Welcome to our dedicated page for Innovative Solutions & Support news (Ticker: ISSC), a resource for investors and traders seeking the latest updates and insights on Innovative Solutions & Support stock.
Innovative Solutions & Support, Inc., doing business as Innovative Aerosystems, reports developments in advanced avionics engineering, manufacturing and supply for commercial, business aviation and military markets. Its updates regularly cover financial results, conference calls, airframe manufacturer and aftermarket demand, and product areas such as flight management systems, flat-panel cockpit displays, standby units, air data instrumentation, autothrottles, flight control computers, mission computers and navigation systems.
Company news also includes completed product-line and license acquisitions that expand its integrated cockpit, autopilot, electrical power generation and sustainment capabilities. Recent releases describe support for fixed-wing and rotorcraft applications, general aviation product lines, Boeing 767, KC-46 and F-15 power-generator platforms, and lifecycle support for OEM and aftermarket customers.
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.
Innovative Solutions & Support, Inc. (NASDAQ: ISSC) will announce its second quarter 2022 results on May 11, 2022, after market hours. A conference call to discuss these results is scheduled for May 12, 2022, at 10:00 AM ET. Investors can register by calling 1-877-270-2148, and the call will be available for 30 days on the company's Investor Relations page. ISSC specializes in systems integration, creating flight guidance and cockpit display systems for OEMs and retrofit applications.
Innovative Solutions & Support, Inc. (NASDAQ: ISSC) has appointed Winston J. Churchill as the new independent Chairman of the Board. Having served on the Board since 1990, Churchill brings extensive financial and governance expertise. CEO Shahram Askarpour expressed enthusiasm for Churchill's leadership, citing his invaluable contributions to the company and its growth. Innovative Solutions & Support specializes in designing flight guidance systems, contributing to low-carbon navigation solutions.
Innovative Solutions & Support, Inc. (ISSC) reported significant financial growth in Q1 FY2022, with net sales rising by 38% to $6.7 million and net income soaring 372% to $1.1 million or $0.07 per share. The company promoted Dr. Shahram Askarpour to CEO following the passing of founder Geoff Hedrick. Cash flow from operations increased, with cash on hand at $9.7 million. New orders totaled $3.8 million, and backlog rose to $6.2 million, setting a positive outlook for future production sales.
Innovative Solutions & Support, Inc. (NASDAQ: ISSC) will release its first quarter 2022 financial results on February 9, 2022, after market close. A conference call to discuss these results is scheduled for February 10, 2022, at 10:00 AM Eastern time. Investors can join the call by registering at 1-877-270-2148 or by accessing it live on the company's Investor Relations page. The availability of a replay for 30 days will also be provided.
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.