Calgary, Alberta – April 10, 2019 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today reported financial results for the fourth quarter and full year ended December 31, 2018.
“In 2018, we made improved operational progress at FLYHT as we laid the proper groundwork for growth in 2019 and beyond,” said CEO Thomas R. Schmutz. “The annualized doubling of our SaaS revenues in October 2018 and the growth of our sales order backlog to over $60 million at year end demonstrates continued improvement in our financial performance.”
Fourth Quarter 2018 Results
Full-Year 2018 Results
FLYHT’s balance sheet ended the year with:
FLYHT’s 2018 Annual Report, which contains more detailed information including 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://flyht.com/financial-reports/. The MD&A and Financial Statements have also been filed with SEDAR and will be accessible at www.sedar.com.
FLYHT will host a live conference call to discuss its fourth quarter and full year 2018 financial results on Thursday, April 11, 2019 at 7 am MDT (9 am EDT, 6 am PDT). The conference call will include a brief presentation about FLYHT’s fourth quarter and full year financial results followed by a question and answer period with management.
To access the conference call by phone within Canada and the U.S.A., the toll-free number is 1-800-319-4610. Outside Canada and the U.S.A., dial 1-604-638-5340. (Callers should dial in five to 10 minutes prior to the scheduled start time).
Management will accept questions by telephone and e-mail. Individuals wishing to ask a question during the call, can do so by pressing *1. Questions can be emailed in advance or during the conference call to firstname.lastname@example.org.
An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider.
About FLYHT Aerospace Solutions Ltd.
FLYHT’s mission is to improve aviation safety, efficiency and profitability. Globally, and for more than 20 years, airlines, leasing companies, fractional owners and original equipment manufacturers have installed FLYHT’s differentiated aircraft and enterprise-based solutions to deliver real-time, flight-deck, satellite connectivity for tracking, health monitoring, and streaming of operational, maintenance and weather data. FLYHT is publicly traded as FLY in Canada on the TSX.V; and as FLYLF in the USA on the OTCQX. FLYHT is based in Calgary, Canada with an office in Littleton, Colorado and is an AS9100 Quality registered company. For more information visit www.flyht.com.
Chief Financial Officer
|Canada Investor Relations:|
Adelaide Capital Markets Inc.
|USA Investor Relations:|
Matt Glover or Charlie Schumacher
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1 EBITDA: defined as earnings before interest, income tax, depreciation and amortization (a non-GAAP financial measure).