FLYHT Launches ‘Must Watch’ Video About The Necessity For Real-time Alerting and Satellite Flight Tracking

If you have ever flown in an airplane, you should watch FLYHT’s latest video.

FLYHT prepared a new video as a part of its participation in the Aviation Festival Asia that is taking place this Thursday and Friday in Singapore. The international conference is expected to attract more than 1000 industry professionals and more than 150 leading industry speakers including FLYHT executives.

The video highlights how FLYHTStream™ works to make air travel safer. The system monitors all aircraft systems and sends out routine position reports. In case of emergency, the system automatically begins to stream vital information in real time, so that the ground crew knows where the aircraft is, what is happening onboard, and can offer assistance if possible.

To watch the video, please click here.

For more information about the Aviation Festival Asia, please click here.

 

Malaysian Flight Disappearances Spotlights FLYHT’s Technology

Over the weekend Canadian network, Global, featured FLYHT Aerospace’s AFIRS real-time data streaming technology aboard First Air, the first airline to adopt the Disappearance Proof technology. The three minute segment highlights the way in which the AFIRS system acts as a solution to track aircraft, stream vital black box data and improve on the already very safe airline industry.

Here are some highlights from the segment:

  • First Air is the only airline to adopt “Disappearance Proof” AFIRS real-time data streaming technology on its entire fleet of aircraft,
  • AFIRS technology is aboard more than 400 aircraft world-wide,
  • Under normal conditions AFIRS reports every five minutes, and when triggered by abnormal event data is transmitted every second,
  • Streaming event triggers include sudden changes in altitude, sudden turns, or loss of communication.

The disappearance of Malaysia Air 370 was noted as a perfect example of how FLYHT’s technology could have made a difference. “There would be a lot more information about what was going on with the aircraft at the time it went off the grid,” stated FLYHT CEO Bill Tempany.

Rounding out the interview Mr. Tempany stated, “We have a device that will get them the information when they need it, where they need it, and we hope to see a rapid increase in adoption.”

While the press and media have been focused on the company’s “FLY_150112_2flight following” technology, it is forgotten that this is just one of the many features of the system. The technology’s focus is “economics”, as its main thrust is aircraft systems monitoring, which has been proven to cut fuel and maintenance costs substantially. The one-time cost of AFIRS per aircraft is between $100,000 and $120,000, which includes the cost of hardware as well as the cost of installation.

FLYHT CEO Interview on BNN – Now Available Online

Earlier today, in response to Sunday’s loss of AirAsia flight 8501, FLYHT CEO Bill Tempany appeared on Business News Network and spoke with host Greg Bonnell about FLYHT’s Automated Information Reporting System (AFIRS™).

In the segment, Mr. Tempany discussed flight 8501 and how AFIRS works in an emergency situation.

Here are some key points from the interview:

  • Mr. Tempany started the interview by providing a brief overview of AFIRS, “The product was intended to help airlines improve operational efficiency and maintenance costs, provide communications tools to the crew, but it has the added benefit of being able to stream all of the data that is stored on the black box in real-time in the event of abnormal operating conditions.”
  • Following the introduction, Mr. Tempany continued by stating, “I firmly believe that the work going on today with the various industry groups around flight tracking and black box data transmission make our technology a timely discussion point in the industry.” He continued, “The intent of our product is to get information faster about where the aircraft might be, information about what may have caused the incident and to give the pilots the opportunity to communicate to try to get help if there is a problem.”
  • “We certainly believe that our technology would enhance the capability of both the Government Agencies and Airline to have better information at their fingertips so they know what’s going on,” stated Tempany.
  • When asked if he thought that the tragedies this year would speed up the regulatory process, Mr. Tempany rounded out the interview by stating, “We hope it does. We’re very active with all of the regulatory groups. As a regular flyer, I really hope it speeds up the regulation and airlines get onboard with this technology very quickly. It’s a concern for me that people don’t know where the aircraft is when I’m traveling around the globe.”
  • AFIRS has been in service for 7-8 years and is currently aboard 400 aircraft belonging to 45 Airlines. It was not installed aboard flight 8501

To view the BNN interview, please  click here.

