Wednesday, 8 May 2013

FLYHT Conference Call Now Available Online


FLYHT Aerospace Solutions Ltd.
TSX Venture: FLY
Shares Issued: 140,386,166
Fully Diluted: 179,132,626
**********************

For those who missed FLYHT’s first quarter conference call, it is now available on FLYHT’s website.

Here are some key highlights from the conference call:
  • FLY is pleased that revenue continues to grow while R&D expenses are tracking down as planned.
  • Overall revenue increased 54% to $1,717,136 compared to Q1 last year.
  • Sales revenue increased 317% and services revenue increased 320% compared to the same period last year.
  • Net loss for the 1st quarter fell by $1.2 million compared to last year.
  • AGM was yesterday and it was recorded. Expect to see it on FLYHT’s website tomorrow (Thursday May 9th).
  • Final tranche of financing is expected to close in the next week or two.
  • Still on track to be cash flow positive by the end of this year.
  • Aireon (Iridium and NAV CANADA) will be flight tracking using the new Iridium system, which is to be launched in 2015 -2016. FLY is working with them to be part of that solution.
  • Pilots are starting to use iPads as electronic flight bags in the cockpit and FLYHT is selling data connectivity to them.  
  • NetJets has gone live with three AFIRS units. 10 in total are expected to be activated in the next three or four weeks.
  • Four major opportunities for FLYHT:
1.       L-3 contract to supply Airbus;
2.      Mandate in China to have sat-com on all aircraft by the end of 2016;
3.      C-130 upgrade program and  working with four integrators;
4.      Business aircraft market, primarily with NetJets.
To listen to the archive of the conference call, please click here.