Innovative Solutions & Support - ISSC STOCK NEWS

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) announces the appointment of Dr. Shahram Askarpour as CEO, succeeding the late Geoffrey S. M. Hedrick. Dr. Askarpour, with 40 years of aerospace experience, has been with the company since 2003 and was previously the President. He emphasizes the strong management team established by Hedrick to ensure continuity. The company designs and manufactures flight guidance and cockpit display systems. This leadership change is expected to provide stability and continued strategic direction for ISSC.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) announced the passing of its founder and CEO, Geoffrey S. M. Hedrick, due to complications from a sudden illness. The company, headquartered in Exton, PA, mourns the loss of a key leader who contributed significantly to the avionics industry and held nearly 100 patents. Glen R. Bressner, Vice Chairman of the Board, expressed condolences to Mr. Hedrick's family, highlighting his creativity and leadership. The company designs and manufactures advanced flight guidance systems for OEMs and retrofit applications.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) reported a strong financial performance for Q4 and FY 2021, with net sales of $6.9 million, a 9% increase from $6.3 million in Q4 2020. Net income rose 23% to $1.5 million or $0.09 per share. For the full year, sales reached $23.0 million, up 6.7% from $21.6 million, with net income of $5.1 million ($0.29/share). The company achieved significant financial health, with cash on hand of $8.3 million and no debt. EASA and TCCA certifications for ThrustSense® technology expanded their market reach, supporting future growth.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) is set to release its fourth quarter 2021 results on December 8, 2021, after market closure. A conference call to discuss these results will follow on December 9, 2021, at 10:00 AM Eastern time. Investors can participate by calling 1-877-270-2148 and the call will also be streamed live on the Company's Investor Relations page. The company specializes in flight guidance and cockpit display systems for OEMs and retrofit applications.

Innovative Solutions & Support (NASDAQ: ISSC) has commenced orders for its ThrustSense® Autothrottle system, featuring LifeGuard™ Protection, for King Airs and CJ series aircraft. Immediate deliveries are available for King Airs, while those with Pro Line 21, Pro Line Fusion, and Garmin avionics will see deliveries in early 2022. This full regime autothrottle system enhances safety by managing engine power during all flight phases, reducing pilot workload and eliminating risks associated with low-and-slow challenges. The system is standard for King Air® 260 and 360 models and retrofit-capable for others.

Innovative Solutions & Support, Inc. (ISSC) has received Supplemental Type Certification (STC) from the European Union Aviation Safety Agency (EASA) and Transport Canada Civil Aviation (TCCA) for its ThrustSense® Full Regime Autothrottle system for King Air aircraft. This certification opens doors for acceptance in over 40 countries, complementing existing approvals from places like Australia, Brazil, and China. The ThrustSense system enhances pilot safety and reduces workload during critical flight phases, with unique features such as LifeGuard™ Protection.

Innovative Solutions & Support (NASDAQ: ISSC) announced a rescheduled quarterly conference call on August 12, 2021, now starting at 11:00 AM EDT. Participants can register by calling 1-877-270-2148 without a conference ID. The call will also be streamed live on the company’s Investor Relations page and available for 30 days afterward. The company specializes in designing and manufacturing flight guidance systems and integrated solutions for OEMs, focusing on low carbon footprint navigation.

Innovative Solutions & Support, Inc. (NASDAQ: ISSC) reported a 3% increase in net sales to $6.2 million for Q3 fiscal 2021, alongside a net income of $2.7 million, or $0.16 per share. The results included a $1.5 million tax benefit, marking a 108% rise year-over-year. With cash on hand at $7.5 million and operating cash flows of $1.5 million, the company remains debt-free and has distributed nearly $20 million to shareholders since September 2020. New orders totaled approximately $9.0 million, with a backlog of $9.5 million, a 40% increase from the previous quarter.

Innovative Solutions & Support (NASDAQ: ISSC) will announce its Q3 2021 results on August 11, 2021, after market close. The following day, a conference call at 10:00 AM ET will discuss these results. Investors can register for the call by dialing 1-877-270-2148. The call will also be available live on their Investor Relations website and for 30 days afterward. Innovative Solutions is a systems integrator specializing in flight guidance and cockpit display systems for OEMs and retrofit applications, focusing on low carbon footprint navigation solutions.