FLYHT CEO Speaks To Momentum On Heels Of Record Shattering Quarter

FLY:TSX-V

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:

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    “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.

FLYHT Reports Second Quarter Results – Record Revenue of $6.7M

Calgary, Alberta – July 27, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) a leading provider of real-time data communication technology and services for the aviation industry today reported financial results for its second quarter ended June 30, 2016.

“FLYHT is excited to share our second quarter results. The Company reported the highest sales revenue on record at $6.7 million for the quarter, which includes our traditional revenue and a previously disclosed sale of intellectual property,” stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. “We signed several contracts in the quarter, raised equity, retired a mature debenture and ended the first six months of the year with total revenues of $9.4 million, a figure close to the $10.5 million we achieved in the full year of 2015.”

Second Quarter Results Include:

  • Traditional revenue of $3,537,665 in the second quarter, a 121% increase from Q2 2015, bringing the six-month result to $6,148,996, 48% ahead of the prior year.
  • Recurring revenue (voice and data services) of $1,014,725 showed an increase of 18.7% over the second quarter of 2015, and parts sales of $1,126,542 increased 294.6%. These revenue categories are 14.5% and 91.4%, respectively, ahead of the prior year in the first six months.
  • Net profit for the quarter was $2,572,061 compared to a loss of $1,943,924 in the same period last year, a $4,515,985 increase in profitability and contributes to a $1,329,119 profit at the half-year.
  • Distribution expense increased $261,453 (26.5%) due mainly to higher people costs compared to the prior year.
  • Salaries and benefits increased administration expense 16.9% to $1,103,399 compared to the second quarter of 2015.
  • Research, Development and Certification Engineering cost decreased $336,871 in Q2 2016 and $150,206 in the half-year; mainly as a result of changing salaries and benefits.
  • Modified Working Capital at the end of Q2 2016 was positive $4,070,452 compared to negative $3,306,055 at December 31, 2015.
  • Customer deposits of $810,234 at quarter end, was a 6.3% decrease compared to Q2 2015; payments received of $1,014,022 were 239.3.0% higher than the same quarter of 2015 and the value of deposits moved to unearned revenue increased 215.2% compared to Q2 2015.
  • Unearned revenue increased to $1,561,020 or 26.2% higher than the second quarter of 2015 and 43.6% ahead of December 2015;
  • Revenue recognized on AFIRS units shipped was higher than in Q2 2015 as clients have installed 27 kits in Q2 2016 compared to seven in the second quarter of 2015 and 36 in total in 2016 compared to 22 in the first half of 2015.
  • AFIRS sales shipped, not accepted in 2016 exceeded 2015 by $1,437,277 or 205.1%.
  • A private placement offering was closed for $5,086,512 in May 2016 and in June a debenture matured and was redeemed for $2,321,000.

For detailed information, FLYHT’s 2016 Second Quarter Report containing the CEO’s Message, Management Discussion and Analysis and Financial Statements has been posted to the Company’s website and can be accessed at http://www.flyht.com/investors/financial-reports-results-centre/. The MD&A and Financial Statements have also been sent to SEDAR and will be accessible at www.sedar.com.

FLYHT will host a live conference call to discuss second quarter results on Thursday, July 28, 2016 at 9 am MDT (11 am EDT, 8 am PDT). The conference call will include a brief presentation about FLYHT’s second quarter results followed by a question and answer period with management.

To access the conference call by phone within Canada and the U.S.A., the toll-free number is 1-800-319-4610.  Outside Canada and the U.S.A., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail.  Individuals wishing to ask a question during the call, can do so by pressing *1. Questions can be emailed in advance or during the conference call to investors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider. http://flyht.com/investors/videos/

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Interview With FLYHT CEO Tom Schmutz

“There Is A Real Awakening In The (Airline) Business And FLYHT’s Well Positioned”

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In a recent interview with U.S.-based Uptick Newswire, FLYHT CEO Tom Schmutz covered a number of topics including:

  • The company’s charitable sponsorship of Laval St. Germain and his heroic efforts to raise money for cancer
  • The company’s year over year rising revenues
  • The successful recent private placement
  • How the Automated Flight Information System (AFIRS™) saves airlines money through various services
  • How it enhances aircraft safety by being able to stream black box data during an emergency event during a flight

In closing, Mr. Schmutz summarized the company’s current focus and outlined the opportunities that lay ahead.

