Innovative Solutions & Support (ISSC) Misses Q2 EPS by 2c

Innovative Solutions & Support (NASDAQ: ISSC) reported Q2 EPS of $0.03, $0.02 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $4.84 million, versus $4.2 million reported last year.

Geoffrey Hedrick, Chairman and Chief Executive Officer of IS&S, said, “We have not escaped the threat of the coronavirus pandemic, but have taken immediate remedial actions to minimize its impact to our business. We have taken aggressive steps to protect the health and well-being of our employees, their families, our customers and our other partners. As a result, we have been able to safely keep our operation open and, as an essential service, continue to meet our obligation to fill our customers’ orders.

“In fact, the March quarter was our strongest quarter in four years, with growth in revenues, new orders, backlog and cash flow. In addition, we expect to begin shipping a new OEM AutoThrottle order before the end of this fiscal year. While this pandemic and the evolving containment and relief measures that accompany it make it particularly difficult to forecast future sales, we are confident that the progress we have achieved has us well-positioned to prosper over the long-term.”

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

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