FLYHT CEO To Appear On BNN

Tomorrow, Tuesday, December 30th at 12:40 (Eastern), FLYHT CEO Bill Tempany is scheduled to appear on Canada’s Business News Network (BNN). He will be interviewed by Greg Bonnell. The segment will discuss the ongoing search for the missing AirAsia aircraft, the continuing regulatory progress around flight tracking, and FLYHT’s Automated Flight Information Reporting System (AFIRS™).

On Sunday, December 28th AirAsia Flight QZ8501 disappeared between Indonesia and Singapore. The search continues for the aircraft and the 162 people onboard. FLYHT issued the following statement following the incident:

“FLYHT is following the development of the missing AirAsia A320, flight QZ8501. We are being asked whether the aircraft is equipped with the Automated Flight Information Reporting System (AFIRS™) FLYHTStream. It is not equipped with AFIRS FLYHTStream and we have no real-time information on the event. At this time our thoughts are with the crew, the passengers and the families of the missing aircraft, and we hope for the best outcome possible.” http://flyht.com/airasia-statement/

An archive of the interview will be available on BNN’s website (www.bnn.ca) approximately 30 minutes after the segment has aired.

FLYHT was also featured in a number of articles today:

CNN Money – Why planes don’t live stream data
The Independent – Missing AirAsia flight QZ8501: Anger grows over flight tracking lessons not learnt as Indonesian authorities conclude plane is on the seabed
CBC – AirAsia Flight QZ8501: Why airlines don’t live-stream black box data

FLYHT Announces Legendary Deal with Christmas Legend

The North Pole – December 23, 2014 – This morning, officials at Santa’s Workshop announced that an AFIRSTM 228 unit has been installed aboard Santa’s sleigh. Making use of the Iridium Satellite network, the AFIRS unit will track the worldwide distribution of Christmas toys and cheer. The addition of the AFIRS unit will enhance Christmas Ground Control (CGC) to Sleigh communication, track average stop duration and will track Mr. Claus’ progress against the flight plan. All cost savings realized by new efficiencies will be distributed to members of the “Nice List” in the form of additional Christmas cheer.

The deal, while fictitious in nature, is anticipated to generate a 10% increase in hearty chuckles and/or belly laughs from FLYHT supporters.

Following the announcement, FLYHT CEO Bill Tempany stated, “We are thrilled that such a trusted, longstanding industry leader has chosen to work with FLYHT. The AFIRS unit upgrades the sleigh’s current satcom capabilities to provide true worldwide coverage for voice, text and data communications, it allows CGC to track Mr. Claus’ progress and reindeer fuel consumption, and will automatically notify CGC of any unauthorized milk and cookies and/or mistletoe related stops.”

In response to the announcement, officials from Santa’s Workshop stated, “ Merry Christmas to all and to all a good FLYHT!”

AFIRS 228 Approved For Use On Popular Boeing 767’s

This morning, FLYHT announced that the AFIRS 228 has been approved by the Federal Aviation Administration (FAA) for use aboard the Boeing 767-200/300 series aircraft in the United States. The Supplemental Type Certification (STC) gives current and potential customers the option of adding AFIRS 228 to existing or new aircraft. According to Wikipedia, as of July 2014 there were 795 of the Boeing 767 variants in service around the world with several major US based airlines utilizing the aircraft in their fleets.

Airline Boeing 767 Variants
Delta Airlines 95
UPS Airlines 59
American Airlines 58
United Airlines 51
ABX Air 33

As of July 2014 – Wikipedia

An STC is the regulatory approval to make changes to an aircraft’s design. In FLYHT’s case, this approval is required to install AFIRS equipment onboard commercial aircraft. The approval process is extensive, however FLYHT is designated as a “Design Approval Organization” by Transport Canada Civil Aviation. Few organizations reach this status, which allows FLYHT to speed up the approval process by using internal resources rather than contractors. That being said, one STC approval from one regulatory body typically takes three or more months and can cost up to $280,000.

To date, FLYHT has nearly 60 STC approvals through five regulatory bodies on more than 20 types of aircraft and has received at least one STC for either AFIRS 220 or 228 on all models of Boeing commercial aircraft currently in production, with exception to the 787 Dreamliner.