“Right now we are focused on a couple different areas. We are focused on getting additional OEMs, in addition to the A320 and A330. We have a very strong business in China right now. There is a Chinese mandate that requires satellite communications to be on aircraft and inspected by 2017. I just got back from China and I continue to be excited about that portion of our market. And we’re looking for opportunities to support flight tracking requirements as they come out. Those requirements have been pushed out to 2018 and 2021. But we think the aircraft community is becoming more enlightened about wanting to understand where their assets are and making sure they move from old 1950’s style technologies and into the 21st century where you can understand where your equipment is at any time and talk to it in real time.”

To listen to the full interview, please click here.

Shares Outstanding: 173,477,635
Options: 8,736,300
Fully Diluted: 182,213,935

 

FLYHT Aerospace Solutions Ltd. Schedules Second Quarter Conference Call

Calgary, Alberta – July 21, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) has scheduled a live conference call to discuss its second quarter results to be heldThursday, July 28, 2016 at 9 am MDT (11 am EDT, 8 am PDT).

The conference call will include a brief presentation from FLYHT’s CEO Tom Schmutz and CFO Nola Heale about FLYHT’s second quarter results followed by a question and answer period with management.

To access the conference call by phone within Canada and the U.S.A the toll-free number is 1-800-319-4610. Outside Canada and the U.S.A., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail. Individuals wishing to ask a question during the call, can do so by pressing *1. Questions can be emailed in advance or during the conference call toinvestors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider. http://flyht.com/investors/videos/

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FLYHT Featured In Avionics Magazine – AFIRS Saves Time And Money

FLY:TSX-V

Avionics Magazine writer, Woodrow Bellamy III, recently penned an article called “FLYHT is Expanding Real Time Aircraft Monitoring to the Cloud” after interviewing CEO, Tom Schmutz and CTO Derek Graham. Key points that were detailed included how the technology saves airlines money and how it is helping customers identify potential mechanical issues before they occur.

In the piece, they discuss how the company’s Automated Flight Information Reporting System (AFIRS™) is moving its servers from the ground to the cloud.

To read the full article, please click here.

About Avionics Today
Avionics is the leading source for global aviation technology intelligence, covering the latest developments with the connected aircraft, NextGen, avionics innovation and global air traffic management modernization. More than a magazine, this is the platform for in-depth analysis on the global aircraft electronics market, used by top avionics executives, engineers, pilots and professionals throughout the value chain. All this is backed by a Qualified Circulation of 27,000.


Shares Outstanding: 173,477,635
Options: 8,736,300
Fully Diluted: 182,213,935


FLYHT Provides Quarterly Update

Calgary, Alberta – July 6, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the following updates: •

  • During the second quarter of 2016, FLYHT signed three new contracts for voice and data services. Two of the airlines elected to turn on the services after purchasing preowned aircraft with the Automated Flight Information Reporting System (“AFIRS™”) already installed. In the case of the third airline, the value of the hardware sale was accounted for in a contract in the Fall of 2015 (see press release dated September 28, 2015). New, aggregate data services revenue on the three new contracts will be approximately $304,000 USD assuming FLYHT provides services for the full term of the agreements. Optional services are available to the customers in addition to what has been ordered.
  • FLYHT is also pleased to report that a former client that had been discontinued for non-payment in 2014, has extended their contract, paid their arrears and added additional aircraft to the service agreement. Aggregate data and hardware revenue on this contract will be approximately $972,000 USD assuming FLYHT provides services over the full term of the agreement.These four airlines bring the number of new direct sales contracts signed in the second quarter to five (including one customer in China announced in a press release dated April 25, 2016). The combined value of the new contracts signed in the second quarter is $2.3 million USD over the term of the agreements.
  • In the quarter FLYHT added further certifications with the receipt of the Civil Aviation Administration of China (“CAAC”) supplemental type certificate (“STC”) for the Boeing 767 200 and 300 series. This STC is important to FLYHT because FLYHT has a Chinese Operator under contract with five 767s. Management of FLYHT anticipates that the operator is close to completing the first AFIRS 228 installation with the second installation underway.
  • The Company’s outstanding redeemable debentures matured and were repaid in full by FLYHT for $2.5 million on June 30, 2016.

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.