Calgary, Alberta – April 4, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) a leader in real-time data and communication technologies in the aerospace industry has reported financial results for the quarter and year ended December 31, 2016.
“FLYHT made notable progress in 2016; we reported three straight, record-setting quarters,” stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. “We had $2.5 million in EBITDA and a net profit for the first time in history, a 37% increase in revenue over 2015, paid off $5.4 million in debentures, rolled out a new software platform and signed several new sales contracts. We are happy to celebrate these results with our shareholders and partners.”
Fourth Quarter highlights include:
Year Highlights Include:
Detailed information in FLYHT’s 2016 Annual 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 http://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 fourth quarter results on Wednesday, April 5, 2017 at 9 am MDT (11 am EDT, 8 am PDT). The conference call will include a brief presentation about FLYHT’s fourth quarter and year end 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. http://flyht.com/presentation-and-webcast/
About FLYHT Aerospace Solutions Ltd.
FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 70 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 2.4 million aggregate flight hours and 1.6 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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 EBITDA: defined as earnings before interest, income tax, depreciation and amortization (a non-GAAP financial measure).
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