Calgary, Alberta – April 7, 2015 – 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 the fourth quarter and its year end December 31, 2014.
Bill Tempany, CEO stated: “In spite of a tumultuous year for the airline industry, which did impact our anticipated sales growth, we made significant advances with industry partners and regulators in 2014. Of note was our participation in numerous industry group discussions around emerging flight tracking regulations and the strong reception that our technology received when demonstrated at numerous industry events. We have also made important inroads with our strategic partners, with key STC approvals and the rejuvenation of our relationship with Sierra Nevada Corporation. Although 2014 may not have been a record year when it comes to revenue, we are encouraged by progress we have made.”
“Also of important note is that thanks to our supportive shareholders we were able to extend our convertible debenture which has allowed us to start the year in a strong cash position of $3.9M,” concluded Mr. Tempany.
Fourth Quarter Highlights Include:
Year Highlights Include:
Detailed information in FLYHT’s 2014 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://www.cn.flyht.com/investors/financial-reports-results-centre/. 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 and year end results on
Wednesday, April 8, 2015 at 9 am MDT (11 am EDT, 8 am PDT).
To access the conference call by phone within Canada and the U.S. the toll-free number is 1-800-319-4610. Outside Canada and the U.S., dial 1-604-638-5340. (Callers should dial in five to 10 minutes prior to the scheduled start time). A copy of the presentation will be available on FLYHT’s website for investors to follow along at http://cn.flyht.com/investors/videos/.
Management will accept questions by telephone and e-mail. Individuals wishing to ask a question during the call can do so by pressing *1. Also questions can be forwarded in advance or during the conference call to email@example.com.
An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website (www.cn.flyht.com) as soon as it is available.
About FLYHT Aerospace Solutions Ltd.
FLYHT provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRS™ UpTime™, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real time. If an aircraft encounters an emergency, FLYHT’s triggered data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The Dragon is FLYHT’s latest product, a revolutionary light weight portable satellite communications device that blends existing FLYHT technology with that of the iPad.
AFIRS, UpTime, the Dragon, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.
FLYHT Aerospace Solutions Ltd.
Nola Heale, CA
Chief Financial Officer
The Howard Group Inc.
(888) or (403)-221-0915
Bristol Institutional Relations
Kin Communications Inc.
(866) or (604) 684-6730
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