IS&S Q2 FY2023 sales up 7.2% to $7.3M; net income $0.07 per share

INNOVATIVE SOLUTIONS & SUPPORT INC

2023-Q2 EPS reported $0.11 revenue$13,856,709

Net sales $7.3M (+7.2% YoY); gross margin 64.6% vs 61.1%.
Net income $1.3M ($0.07 EPS) vs $1.4M ($0.08) a year ago; higher G&A and R&D offset revenue growth.
Backlog rose to $14.8M (vs $7.5M prior year); new orders of $13.6M in Q2.
Cash $19.8M, no debt; Articles of Incorporation updated to enable inorganic growth.
CEO: strong aftermarket demand; expects higher production utilization to boost margins.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INNOVATIVE SOLUTIONS & SUPPORT INC reported fiscal second quarter ended March 31, 2023 results: revenue $7.3 million, net income $1.3 million, EPS $0.07 per share.

Period: fiscal second quarter ended March 31, 2023
Revenue: $7.3 million
Net income: $1.3 million
EPS: $0.07 per share
Result: reported results

Exact text from the filing

For the second quarter of fiscal 2023, net sales increased 7.2% to $7.3 million compared to $6.8 million in the second quarter a year ago. Gross profit in the second quarter of 2023 was $4.7 million, or 64.6% of sales, compared to $4.2 million, or 61.1% of sales in the second quarter of 2022. The Company reported net income of $1.3 million, or $0.07 per share in the second quarter, compared to $1.4 million, or $0.08 per share in the second quarter of fiscal 2022.

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Source: SEC EDGAR

accession 0001104659-23-057211

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