Structural Monitoring Systems (ASX:SMN) announced financial results for the quarter ended 30 September 2022.

Wholly owned subsidiary AEM recorded another solid performance for the quarter with revenue totaling $5.05 million versus $3.38m for the prior year, up 49%.

October revenue billed strong at $1.84m versus $1.26m for the year prior, up 46%.

Appointment of several key aerospace executives, one of which will be based in Europe to anchor the relationship with Airbus.

SMS presented at the Airlines for America Non-Destructive Testing Forum.

SMS successfully completed the POD testing of the 737 APB program with Boeing, with Chief Technical Officer Trevor Lynch-Staunton reporting ?flawless? performance of the sensors and instrumentation throughout.

The Company raised $1.925m before issue costs in September to further accelerate the commercialisation of its groundbreaking CVM technology.

Experienced aviation executive Mr Miroljub (Miro) Miletic unanimously recommended to be elected to the Board.

SMS continues to work closely with Delta Airlines towards the first commercial sales of its CVM sensors for the B737 Aft Pressure Bulkhead.

Following the announcement the company?s share price fell 14.150%.