Innovative Solutions & Support (NASDAQ: ISSC) reported Q3 EPS of $0.07, versus $0.03 reported last year. Revenue for the quarter came in at $6 million, versus $4.6 million reported last year.

Geoffrey Hedrick, Chairman and Chief Executive Officer of IS&S, said, “The necessary and prudent actions we implemented early on to reduce the impact of the pandemic have once again led to a strong performance. Revenues increased 30% in the third quarter as compared to the prior quarter, and we generated our best quarterly operating income in thirteen quarters and our best nine months operating income in four years. We signed an OEM contract to supply Textron with our ThrustSense® Auto-throttle with LifeGuard™ Protection as standard equipment on all their new King Air 360 turboprops. Textron will also offer Auto-throttle with LifeGuard™ Protection for retrofit at all of its service centers to the thousands of King Airs currently in use. Our financial performance over the last few quarters, as well as the expanding number of new OEM platforms on which IS&S is standard equipment, are strong indicators of the value of our innovative technology. We believe our increased market presence will lead to more profitable growth opportunities and continue to build shareholder value.”

For earnings history and earnings-related data on Innovative Solutions & Support (ISSC) click here.