Innovative Solutions & Support, Inc. Announces Significant Increase in First Quarter Fiscal 2022 Revenues and Earnings
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Wednesday, February 9, 2022
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Innovative Solutions & Support, Inc. (IS&S or the Company) (NASDAQ: ISSC) today announced its financial results for the first quarter of fiscal year 2022, which ended December 31, 2021.
Key Points:
- Innovative Solutions & Support, Inc. (IS&S or the Company) (NASDAQ: ISSC) today announced its financial results for the first quarter of fiscal year 2022, which ended December 31, 2021.
- For the first quarter of fiscal 2022, the Company reported net sales of $6.7 million, up 38% as compared to $4.9 million in the first quarter a year ago.
- The Company reported a 372% increase in net income to $1.1 million, or $0.07 per share, compared the first quarter of fiscal 2021.
- New orders in the first quarter of fiscal 2022 were approximately $3.8 million and backlog as of December 31, 2021, was $6.2 million.