IS&S Q3 net sales up 14.8% to $8.0M; Honeywell license acquisition to boost revenue 40% annually

INNOVATIVE SOLUTIONS & SUPPORT INC

2023-Q3 EPS reported $0.19 revenue$21,815,917

Net sales $8.0M (+14.8% YoY); gross profit $4.7M (59.5% of sales); net income $1.4M ($0.08 per share) flat YoY.
Completed exclusive license and asset acquisition of Honeywell product lines June 30, 2023; expects 40% revenue boost, ~75% EBITDA increase integrated in 2024.
Secured $20M term loan to strengthen financial position; cash on hand $2.6M after acquisition funding.
Backlog $13.8M vs $12.6M a year ago; new orders $6.9M in Q3.
Generated $6.4M cash from operations in first nine months of fiscal 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INNOVATIVE SOLUTIONS & SUPPORT INC reported third quarter of fiscal year 2023, which ended June 30, 2023 results: revenue $8.0 million, net income $1.4 million, EPS $0.08 per share.

Period: third quarter of fiscal year 2023, which ended June 30, 2023
Revenue: $8.0 million
Net income: $1.4 million
EPS: $0.08 per share
Result: reported results

Exact text from the filing

Innovative Solutions & Support, Inc. (“IS&S” or the “Company”) (NASDAQ: ISSC) today announced its financial results for the third quarter of fiscal year 2023, which ended June 30, 2023. For the third quarter of fiscal 2023, net sales increased 14.8% to $8.0 million compared to $6.9 million in the third quarter a year ago.

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Source: SEC EDGAR

accession 0001104659-23-090434

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