To view the news release please click here.

CEMATRIX – No Surprises In Q3

CEMATRIX released its Q3 results this morning and although the third quarter sales were only $967,382, the majority of the Company’s revenues are expected and contracted in Q4 with a scheduled $5.2 million left to pour this year.

The cellular concrete specialists secured a record $6.8 million contract during Q3 and now has $17.3 million contracted between now and 2016.

CEO Jeff Kendrick was upfront with investors about the expected third quarter results and how sales were heavily weighted towards yearend when he spoke at our annual Opportunity Knocks Conference on November 6th in Montreal. Mr. Kendrick’s presentation can be viewed by clicking here.

To read today’s full news release click here.

FLYHT Featured in Venture Cap News – Orders Starting To Roll In From L-3 / Airbus

This morning, FLYHT was featured in an article in Venture Cap News – www.venturecapnews.com. The article highlights key discussion items from FLYHT’s recent third quarter conference call.

The key point addressed in the article was CEO Bill Tempany’s discussion around the company’s L-3 / Airbus rollout, “We are very excited to announce that we did receive an order from L-3 for Airbus factory installs and retrofits for delivery in November. It’s for 35 units and they will be delivered this month. The activities at Airbus have picked up substantially. The L-3 sales team is very excited about our prospects and the number of units we will be doing there and we will be recognizing revenue for at least those 35 in this quarter. So that’s a huge step forward.”

Bill also noted, “Some of our people were at a recent industry event and ran into some Airbus people. Airbus was very pleased with the quality of our work, the performance of the contract to deliver the AFIRS 228 to them for line fit and, in conversations after the sessions, said that it’s been one of the best programs that Airbus had run recently, the adoption of AFIRS for SatCom on the A320.”

The piece also discusses a recent Wall Street Journal article titled “Airliner Tracking to Become Norm”, where the writer acknowledges L-3 and Airbus “are ahead of the herd” (when it comes to implementation of airline tracking). To view the Wall Street Journal article, please click here.

To view the Venture Cap News article, please click here.

FLYHT CEO – 2015 Could Be A Perfect Storm

Following the overnight release of its Q3 financials, FLYHT management hosted a live conference call to update shareholders on the company’s progress. During the call, CFO Nola Heale reviewed the Q3 results and CEO Bill Tempany discussed a number of new items that could make 2015 a “Perfect Storm”. Those items included a significantly increased sales force, the development of the L-3 Communications and Sierra Nevada Corporation relationships and the pressing China SatCom mandate. Before opening the call to questions Mr. Tempany stated, “We are making progress on all fronts” and “I think 2015 is going to be an excellent year for us.”

Here are some highlights of the call:

  • Q3 revenue was the highest to date in 2014 at $1,808,794.
  • Recurring revenue increased to $927,117, up from $881,903 in Q3/13 and now represents 51% of revenue.
  • The company has made a fundamental shift from a development to a selling organization.
  • The sales force has grown from three to 15 over the past ten months.
  • L-3 Corporation has placed an order for 35 units from Airbus to be delivered in November.
  • Sierra Nevada Corporation has made its first two orders for a total of four units for delivery in Q4
  • Today FLYHT announced a new North American cargo customer. The company has two existing aircraft with AFIRS 220 and will add AFIRS to three additional aircraft. To view the news release please click here.
  • 40% of the Chinese fleet of aircraft must have SatCom capability by the end of 2015. Other than factory installed Inmarsat systems, FLYHT is the only satellite communication system that has been rolled out.
  • Q3 2014 saw FLYHT certified for the Airbus A320 family of aircraft, and FAA issued certification for the Hawker Beechcraft 700/800/900 model aircrafts. A large part of research and development expenses are attributed to gaining engineering certification for new aircraft.
  • In August, FLYHT strengthened its board by appointing Mr. John Belcher and Mr. Barry Eccleston, who have both been working to open doors for the company. During the quarter, Mr. Thomas French retired and the company welcomed Ms. Nola Heale as the new CFO.
  • FLYHT is investing in the ongoing regulatory discussions around flight tracking in order to be a part of the solution. Regulation is not expected to be a short term sales driver.

