ISSC Q2 net sales $22.4M (+2%), net income $3.4M, completes three acquisitions

INNOVATIVE SOLUTIONS & SUPPORT INC

Net sales of $22.4M, up 2% YoY; gross profit $11.4M (51.1% margin).
Net income $3.4M ($0.19 diluted EPS); Adjusted net income $4.8M ($0.26 diluted EPS).
EBITDA $5.9M; Adjusted EBITDA $6.8M; operating cash flow $2.3M (+78% YoY).
Completed three acquisitions during the quarter; Net debt to TTM Adj. EBITDA ratio 1.7x.

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