Page 1

IS Innovative SSolutions & Support Innovative Solutions & Support , Inc. Announces Third Quarter Fiscal 2021 Financial Results Exhibit 99.1 08/11/2021 EXTON , Pa .-- ( BUSINESS WIRE ) -- Innovative Solutions & Support , Inc. ( " IS & S ” or the “ Company ” ) ( NASDAQ : ISSC ) today announced its financial results for the third quarter of fiscal 2021 , ended June 30 , 2021 . For the third quarter of fiscal 2021 , the Company reported net sales of $ 6.2 million up 3 % from the third quarter a year ago . The Company reported net income of $ 2.7 million , or $ 0.16 per share , which includes a $ 1.5 million tax benefit from the release of the deferred tax valuation allowance , up 108 % from the third quarter of fiscal 2020 . Geoffrey Hedrick , Chairman and Chief Executive Officer of IS & S , said , “ Revenues in the quarter were up both year - over - year , as well as sequentially from the second quarter of this year , as momentum builds . This growth was achieved during difficult times with the ongoing pandemic which is most encouraging and bodes well for the Company's future . ”