An archive of the conference call is available on FLYHT’s website, click here to access.

FLYHT Technology Gains Attention – NTSB & NOVA

FLYHT’s technology has been highlighted this month as a proven solution for airline safety through two very different sources: The National Transportation Safety Board (NTSB) and the Public Broadcasting Service (PBS).

On October 7th, a FLYHT Director presented AFIRS™ and FLYHTStream™ at an internationally attended forum on Emerging Flight Data & Locator Technology, staged by the NTSB – click here to view news release.

The following day, FLYHT’s technology made an appearance in a NOVA documentary called “Why Planes Vanish,” produced by the Public Broadcasting Servic (PBS).

The attention that FLYHT received in the NOVA broadcast was reminiscent of the Horizon program, “Where is Flight MH370?”, that was produced by BBC this past June – click here to view. Both programs effectively followed the MH370 tragedy and presented a compelling case stating that worldwide flight tracking is inadequate and that changes need to be made to prevent future tragedies. oth programs present solutions that are available today, such as FLYHT’s AFIRS technology.

The narrator of the NOVA special could not have been more clear when he commented, in reference to FLYHT technology, “If all airliners were equipped this way we would know a flight was in trouble even if the crew could not communicate by other means. And we would know its location. It could make searching for the black boxes a thing of the past.” The NOVA program presented AFIRS™ as a currently available, viable solution to make air travel safer.

To view the NOVA “Why Planes Vanish” special, please click here (FLYHT appears at the 46 minute & 40 second mark.)

FLYHT CFO Nola Heale Selected As 2014 Diversity 50 Board Candidate

FLY_141021Recently, FLYHT’s CFO Nola Heale was selected to the Canadian Board Diversity Council’s (the Council) prestigious Diversity 50 list of Canada’s most diverse and eligible board candidates.

The Diversity 50 is Canada’s only national database of qualified candidates for corporate board appointments that includes measures of diversity. The Council expands on the traditional qualifications/charactisteristics considered when selecting board members by including ethnicity, gender and aboriginal status. The Diversity 50 list is designed to help directors identify board-ready candidates beyond their own networks.

“It is an honour to be chosen as a member of such a prestigious group of individuals,” commented Ms. Heale. “Diversity on corporate boards and in executive management is an area currently receiving significant attention both in Canada and around the world and I support the Council’s effort to increase diversity as a way to add value to organizations.”

The Diversity 50 database allows for the search of 78 specific fields such as industry experience, functional area of expertise and gender. Like as in any search for a new director, the onus remains on a board’s nominating and governance committee (and their executive search firm) to exercise due diligence and assess the potential candidate’s credentials against the board’s requirements.

This year’s candidates hail from eight provinces. For a summary of biographical and professional information for each 2014 Diversity 50 candidate visit the CBDC website at http://www.boarddiversity.ca/diversity-50.

CEMATRIX Lands Record $6.8 Million Contract

CEMATRIX announced today that it has received a record $6.8 million contract along with several other recent orders for a total of $8.4 million. These new orders bring this year’s total contracted work to a record $14.7 million. To put this into perspective, the company achieved just over $8 million in sales for all of 2013.

CEMATRIX has been working to replace lost revenues from the economic crash in late 2008, when the company was solely focused in the oil sands and refinery business, and has done an impressive job since introducing its specialty solutions to the always active infrastructure market.

As the oil sands and refinery work continue to recover, CEMATRIX should benefit from its past efforts and successes in this area once again.

To view today’s news release, please click here.

BNN Portfolio Manager on FLYHT – “Table Pounding Buy”

Yesterday on BNN’s Market Call Tonight, in response to a question about FLYHT, Arrowhead Capital portfolio manager, Alex Ruus called FLYHT one of his “table pounding buys”, citing a “huge opportunity” for a couple of different reasons, being that FLYHT offers what he called “smart” black boxes, which allow constant tracking of aircraft and, as well,FLYHT offers high Return on Investment (ROI) products that allow airlines to improve efficiencies and save money.

