Calgary, Alberta – May 10, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) a leading provider of real-time data communications technology for the aviation industry today reported financial results for its first quarter ended March 31, 2016.
“FLYHT reported the second-highest revenue on record and made shipments that we anticipate will position FLYHT for a strong second quarter,” stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. “The value of AFIRS units that we shipped during the first quarter was a new record high for the Company.”
First Quarter Results Include:
For detailed information, FLYHT’s 2016 First 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 https://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 not host a live conference call as the first quarter results will be discussed at the Annual General Meeting (AGM) on May 11, 2016 at 10:00 AM (MT) at Fort Calgary – JOW Gallery 750 – 9 th Avenue SE, Calgary, Alberta.
The archive of the AGM, which will include the first quarter review, will be posted on the Presentations and Webcasts section of FLYHT’s website https://flyht.com/investors/videos/ as soon as it is available.
Questions can be forwarded in advance of the meeting to firstname.lastname@example.org.
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 (AFIRSTM), 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 UpTimeTM 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.
FLYHT Aerospace Solutions Ltd.
Nola M. Heale, CPA, CA
Chief Financial Officer
The Howard Group Inc.
(888) or (403)-221-0915
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2021 FLYHT Aerospace Solutions Ltd.