EXTON, Pa.--(BUSINESS WIRE)--Innovative Solutions & Support, Inc. (“IS&S”) (NASDAQ: ISSC) today issued a reminder to shareholders regarding the importance of their vote at its 2023 Annual Meeting, which will be held on April 13, 2023 at 10:00 AM EST. Shareholders are encouraged to refer to the voting instruction forms they received to vote by telephone or internet by the deadline of April 12, 2023 at 11:59 PM EST. IS&S’s Board unanimously recommends that its shareholders vote in fav

Innovative Solutions &amp; Support, Inc. Urges Shareholders to Vote Ahead of Annual Meeting

03/21/2023 | 08:12am EDT
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Independent proxy advisory firms ISS and Glass Lewis Both Recommend Approval of All Items
Innovative Solutions & Support, Inc. (“IS&S”) (NASDAQ: ISSC) today issued a reminder to shareholders regarding the importance of their vote at its 2023 Annual Meeting, which will be held on April 13, 2023 at 10:00 AM EST. Shareholders are encouraged to refer to the voting instruction forms they received to vote by telephone or internet by the deadline of April 12, 2023 at 11:59 PM EST. IS&S’s Board unanimously recommends that its shareholders vote in favor of all agenda items. Proposal 1, which amends IS&S’s articles to use a majority, rather than a super-majority, voting standard, to provide the Board with more flexibility to exercise its business judgment to evaluate and pursue future opportunities in the Company’s growth and development. This proposal needs the approval of 65% of all shares outstanding. Consequently, the vote of all shareholders, regardless of how many shares they each own is extremely important. IS&S also announced that ISS and Glass Lewis, the world’s two leading independent proxy advisory firms, have both recommended that their institutional clients vote FOR all agenda items. Regarding Proposal 1, the ISS report opined that “The reduction in the voting requirement to a majority of the common stock from 65 percent of the outstanding shares is a step in the positive direction for the company and represents an enhancement in the company's corporate governance structure.”
In its recommendation for that proposal, Glass Lewis cited its belief that “supermajority vote requirements act as impediments to takeover proposals and impede shareholders’ ability to approve ballot items that are in their interests.”
For more information on the Company’s Notice of Annual Meeting of Shareholders filing, please visit the Investor Relations page on the IS&S website, or click here . About Innovative Solutions & Support, Inc.
Headquartered in Exton, Pa., Innovative Solutions & Support, Inc. ( www.innovative-ss.com ) is a systems integrator that designs and manufactures flight guidance and cockpit display systems for Original Equipment Manufacturers (OEM’s) and retrofit applications. The company supplies integrated Flight Management Systems (FMS), autothrottles and advanced GPS receivers for precision low carbon footprint navigation. This release may contain certain statements of a forward-looking nature relating to future events. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements due to factors such as those discussed in filings made by the Company with the SEC, and readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20230321005291/en/
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Innovative Solutions & Support, Inc. Urges Shareholders to Vote Ahead of Annual Meeting

(“IS&S” or the “Company”) (NASDAQ: ISSC) today announced its financial results for the first quarter of fiscal year 2023, which ended December 31, 2022. For the first quarter of fiscal 2023, net sales were $6.5 million compared to $6.7 million in the first quarter a year ago. Gross profit in the first quarter of 2023 was $3.7 million compared to $4.0 million in the first quarter of 2022. The Company reported net income of $0.7 million, or $0.04 per share in the first quarter, compared to $1.1 million, or $0.07 per share in the first quarter of fiscal 2022. The decrease in net income was driven by increases in general and administrative expenses, mainly attributable to non-cash, long-term incentive compensation and legal fees. IS&S generated $2.2 million in cash versus $1.4 million in the first quarter of fiscal 2022. Tax expense in the first quarter of fiscal 2023 was $0.2 million, compared to $0.3 million in the first quarter of fiscal 2022. Shahram Askarpour, Chief Executive Officer of IS&S, said, “Overall, we continue to see solid demand in each segment of the business, including OEM, after-market and repairs, as we continue to generate strong cash flows. Looking forward, we are focused on driving organic and inorganic revenue growth as we work to increase our capacity utilization and operating leverage.”
The Company’s cash on hand increased to $19.4 million as of December 31, 2022, with $1.8 million generated from operating activities during the three months ended December 31, 2022. The Company continues to maintain its strong financial condition and flexibility with significant liquidity and no debt. New orders in the first quarter of fiscal 2023 were approximately $3.3 million, and backlog as of December 31, 2022 was $8.5 million, compared to backlog of $6.2 million as of December 31, 2021. Only purchase orders in hand from the Pilatus PC-24, Textron King Air and the KC-46A long-term programs are included in the total backlog. IS&S expects these programs to remain in production for approximately a decade and anticipates that they will continue to add to the total backlog incrementally. Conference Call
The Company will be hosting a conference call on Tuesday, February 14, 2023 at 4:30 PM ET to discuss these results and the Company’s business outlook and product development. Please use the following dial in number to register your name and company affiliation for the conference call: 877-451-6152 and ask to join the Innovative Solutions & Support call. The call will also be carried live on the Investor Relations page of the Company web site at www.innovative-ss.com . About Innovative Solutions & Support, Inc.
Headquartered in Exton, Pa., Innovative Solutions & Support, Inc. ( www.innovative-ss.com ) is a systems integrator that designs and manufactures flight guidance and cockpit display systems for Original Equipment Manufacturers (OEMs) and retrofit applications. The company supplies integrated Flight Management Systems (FMS), Auto-Throttle Systems and advanced GPS receivers for precision low carbon footprint navigation. Certain matters contained herein that are not descriptions of historical facts are “forward-looking” (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. Many of the factors that will determine the Company’s future results are beyond the ability of management to control or predict. Readers should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Innovative Solutions & Support, Inc. Announces First Quarter Fiscal 2023 Financial Results

