$ISSC
INNOVATIVE SOLUTIONS & SUPPORT INC

2011 Q3 Form 10-Q Financial Statement

#000110465911045377 Filed on August 09, 2011

View on sec.gov

Income Statement

Concept 2011 Q3 2010 Q2
Revenue $6.490M $7.810M
YoY Change -13.0% 0.64%
Cost Of Revenue $3.324M $3.010M
YoY Change 21.76% -16.85%
Gross Profit $3.166M $4.803M
YoY Change -33.06% 16.01%
Gross Profit Margin 48.78% 61.5%
Selling, General & Admin $1.890M $1.938M
YoY Change -11.27% 5.35%
% of Gross Profit 59.69% 40.36%
Research & Development $1.180M $1.275M
YoY Change -15.11% -1.17%
% of Gross Profit 37.27% 26.54%
Depreciation & Amortization $170.0K $220.0K
YoY Change -15.0% -12.0%
% of Gross Profit 5.37% 4.58%
Operating Expenses $3.080M $3.213M
YoY Change -12.5% 2.66%
Operating Profit $94.96K $1.590M
YoY Change -92.15% 57.4%
Interest Expense $20.00K $562.00
YoY Change -71.43% -98.6%
% of Operating Profit 21.06% 0.04%
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income $120.0K $1.660M
YoY Change -90.63% 58.1%
Income Tax $110.0K $270.3K
% Of Pretax Income 91.67% 16.28%
Net Earnings $10.00K $1.388M
YoY Change -99.2% 11.04%
Net Earnings / Revenue 0.15% 17.77%
Basic Earnings Per Share $0.00 $0.08
Diluted Earnings Per Share $0.00 $0.08
COMMON SHARES
Basic Shares Outstanding 16.80M shares 16.76M shares
Diluted Shares Outstanding 16.80M shares

Balance Sheet

Concept 2011 Q3 2010 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.60M $38.00M
YoY Change 4.16% -3.31%
Cash & Equivalents $42.63M $38.02M
Short-Term Investments
Other Short-Term Assets $236.8K $1.000M
YoY Change -78.47% 11.11%
Inventory $3.509M $5.000M
Prepaid Expenses
Receivables $3.124M $4.300M
Other Receivables $0.00 $0.00
Total Short-Term Assets $50.57M $48.40M
YoY Change 1.95% -5.47%
LONG-TERM ASSETS
Property, Plant & Equipment $7.476M $7.900M
YoY Change -3.67% -8.14%
Goodwill
YoY Change
Intangibles $208.4K
YoY Change -5.76%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $7.685M $8.100M
YoY Change -3.73% -10.99%
TOTAL ASSETS
Total Short-Term Assets $50.57M $48.40M
Total Long-Term Assets $7.685M $8.100M
Total Assets $58.26M $56.50M
YoY Change 1.16% -6.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $443.5K $1.000M
YoY Change -18.45% 0.0%
Accrued Expenses $2.551M $2.300M
YoY Change -1.3% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $3.241M $3.400M
YoY Change -1.7% -5.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $189.1K $200.0K
YoY Change 24.81% -33.33%
Total Long-Term Liabilities $189.1K $200.0K
YoY Change 24.81% -95.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.241M $3.400M
Total Long-Term Liabilities $189.1K $200.0K
Total Liabilities $3.997M $4.200M
YoY Change -3.05% -51.16%
SHAREHOLDERS EQUITY
Retained Earnings $26.63M
YoY Change 2.77%
Common Stock $47.22M
YoY Change 0.8%
Preferred Stock
YoY Change
Treasury Stock (at cost) $19.59M
YoY Change 1.55%
Treasury Stock Shares 1.545M shares
Shareholders Equity $54.26M $52.30M
YoY Change
Total Liabilities & Shareholders Equity $58.26M $56.50M
YoY Change 1.16% -6.3%

