Friday, 3 May 2013

FLYHT Receives Order For Seven AFIRS Units

FLYHT Aerospace Solutions Ltd. 
TSX Venture: FLY
Shares Issued: 140,386,166
Fully Diluted: 179,132,626
Chalk up the sale of another seven units. This time an unnamed “major avionics integrator” has ordered AFIRS 228’s for seven Lockheed C-130 Hercules aircraft. The value of the hardware portion of the deal is in excess of $250,000 for AFIRS 228 units, as the integrator provided wiring etc. as part of their work. The service agreement has yet to be negotiated, however using the 2012 average revenue per aircraft of $1,348 (according to its April 2013 investor presentation, slide 16) the overall monthly revenue could be just under $10,000.
FLYHT states in the news release, “Globally there are more than 5,000 C-130 aircraft in operation and a majority of those aircraft will likely require avionics upgrades in the next few years.”
Management believes C-130 upgrade program can be a significant sales driver. According to its April investor presentation (Slide 21) the C130 upgrade program is what the company calls one of four “Company Making Opportunities”.
To view the April 2013 presentation, please click here.
To view today’s news release, please click here.