INNOVATIVE SOLUTIONS & SUPPORT INC
For the period ended Mar 31, 2024. Filed May 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 14, 2024
IA$21.30+9.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
| | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · Three Months Ended March 31, · · Six Months Ended March 31, · | |||||||||||||
| · 2024 · 2023 · 2024 · 2023 | |||||||||||||
| Net Sales: | | | | | | | | | | | | | |
| Product | | $4,895,589 | | $5,945,151 | | $9,319,697 | | $11,035,358 | | ||||
| Customer service | | | 5,098,222 | | | 1,395,303 | | | 9,325,469 | | | 2,454,452 | |
| Engineering development contracts | | 745,705 | | — | | 1,402,413 | | 366,899 | | ||||
| Total net sales | | 10,739,516 | | 7,340,454 | | 20,047,579 | | 13,856,709 | | ||||
| | | | | | | | | | | | | | |
| Cost of sales: | | | | | | | | | | | | | |
| Product | | 2,347,695 | | 2,202,750 | | 4,129,040 | | 4,618,694 | | ||||
| Customer service | | | 2,462,260 | | | 397,553 | | | 4,189,221 | | | 716,655 | |
| Engineering development contracts | | 347,199 | | — | | 623,794 | | 57,406 | | ||||
| Total cost of sales | | 5,157,154 | | 2,600,303 | | 8,942,055 | | 5,392,755 | | ||||
| | | | | | | | | | | | | | |
| Gross profit | | 5,582,362 | | 4,740,151 | | 11,105,524 | | 8,463,954 | | ||||
| | | | | | | | | | | | | | |
| Operating expenses: | | | | | | | | | | | | | |
| Research and development | | 1,031,119 | | 866,198 | | 1,932,263 | | 1,536,643 | | ||||
| Selling, general and administrative | | 2,908,193 | | 2,446,635 | | 5,915,012 | | 4,708,498 | | ||||
| Total operating expenses | | 3,939,312 | | 3,312,833 | | 7,847,275 | | 6,245,141 | | ||||
| | | | | | | | | | | | | | |
| Operating income | | 1,643,050 | | 1,427,318 | | 3,258,249 | | 2,218,813 | | ||||
| | | | | | | | | | | | | | |
| Interest expense | | (171,470) | | — | | (531,483) | | — | | ||||
| Interest income | | 36,200 | | 130,951 | | 115,679 | | 246,843 | | ||||
| Other income | | 26,472 | | 23,258 | | 44,171 | | 41,455 | | ||||
| Income before income taxes | | 1,534,252 | | 1,581,527 | | 2,886,616 | | 2,507,111 | | ||||
| | | | | | | | | | | | | | |
| Income tax expense | | 325,936 | | 310,424 | | 620,950 | | 537,357 | | ||||
| | | | | | | | | | | | | | |
| Net income | | $1,208,316 | | $1,271,103 | | $2,265,666 | | $1,969,754 | | ||||
| | | | | | | | | | | | | | |
| Net income per common share: | | | | | | | | | | | | | |
| Basic | | $0.07 | | $0.07 | | $0.13 | | $0.11 | | ||||
| Diluted | | $0.07 | | $0.07 | | $0.13 | | $0.11 | | ||||
| | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | |
| Basic | | 17,456,120 | | 17,352,340 | | 17,453,741 | | 17,334,553 | | ||||
| Diluted | | 17,487,527 | | 17,354,030 | | 17,481,217 | | 17,340,104 | | ||||
** INNOVATIVE SOLUTIONS AND SUPPORT, INC.**
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