Innovative Solutions & Support (ISSC) Reports Q2 EPS of $0.04, Revenues Miss
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Innovative Solutions & Support (NASDAQ: ISSC) reported Q2 EPS of $0.04, versus $0.03 reported last year. Revenue for the quarter came in at $5.1 million versus the consensus estimate of $6.29 million.
Geoffrey Hedrick, Chairman and Chief Executive Officer of IS&S, said, “Over the past three months we grew revenues, generated positive cash flow and reported another profitable quarter, achieving the ongoing objectives that we believe increase the value of Innovative Solutions. Results in the second quarter were once again driven by our strategy to increasingly diversify our end markets, targeting both OEM production programs as well as retrofit opportunities in the commercial air transport, military, and general aviation markets. Sales of our ThrustSense® AutoThrottle continue to grow. The growing air cargo market is creating opportunities for our Boeing 757 and 767 Flat Panel Display Systems as evidenced by orders received from Amazon. Additionally, we have announced a new lower cost AutoThrottle that we believe enhances our offering in an expanding market. As the pandemic recedes, we remain confident that over the longer term the capabilities and price-for-performance characteristics of our technology will strengthen our brand globally.”
For earnings history and earnings-related data on Innovative Solutions & Support (ISSC) click here.
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