Calgary, Alberta – May 10, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”), the leading provider of real-time data streaming and communication technologies in the aerospace industry, has reported financial results for the first quarter ended March 31, 2017.
“FLYHT is pleased with our first quarter results and the Company’s improved cash position,” stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. “We achieved $218,156 in EBITDA and a 43% improvement in revenue over the comparable 2016 period. In addition, we announced nearly $6 million of direct contract sales in the quarter, starting the year strong in sales.”
First Quarter highlights include:
Detailed information in FLYHT’s 2017 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 http://cn.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’s Annual and Special Meeting will be held on May 10, 2017 at 2:00 PM (MT) at Fort Calgary – JOW Gallery 750 – 9th Avenue SE, Calgary, Alberta.
FLYHT will not host a live conference call about the first quarter results, however, will provide an update through a live video feed of the Company’s Annual and Special Meeting. The video will be available on FLYHT’s Facebook page, www.facebook.com/flyht starting at approximately 2:15 pm MT. The video will be accessible to those with a Facebook account. An archive video of the meeting will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available. http://cn.flyht.com/presentation-and-webcast/
Questions submitted to management by e-mail before 1:00 pm (MT) on May 10 will be answered during the meeting. Questions can be emailed to email@example.com.
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 2.5 million aggregate flight hours and 1.7 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).