Innovative Solutions Stock Plunges 33% Despite Higher Q3 Earnings And Sales

(RTTNews) - Innovative Solutions and Support, Inc. (ISSC) dropped 32.74 percent to $13.27, down $6.46 on Thursday, after reporting fiscal third quarter results. The company posted net income of $2.4 million, or $0.14 per share, up from $1.6 million, or $0.09 per share, a year ago. Net sales surged to $24.1 million from $11.8 million last year.

The stock opened at $15.08 and traded between $13.07 and $15.08, with trading volume hitting 1.63 million shares, well above the average of 465,200 on the Nasdaq.

Innovative Solutions and Support's 52-week range is $5.30 to $20.00.