Cashflow Statement

Concept 2011 Q3 2010 Q2
OPERATING ACTIVITIES
Net Income $10.00K $1.388M
YoY Change -99.2% 11.04%
Depreciation, Depletion And Amortization $170.0K $220.0K
YoY Change -15.0% -12.0%
Cash From Operating Activities $410.0K $2.390M
YoY Change -86.1% 27.13%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K -$20.00K
YoY Change 100.0% -75.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$60.00K -$20.00K
YoY Change 100.0% -75.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -300.0K 0.000
YoY Change 900.0% -100.0%
NET CHANGE
Cash From Operating Activities 410.0K 2.390M
Cash From Investing Activities -60.00K -20.00K
Cash From Financing Activities -300.0K 0.000
Net Change In Cash 50.00K 2.370M
YoY Change -98.27% 32.4%
FREE CASH FLOW
Cash From Operating Activities $410.0K $2.390M
Capital Expenditures -$60.00K -$20.00K
Free Cash Flow $470.0K $2.410M
YoY Change -84.23% 22.96%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2010Q3 us-gaap Inventory Net
InventoryNet
4656392 USD
CY2010Q3 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
522352 USD
CY2010Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
982768 USD
CY2010Q3 us-gaap Assets Current
AssetsCurrent
49607834 USD
CY2010Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7761538 USD
CY2010Q3 us-gaap Assets
Assets
57590522 USD
CY2010Q3 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
9908 USD
CY2010Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
543877 USD
CY2010Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2585060 USD
CY2010Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
157933 USD
CY2010Q3 us-gaap Liabilities Current
LiabilitiesCurrent
3296778 USD
CY2010Q3 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
15560 USD
CY2010Q3 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
8688 USD
CY2010Q3 us-gaap Common Stock Value
CommonStockValue
18245 USD
CY2010Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
25909652 USD
CY2010Q3 us-gaap Treasury Stock Value
TreasuryStockValue
19291506 USD
CY2010Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
53468037 USD
CY2010Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
57590522 USD
CY2010Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
40916346 USD
CY2010Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2529976 USD
dei Entity Registrant Name
EntityRegistrantName
INNOVATIVE SOLUTIONS & SUPPORT INC
dei Entity Central Index Key
EntityCentralIndexKey
0000836690
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2011-06-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2011Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
16804374 shares
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2011
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
CY2010Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16799157 shares
CY2010Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16760759 shares
CY2010Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2010Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2010Q2 us-gaap Profit Loss
ProfitLoss
1388032 USD
CY2010Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
270293 USD
CY2010Q2 us-gaap Interest Expense
InterestExpense
562 USD
CY2010Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1589723 USD
CY2010Q2 us-gaap Operating Expenses
OperatingExpenses
3213283 USD
CY2010Q2 us-gaap Selling General And Administrative Expense
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1938411 USD
CY2010Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1274872 USD
CY2010Q2 us-gaap Gross Profit
GrossProfit
4803006 USD
CY2010Q2 us-gaap Technology Services Costs
TechnologyServicesCosts
120150 USD
CY2010Q2 us-gaap Technology Services Revenue
TechnologyServicesRevenue
518290 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16752973 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16752973 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Profit Loss
ProfitLoss
-502906 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-135385 USD
us-gaap Interest Expense
InterestExpense
1840 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-806225 USD
us-gaap Operating Expenses
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9810158 USD
us-gaap Selling General And Administrative Expense
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5965876 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3844282 USD
us-gaap Gross Profit
GrossProfit
9003933 USD
us-gaap Technology Services Costs
TechnologyServicesCosts
718024 USD
us-gaap Technology Services Revenue
TechnologyServicesRevenue
1676173 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
283412 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2279264 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-304517 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-326393 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-216486 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-517140 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
9682 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-58809 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2646251 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
162173 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-162173 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-30236 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2453842 USD
CY2009Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35565694 USD
CY2010Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
38019536 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
121473 USD
us-gaap Proceeds From Income Tax Refunds
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1000 USD
us-gaap Depreciation Depletion And Amortization
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632175 USD
CY2010Q3 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
649929 USD
CY2010Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
151530 USD
CY2010Q3 us-gaap Liabilities
Liabilities
4122485 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
19059571 USD

Files In Submission

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0001104659-11-045377-xbrl.zip Edgar Link pending
a11-14199_110q.htm Edgar Link pending
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