Innovative Sol - ISSC STOCK NEWS

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.

Innovative Solutions and Support, Inc. (NASDAQ: ISSC) announced a stockholder rights plan to protect investor interests by distributing one preferred share purchase right for each common share. This plan aims to prevent any single entity from gaining control without a control premium, ensuring fair treatment of all stockholders. The rights become exercisable if a person acquires 15% or more of common stock, allowing them to purchase shares at a 50% discount. The rights expire 12 months after issuance, and the plan does not deter fair offers. Dividend distribution is scheduled for September 27, 2022.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) reported third-quarter results ending June 30, 2022, with net sales of $6.9 million, a 12% increase from the previous year. Net income fell to $1.4 million ($0.08 per share) from $2.7 million ($0.16 per share) due to a prior tax benefit. Operating income rose 41% to $1.7 million. The firm added experienced board members and a new CFO. For the nine months, sales increased 26.6% to $20.5 million, with net income of $3.9 million ($0.23 per share).

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) is set to release its third quarter 2022 results on August 10, 2022, after market close. A conference call will be held on August 11, 2022, at 10:00 AM ET to discuss these results. The call can be accessed via telephone at 1-844-739-3798 or online at the company’s Investor Relations page. Innovative Solutions & Support specializes in designing and manufacturing flight guidance and cockpit display systems, contributing to precision navigation with low carbon footprint.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) announces the retirement of Chief Financial Officer Relland M. Winand, effective July 15, 2022. Dr. Shahram Askarpour, the Company’s CEO, expressed excitement over the appointment of Michael Linacre as the new CFO, highlighting his extensive accounting expertise. Winand, who served since December 2014, was recognized for his significant contributions to the company’s success. Linacre's prior experience includes CFO roles at Sysco Albany and Crisafulli Bros., showcasing a strong financial background.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) has appointed Ms. Parizad Olver to its Board of Directors. With a strong background in aviation finance and special mission operations, Ms. Olver's experience is expected to benefit the company. She is the Founder of Panorama Aero and has held leadership roles at Cowen Inc. and Fortress Investment Group. CEO Shahram Askarpour expressed excitement about her joining the board, emphasizing the added strength her expertise brings to ISSC.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) announces the appointment of Stephen L. Belland as a Director. With over 37 years of experience in the Aerospace and Defense industry, his expertise is expected to strengthen the Board. Belland's previous roles include various executive positions at Rockwell Collins, which adds valuable insights about ISSC's operations. This leadership change is anticipated to enhance the company's strategic direction and operational efficiency.

Innovative Solutions & Support (ISSC) reported a 34% increase in net sales for Q2 FY2022, totaling $6.8 million, up from $5.1 million a year prior. Net income surged by 135% to $1.4 million, or $0.08 per share, reflecting successful long-term contracts and a strong order backlog. Cash reserves rose to $11.6 million, while operating cash flow was $1.9 million. For the first six months, total sales reached $13.5 million compared to $10 million last year, with net income of $2.6 million, or $0.15 per share.