TSX Venture: FLY
Shares Issued: 140,386,166
Fully Diluted: 179,132,626
For those of you who missed it, or for those that would like to listen again, FLYHT has posted its conference call which was held earlier today (Thursday, April 11, 2013). At the beginning of the call, Bill Tempany, President & CEO of FLYHT, provided listeners with a few points on the significant changes currently occurring in the aviation industry which are supporting interest in FLYHT and its AFIRS 228 technology. Some of these changes include:
- Air traffic control systems in the US and Europe and the need for safety certified products.
- Demand by flight crews to use iPads and other technologies in the cockpit and the need for them to be connected.
- Certification of the Iridium Network for safety services messaging.
- Reduction in Research and Development and increase in sales for the year.
- Overall sales increased in Q4 2012 over 2011 by 38% to 2.2 million.
- Recurring revenue increased 4.7% for 2012.
- Unearned revenue saw an increase of $820,000 in recognized revenue over 2011.
- Shipped over 400 AFIRS units in total, approximately 250 of which are generating monthly fees.
- Opportunities in Nigeria, China, Airbus and Bombardier were also discussed in detail.
To listen to the full conference call, please click here