(the “Company”) (NASDAQ: ISSC) announced today that the Company will release results for the first quarter of fiscal 2023 (period ended December 31, 2022) on Tuesday, February 14, 2023, after the market closes. Following the news release, the Company will host a conference call the same day at 4:30 pm ET to discuss the results. Participants may access the call by calling 1-877-451-6152 or 1-201-389-0879, and request to join the Innovative Solutions & Support, Inc. earnings call. A live webcast will be also be available at https://innovative-ss.com/investor-relations/events-presentations/ . A telephonic replay will be available shortly after the call and until February 28, 2023. Participants may access the replay at 1-844-512-2921 or 1-412-317-6671 with access code 13736226. An archived replay of the call will also be available on the investors portion of the Innovative Solutions & Support, Inc. website at https://innovative-ss.com/investor-relations/events-presentations/ . About Innovative Solutions & Support, Inc.
Headquartered in Exton, Pa., Innovative Solutions & Support, Inc. ( www.innovative-ss.com ) is a systems integrator that designs and manufactures flight guidance and cockpit display systems for Original Equipment Manufacturers (OEMs) and retrofit applications. The company supplies integrated Flight Management Systems (FMS), Auto-Throttle Systems and advanced GPS receivers for precision low carbon footprint navigation. Certain matters contained herein that are not descriptions of historical facts are “forward-looking” (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. Many of the factors that will determine the Company’s future results are beyond the ability of management to control or predict. Readers should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20230207005036/en/
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Innovative Solutions & Support, Inc. Announces First Quarter Fiscal 2023 Earnings Conference Call

01/04
01/18/2023 | 08:10am EST
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Innovative Solutions & Support, Inc. (“IS&S”) (NASDAQ: ISSC) today announced that Chief Executive Officer, Shahram Askarpour, and Chief Financial Officer, Mike Linacre, will participate in a fireside chat at the Shareholder Equity Conference on Monday, January 23, 2023 at 11:00 am ET. This conference is set in a fireside chat format and directed to provide access to retail investors. Investors will have the opportunity to ask management questions during the chat. The presentation will be webcast live and may be accessed here . An archived replay will be available on the Shareholder Equity Conference website for approximately one year following the event. About Innovative Solutions & Support, Inc.
Headquartered in Exton, Pa., Innovative Solutions & Support, Inc. ( www.innovative-ss.com ) is a systems integrator that designs and manufactures flight guidance and cockpit display systems for Original Equipment Manufacturers (OEM’s) and retrofit applications. The company supplies integrated Flight Management Systems (FMS), autothrottles and advanced GPS receivers for precision low carbon footprint navigation. This release may contain certain statements of a forward-looking nature relating to future events. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements due to factors such as those discussed in filings made by the Company with the SEC, and readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005228/en/
© Business Wire 2023

Innovative Solutions & Support, Inc. to Participate in the Shareholder Equity Conference

Blackhawk Aerospace develops engine upgrades for turboprop airplanes and provides aircraft modifications. It sells replacement engines for corporate aircraft. The company was founded in 1999 and is based in Waco, Texas.

Blackhawk Aerospace

EXTON , Pa. -- -- Innovative Solutions & Support , Inc. has entered into an agreement with Blackhawk Modifications , Inc. based in Waco , Texas , to partner as a distributor and installation center for Innovative Solutions & Support 's NextGen Flight Deck and its Integrated Turboprop Autothrottle for the King Air 200 and 350 platforms .

Innovative Solutions & Support Partners with Blackhawk Modifications to Distribute and Install Retrofit NextGen Flight Deck and Integrated Autothrottle for the King Air 200 and 350

Triumph Group designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. It caters to the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers. The company was founded in 1993 and is based in Berwyn, Pennsylvalnia.

Triumph Group

Lufthansa Technik is a manufacturer provider of maintenance, repair, overhaul, and modification services for civil aircraft. With tailored maintenance and overhaul programs and repair methods, Lufthansa Technik ensures the technical reliability and availability of its customers' fleets.

Lufthansa Technik

Delta Air Lines (NYSE: DAL) together with Delta Connection, offers service to destinations in multiple countries. Its key hubs and markets include Amsterdam, Atlanta, Boston, Detroit, Los Angeles, Mexico City, and Minneapolis/St. Paul, New York-JFK and LaGuardia, London-Heathrow, Paris-Charles de Gaulle, Salt Lake City, Sao Paulo, Seattle, Seoul, and Tokyo-Narita. Delta invests in airport facilities, global products and services, and technology to enhance the customer experience in the air and on the ground. The company was founded in 1928 and is based in Atlanta, Georgia.

Delta Air Lines

ABX Air is a cargo airline flying express cargo routes for customers in the U.S. and around the world.

ABX Air

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Manufactures and markets avionics instrumentation to military and commercial users.

Name	Work History	Title	Status
Geoffry S Hedrick		Founder, Chief Executive Officer	Current
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