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Innovative Solutions & Support, Inc. Announces First Quarter Fiscal 2018 Financial Results

INNOVATIVE SOLUTIONS (ISSC)  More Company Research Source: Business Wire
US:NASDAQ Investor Relations: innovative-ss.com/investor-relations
PDF EXTON, Pa.--(BUSINESS WIRE)-- Innovative Solutions & Support, Inc. (“IS&S” or the “Company”) (ISSC) today announced its financial results for the first quarter of fiscal 2018 ended December 31, 2017. For the first quarter of fiscal 2018, the Company reported net sales of $3.1 million, down 10% from the first quarter a year ago. The Company reported a net loss of $0.9 million, or ($0.05) per share, for the quarter, an improvement from the net loss of $1.2 million, or ($0.07) per share, recorded in the first quarter of fiscal 2017. Geoffrey Hedrick, Chairman and Chief Executive Officer of IS&S, said, “Results in the first quarter reflect the low beginning backlog at the beginning of the fiscal year. While revenues were down in the first quarter, our focus on more profitable production sales and tight cost control has enabled us to generate gross margins approaching 50%, and, we remain committed to [Read more]

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