IS&S Q2 fiscal 2024 sales up 46% to $10.7M; net income $0.07 per share

INNOVATIVE SOLUTIONS & SUPPORT INC

2024-Q2 EPS reported $0.13 revenue$20,047,579

Net sales $10.7M, up 46% from $7.3M; net income $1.2M ($0.07 EPS) vs $1.3M ($0.07) prior year.
Includes ~$500K amortization and one-time costs from Honeywell acquisition; profitability rose excluding those items.
First-half operating cash flow $4.4M positive despite integration costs; new orders $6.6M and backlog $10.4M.
Backlog excludes long-term OEM programs (Pilatus PC-24, Textron King Air, Boeing T-7, KC-46A).
CEO cited double-digit sales momentum; welcomed new CFO Jeff DiGiovanni.

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 0.95

INNOVATIVE SOLUTIONS & SUPPORT INC reported second quarter of fiscal 2024 quarter ended March 31, 2024 results: revenue $10.7 million, net income $1.2 million, EPS $0.07 per share.

Period: second quarter of fiscal 2024 quarter ended March 31, 2024
Revenue: $10.7 million
Net income: $1.2 million
EPS: $0.07 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 second quarter of fiscal 2024, which ended March 31, 2024. For the second quarter of fiscal 2024, IS&S reported net sales of $10.7 million, up 46% from $7.3 million in the second quarter a year ago. The Company reported net income of $1.2 million, or $0.07 per share, compared to net income of $1.3 million, or $0.07 per share, in the second quarter of fiscal 2023.

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Source: SEC EDGAR

accession 0001104659-24-061118

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