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ISSC $7.1

ISSC target price
7.10
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Innovative Solutions & Support, Inc.
Type
Public: (NASDAQ: ISSC)
Industry Aerospace
Founded 1988
Headquarters Exton, PA
Key people
Geoffrey Hedrick, (CEO), Roman G. Ptakowski (President)
Products Avionics
Revenue 30.53 million USD (2008)
Operating income
8.5 million USD (2006)
Net income
2.9 million USD (2006)
Number of employees
165
Website www.Innovative-SS.com

Innovative Solutions & Support, Inc. is an avionics company based in Exton, Pennsylvania, USA. IS&S designs, develops, manufactures and markets flight information computers, flat-panel displays and advanced monitoring systems to the military, airline, manufacturer and corporate/general aviation markets. IS&S initially limited itself to retrofits only, but in 2007 the first OEM contract was signed with Eclipse Aviation.

1988: IS&S Founded by Geoffrey Hedrick.

1989: Developed the Digital Fuel Quantity Indicating System (FQIS) for the A-10, DC-10, DC-9, and KC10.

1990s: Received SSBA Altimeter Contracts for the F-16, F5, A10, and T2.
Developed the C130H Engine Instruments for Lockheed.
FAA granted RVSM Certification for the Gulfstream GII and KC-135.
Awarded KC-135 RVSM Production Contract for approximately 600 aircraft.
Completed C-9 RVSM compliance for the United States Navy.

2000: Initial Public Offering.
Integrated Flat Panel Display Certification on PC-12.

2001: Certified various RVSM solutions for Business Jets.
FAA granted Boeing 727 and Boeing 737 RVSM Certification.
Developed the Cockpit/IP Flat Panel Display System.

2002: Won contract to supply the USAF A-10 with IS&S Central Air Data Computer (CADC)
Delivered Digital Air Data Computer (DADC) replacements for the NASA T-38.
Received US Navy contract for the P-3 TITI Indicator.

2003: Awarded US Navy NAVSEA LCAC Flat Panel Cockpit Upgrade program.
Awarded AROCDU / Pilot Mission Display (PMD) for Boeing 767 Tanker Program.
Received RAAF C-130 DADC replacement contract.

2004: Surpassed 35 RSVM certifications with air data partners in the aftermarket.
Launched LCAC Flat Panel Cockpit Upgrade for the US Navy NAVSEA.
Awarded contract for USAF A-10 CADC Production Option.

2005: Foreign Military C-130 Flat Panel Engine Instrument Display System (EIDS).
Completed STC and TSO for Boeing Flat Panel EFIS Display System with ABX Air.
Contract for KDC-10 Flat Panel Display System.

2006: Received Pilatus PC-12 EFIS Flat Panel display STC from the FAA.
Signed multiple Pilatus PC-12 STC Distributorship Agreements.
FAA granted Boeing 757 STC and TSO approval for Flat Panel EFIS Display System.
Awarded USAF SSBA Altimeter contract for the F-16 and A10 aircraft.

2007: Signed American Airlines contract to retrofit their fleet of Boeing 757/767 with IS&S Cockpit/IP.
Eclipse Aviation awards Avio NG integrated flat panel display contract to IS&S.
Signed Cessna agreement to retrofit Citations 500, 501, 550, S550, 560, and 650.
Awarded US Coast Guard C-130 Flat Panel Engine Instrument Display System upgrade.

2008: Introduced the Vantage Flat Panel Display system with an open architecture to interface with most third party avionics.
Eclipse Aviation successfully completes Eclipse 500 first flight with Avio NG avionics suite.
First delivery of Eclipse 500 aircraft with IS&S Cockpit/IP displays.
American Airlines First flight with IS&S Cockpit/IP displays.
Partnered with Finnoff Aviation to bolster Pilatus PC-12 Cockpit/IP display sales.

IS&S produces both air data computers, as well as the instruments necessary to display the information. Digital displays (LCDs) are incorporated within round dials, providing more information then traditional instruments. Another display option is to use a primary flight display (PFD). IS&S air data units comply with RVSM rules and the company is a major supporter of the new technology.

