As of this writing, FLYHT volume had reached approximately three quarters of a million shares following news of a record revenue $6.7 million second quarter and CEO Tom Schmutz speaking with investors regarding ongoing corporate progress and performance.
The quarter received a major boost with a one-time Intellectual Property sale as outlined by CFO Nola Heale. Here are some of the highlights from the conference call:
“Second quarter was an outstanding revenue quarter for FLYHT. Total revenue was $6.7 million, which is nearly 80% larger than our best previous quarter. This revenue result was helped by a $3.3 million intellectual property deal. Even without that, we brought in $3.5 million from our traditional sources of revenue, which would be a close second to the fourth quarter last year for best revenue.”
“The OEM licence fees which show up in our parts sales for the company remains strong and continue to grow year over year. We are significantly ahead of last year’s revenue from this source at this time. Nearly doubling the first half of 2015.”
- “We place significant internal focus on growing our recurring revenue sources more quickly and I expect to have some exciting news in this revenue area in the near future.”
- “When we look at our revenues year to date, we find that the $9.3 million figure that we bought in quarters one and two of this year, is approaching the $10.5 million that we did in all of 2015.”
- “Our company has demonstrated record revenues successfully in five of the last six quarters. So there is significant optimism within the company resulting from this improved revenue performance and the strong feedback we are receiving from OEM and solution partners that we have a unique offering for the market.”
- “We are focused on accomplishing the goals we set out to do in 2016. We are increasing our revenues and will continue to shepherd that very important indicator. We are very focused on closing a new OEM opportunity and we continue to see interest in the market for our solution.”
Please click below to listen to the full conference call or click here.