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Innovative Solutions & Support, Inc. (NASDAQ:ISSC) today announced
that the Company has entered into a five-year, OEM (Original Equipment
Manufacturer) agreement with Eclipse Aviation to provide Flat Panel
Display Systems. Under this agreement, the Company will be the
exclusive supplier of Primary Flight and Multi-Function Flat Panel
Displays as part of the Avio NG Total Aircraft Integration system on
Eclipse 500 Very Light Jets (VLJ).
Innovative Solutions and Support's Chairman and Chief Executive
Officer, Geoffrey S.M. Hedrick stated, "We are honored to have been
chosen as one of Eclipse Aviation's best-of-breed partners for the
Avio NG component of their revolutionary Eclipse 500 program. We look
forward to delivering reliable and cost effective displays to Eclipse
Aviation, allowing the Avio Total Aircraft Integration concept to
become a reality on the Eclipse 500. This agreement further
establishes our Cockpit/IP(TM) (Cockpit Information Portal) as a
leading solution in providing advanced functionality and graphics to
reduce pilot workload, enhance situational awareness, and improve
safety."
The Avio NG system delivers significant enhancements providing
next generation digital avionics with demonstrated airline reliability
and systems capability unparalleled in the very light jet segment.
These enhancements include:
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-- Improved reliability achieved through:
-- EFIS software that has been similarly deployed as level A
software
-- Higher Mean Time Between Failure (MTBF) rates for Primary
Flight Display (PFD) and Multi-function Display (MFD) hardware
-- Hardware systems that previously have been used only in Part 25
airplanes
-- Improved systems architecture and design
-- 768 x 1024 resolution PFD displays and 1440 x 900 resolution MFD
display
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"The Company's patented FAA Level A certified Flat Panel Display
Systems with proven Air Transport quality and performance bring the
Part 25 high integrity level to the VLJ operator who will be sharing
the same airspace with the commercial airlines."
Mr. Hedrick continued, "This OEM agreement illustrates the
versatility of the Company's products. Since we design all of our
products to meet the most stringent industry requirements, as well as
to easily accommodate foreseeable future needs, they are equally
suitable for owners of both newly manufactured aircraft and aircraft
in need of an upgrade. Additionally, this OEM agreement with Eclipse
Aviation will provide a stable revenue stream for the Company over the
next several years, and, when coupled with the demands from the
different retrofit market segments that we serve, a sustainable double
digit growth in revenue and income will prevail."
Eclipse Aviation, manufacturer of the world's first very light jet
(VLJ), currently has orders for approximately 2,500 Eclipse 500
airplanes. The Company's agreement with Eclipse is for 60 months,
commencing with the delivery of the first production ship-set to
Eclipse, expected this summer.
About Avio NG
Designed by Eclipse Aviation exclusively for the Eclipse 500, Avio
NG provides Total Aircraft Integration through integral, redundant
computer systems and advanced data and power distribution systems.
Avio NG applies integration technology to the entire aircraft,
including avionics, engine operation, fuel system, flaps, landing
gear, cabin pressure and temperature. The cockpit features two PFDs
and one MFD, which are controlled by selection keys and knobs on the
displays or by a keyboard at the pilot position. The PFD and MFD
provide the pilot with high-resolution display of all flight
parameters, engine and system performance data, and total system
control.
About Innovative Solutions & Support, Inc.
Headquartered in Exton, Pa., Innovative Solutions & Support,
Inc.(www.innovative-ss.com) designs, manufactures and markets flight
information computers, electronic displays and advanced monitoring
systems that measure and display critical flight information. This
includes data relative to aircraft separation (RVSM), airspeed and
altitude, as well as engine and fuel data measurements.
Certain matters contained herein that are not descriptions of
historical facts are "forward-looking" (as such term is defined in the
Private Securities Litigation Reform Act of 1995). Because such
statements include risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause results to differ materially from
those expressed or implied by such forward-looking statements include,
but are not limited to, those discussed in filings made by the Company
with the Securities and Exchange Commission. Many of the factors that
will determine the Company's future results are beyond the ability of
management to control or predict. Readers should not place undue
reliance on forward-looking statements, which reflects management's
views only as of the date hereof. The Company undertakes no obligation
to revise or update any forward-looking statements, or to make any
other forward-looking statements, whether as a result of new
information, future events or otherwise.
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