Integral Systems, Inc. (Nasdaq:ISYS) has reported financial results for the first quarter of fiscal 2010. Revenue for the first quarter of fiscal 2010 was $37.7 million, down 2 percent versus the first quarter of 2009. Gross margin improved to 38.4 percent compared to 37.0 percent for the first quarter of fiscal 2009. First quarter 2010 income from operations was $2.0 million compared to $1.3 million reported in the first quarter of fiscal 2009 reflecting a focused approach to controlling indirect costs. Net income for the quarter was $1.2 million or $0.07 per diluted share versus net income of $1.0 million or $0.06 per diluted share reported for the first quarter of fiscal 2009.

Quarter highlights...

• Awarded contract extension on the U.S. Air Force Command and Control System Consolidated (CCS-C) program through 2013
• Awarded a contract to provide Satellite Monitoring and Interference Detection capability to broadband gateway earth stations from ViaSat Inc.
• Announced that both shareholder derivative claims have been withdrawn by plaintiffs or dismissed by the courts without any findings against the company or its current management team, or payment of any settlement amounts
• Awarded $3 million in contracts to provide integrated ground station network support to BAE Systems' Australia
• Awarded $4.3 million contract to upgrade the Utah Test and Training Range (UTTR) Frequency Control and Analysis (FCA) system
• Honored with two supplier awards by Northrop Grumman Corporation for our work on the Global Positioning System (GPS) Next Generation Advanced Control Segment (OCX) Phase A program