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Innovative Solutions & Support, Inc. Receives Award from the National Nuclear Security Administration for the System Integration and Performance Upgrade of the B737 Classic Aircraft

Dépèche transmise le 27 juillet 2011 par Business Wire

Innovative Solutions & Support, Inc. Receives Award from the National Nuclear Security Administration for the System Integration and Performance Upgrade of the B737 Classic Aircraft

EXTON, Pa.--(BUSINESS WIRE)--Today the National Nuclear Security Administration (NNSA) placed an order valued at more than $5 million with Innovative Solutions & Support, Inc. (NASDAQ: ISSC) for the complete Systems Integration and Cockpit Avionics upgrade of their B737-400 classic aircraft.

“The Innovative Solutions & Support Cockpit/IP™ is the most cost-effective solution to upgrade legacy avionics with state-of-the-art technology.”

This initial order for retrofit of two (2) B737-400 aircraft will provide NNSA full CNS/ATM capabilities and similar efficiency and performance to the NG (Next Generation) at a fraction of the cost. This integration effort eliminates legacy CRT displays and avionics, leverages commercial off-the-shelf technology, and provides a platform for future upgrades. Included in the effort are enhanced FMS, TCAS, EGPWS, NexRad, SatCom, and ADS-B capabilities. NNSA achieves:

• CNS/ATM mandate compliance
• Fleet standardization of the flight deck
• Increased operational flexibility while enhancing safety and efficiency.
• Improved dispatch availability and component reliability.
• Significantly improved aircrew situational awareness and reduced aircrew workload.

This program complements the IS&S FPDS contracted for more than 400 B757/B767 aircraft with more than 100 aircraft already in revenue service. The upgrade for the B737-300/-400/-500 series aircraft as well as for the B757/B767 is a platform for compliance with NextGen and SESAR requirements, is CPDLC, RNP, ADS-B, and In-Trail capable, provides power and weight savings, and reduces fuel consumption and CO2 emissions.

“We are pleased that NNSA has chosen Innovative Solutions and Support to upgrade their aircraft,” said Roman Ptakowski, President of Innovative Solutions & Support. “The Innovative Solutions & Support Cockpit/IP™ is the most cost-effective solution to upgrade legacy avionics with state-of-the-art technology.”

The Cockpit/IP for the B737 is an open architecture flat panel display system that allows operators to upgrade their aircraft to a glass flight deck while leaving third party avionics installed in the aircraft. This design approach allows the operator to select the best of breed new equipment and minimizes the cost and down time of the upgrade.

This award adds to the more than $7.3 million in orders received last quarter by IS&S for Integrated Flight Management Systems, GPS receivers, Flat Panel Display Systems, and Air Data products.

About Innovative Solutions & Support, Inc.

Headquartered in Exton, Pennsylvania, Innovative Solutions & Support, Inc. (www.innovative-ss.com) is a systems integrator engaged in the design, manufacture and marketing of Flat Panel Display Systems, Air Data equipment, Flight Information Computers, Engine and Fuel Measurement and Control Computers, and advanced monitoring systems that measure and display critical flight information. This includes data relative to aircraft separation, airspeed and altitude as well as fuel and instrument measurements.

Certain matters contained herein 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.