Engine and fuel information is also displayed on flat panel displays, or digital versions of traditional instruments. IS&S instruments can display a number of different measurements from various sensors placed in the engine and fuel system.

IS&S has developed a number of full cockpit display solutions. Packages include a Boeing 757/Boeing 767 retrofit cockpit, C-130 retrofit cockpit, and a brand new Eclipse 500 Avio Next-Generation cockpit. The retrofit products include multiple PFDs and MFDs which replace a large number of traditional instruments. The Avio Next Generation cockpit is a brand new display system developed for new Eclipse 500 very light jets.

On March 5, 2007, shortly after its announcement to part with Avidyne, Eclipse Aviation published an announcement that described the Next Generation Avio System and its suppliers. Innovative Solutions & Support, Inc. was listed as the main supplier and will provide the bulk of the package, including the PFD and MFD displays and the software included with them. This agreement is one of the biggest for IS&S. The day after the announcement, IS&S stock increased almost 20%, closing at $23.10, a 20-month high. Volume increased over 500% to just over 1 million shares.

Coordinates: 40°04′11″N 75°41′05″W / 40.069714°N 75.684739°W / 40.069714; -75.684739

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2020 2022-08-10 0.00 0.00
Q2 2020 2020-05-13 0.03 0.03
Q1 2020 2020-02-05 0.02 0.02
Q4 2019 2019-12-11 0.06 0.06
Q3 2019 2019-08-07 0.03 0.03
Q2 2019 2019-05-08 0.01 0.01
Q4 2018 2018-12-17 -0.02 -0.02

Ratings

2014-07-31 Reiterated Rating Singular Research Buy $10.00
2014-04-08 Initiated Coverage Singular Research Buy $10.00
2010-05-04 Initiated C.K. Cooper Hold
2008-11-20 Upgrade Boenning & Scattergood Market Underperform to Market Perform
2008-11-20 Reiterated Northland Securities Market Perform
2008-11-20 Reiterated Jesup & Lamont Hold
2008-08-19 Downgrade Boenning & Scattergood Market Outperform to Market Perform $4
2008-04-24 Reiterated Boenning & Scattergood Market Underperform $7 to $5
2008-02-22 Upgrade Northland Securities Under Perform to Market Perform
2008-01-31 Downgrade Boenning & Scattergood Market Perform to Market Underperform $7
2007-12-06 Downgrade Northland Securities Outperform to Under Perform
2007-11-07 Downgrade Boenning & Scattergood Market Outperform to Market Perform
2007-07-26 Reiterated Northland Securities Outperform $36 to $27.50
2007-04-30 Reiterated Northland Securities Outperform $30 to $36
2007-03-06 Upgrade Boenning & Scattergood Market Perform to Market Outperform $32
2007-03-06 Reiterated Northland Securities Outperform $27 to $30
2007-03-06 Reiterated
2007-03-01 Reiterated Northland Securities Outperform $22 to $27
2007-02-01 Upgrade Caris & Company Average to Above Average
1970-01-01
2014-07-31 Reiterated Rating Singular Research Buy $10.00
2014-04-08 Initiated Coverage Singular Research Buy $10.00
2010-05-04 Initiated C.K. Cooper Hold
2008-11-20 Upgrade Boenning & Scattergood Market Underperform to Market Perform
2008-11-20 Reiterated Northland Securities Market Perform

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
HEDRICK GEOFFREY S M Chief Executive Officer 20.85%  (3535159) ISSC /
STRS OHIO 9.81%  (1663550) ISSC /
MITTELSTAEDT ROBERT E JR 1.24%  (210281) ISSC / LH / WPC /
BRESSNER GLEN R 0.65%  (109676) ISSC /
RAU ROBERT H 0.32%  (54550) ISSC /
MARKS IVAN M 0.22%  (38003) ISSC /
MIONIS ROBERT 0.21%  (35478) ISSC /
Carolin Roger Anthony 0.13%  (21673) AMKR / ISSC /
LONG JOHN C Chief Financial Officer 0.06%  (10000) ISSC /
Albrecht Ronald Chief Financial Officer 0.03%  (5060) ISSC /
Askarpour Shahram President 0.01%  (2500) ISSC /
Wilson Raymond J 0.01%  (1386) ISSC /