Innovative Solutions and Support, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2023
May 08, 2023 at 04:50 pm EDT
Share
Innovative Solutions and Support, Inc. reported earnings results for the second quarter and six months ended March 31, 2023. For the second quarter, the company reported revenue was USD 7.34 million compared to USD 6.85 million a year ago. Net income was USD 1.27 million compared to USD 1.43 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to USD 0.08 a year ago.
For the six months, revenue was USD 13.86 million compared to USD 13.54 million a year ago. Net income was USD 1.97 million compared to USD 2.56 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to USD 0.15 a year ago. Diluted earnings per share from continuing operations was USD 0.11 compared to USD 0.15 a year ago.
Innovative Solutions and Support Inc (IS&S) operates as a systems integrator that designs, develops, manufactures, sells and services air data equipment, engine display systems, standby equipment, primary flight guidance, autothrottles and cockpit display systems for retrofit applications and original equipment manufacturers (OEMs). IS&S supplies integrated Flight Management Systems (FMS), Flat Panel Display Systems (FPDS), FPDS with Autothrottle, air data equipment, Integrated Standby Units (ISU), ISU with Autothrottle and advanced Global Positioning System (GPS) receivers that enable reduced carbon footprint navigation, communication, and navigation products. IS&S offers solutions for the general aviation, commercial air transport, United States Department of Defense (DoD)/governmental and foreign military markets. The Company provides pilots with information to enhance both the safety and efficiency of flying, through its COCKPIT/IP Cockpit Information Portal (CIP) product line.