call by dialing 1-877-451-6152 or 1-201-389-0879. A live webcast will also be available. A replay can be accessed after the call until December 28, 2022. The Company specializes in designing flight guidance systems for OEMs and retrofit applications.