This morning it appears the market has taken note to Mr. Ruus’s two minute commentary on FLYHT. As of the writing of this blog, the share price has increased by nearly 9% to $0.43, with more than 1.8 million shares having traded.

Click here to view clip, FLYHT is mentioned at the 38 minute 46 second mark.

FLYHT Q2 Conference Call – CEO Expects Strong Second Half

FLY:TSX-V

On this morning’s FLYHT second quarter conference call, CEO Bill Tempany addressed a number of topics and questions around the release of Q2 financials and business activities. Right out of the gate, Mr. Tempany commented on the weakness in revenues experienced in Q2. Quarterly revenue was $1.5 million, down 30% from last year’s Q2 results of $2.2 million. The company however, is ahead of Q1, which would indicate it is headed in the right direction. Recurring revenues increased slightly to ~$893,000 from last year’s ~$846,000 and it was explained that this should improve in Q3 as customers that had been shut off due to nonpayment have restarted and a customer in the middle of a fleet switch is up and running again.

Mr. Tempany noted that in Q2/2013, the company recognized significant orders from First Air and NetJets, which accounted for the strong second quarter in 2013. He emphasized that the third and fourth quarter of this year are looking to be very strong as the company has shipped more AFIRS units in July than in the entire second quarter.

Throughout the call, Mr. Tempany addressed a number of other items:

  • He believes FLYHT is on track to be operations positive (EBITDA with IR and share based compensation removed) by the end of 2014.
  • The company has approximately $5 million in modified working capital.
  • The settlement with Sierra Nevada Corporation (SNC) has allowed the company to eliminate nearly $2 million in debt. The SNC relationship opened a new market to FLYHT. SNC will lead sales in the United States and NATO military and government manned and unmanned aircraft markets.
  • An initial regulatory report on aircraft tracking by the International Civil Aviation Organization is anticipated in late September and FLYHT will ensure it meets regulatory requirements as they are developed.
  • On the sales front, there has been a great deal of activity in Asia. The company has hired a Singapore based sales person based on identified opportunities in the region. FLYHT is planning to add one or two full time sales positions.
  • The company is in discussions with Bombardier and other OEM’s with the objective of having AFIRS become a standard feature on aircraft.
  • Mr. Tempany expressed that although its L-3 relationship has been successful and a good one, he believes that FLYHT does not require a third party to gain direct access to manufacturers. He is confident that the company is at the point where it can have those conversations directly with the manufacturers.
  • When asked about progress in China, Mr. Tempany stated that FLYHT has already shipped 50 units and that the Company is the only certified Iridium provider in China.
  • The company in Q2 launched FLYHTSafe, a new safety notification solution. Investors should expect to see more service add-ons being launched in Q3 & Q4, which will improve efficiencies and communications for aircraft and allow FLYHT to earn additional usage fees.
  • In regards to the increase in expenses, it was explained that there will be a continuation of Investor Relations efforts focusing on U.S. and International investors and the company has experienced an increase in travel expenses as a result of ensuring that FLYHT has a presence at all the industry related meetings. Also, the reported R&D spending is a result of the continuation of securing AFIRS 228 Supplemental Type Certifications, which will continue for at least three years.

To listen to the conference call, please click here.

CEMATRIX Releases Q2 Results

CEMATRIX released its second quarter financial results this morning for the period ending June 30, 2014. Sales increased 10% over last year, reaching $3,070,504 with gross margin also slightly up over the same period year over year. Over the second quarter, the company added $1.3 million of sales orders bringing the annual amount of work under contract for 2014 to $4.5 million.

The six month reporting compared to last year saw net revenue decrease by roughly $1.5 million. This decrease can be attributed to an extraordinary Q1/13 that saw a number of 2012 projects extended into and completed in the new year.

The release also highlights management’s positive outlook for the rest of 2014, citing anticipated growth in Canadian and U.S. infrastructure sales as well as continued growth in the Western Canada oil and gas sector. In addition to the $4.5 million of work contracted for 2014, numerous other bids have been placed on projects that, if won, will result in additional work to be completed in 2014.

To view CEMATRIX’s news release, please click here.

– Brad Dryer
Jeff Walker