ISSC Q3 fiscal 2022 sales $6.9M (+12%), operating income up 41%; backlog $12.6M

INNOVATIVE SOLUTIONS & SUPPORT INC

2022-Q3 EPS reported $0.23 revenue$20,477,574

Net sales $6.9M (+12% YoY); net income $1.4M ($0.08/sh) vs $2.7M ($0.16/sh) last year which included $1.5M tax benefit.
Operating income rose 41% to $1.7M; nine-month operating income up 138% to $4.9M.
Cash on hand $14.5M, up from $8.3M at fiscal year end; net cash from ops $6.4M YTD.
New orders $12M in Q3; backlog $12.6M, up from $7.5M at March 31, 2022.
Appointed new CFO Michael Linacre and added two board members with aviation experience.

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