Calgary, Alberta – May 8, 2019 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today reported financial results for the quarter ended March 31, 2019.
“Objectively this was the best financial quarter in the Company’s history,” said CEO Tom Schmutz, “we demonstrated excellent organic growth and more than doubled our SaaS revenues from Q1 2018.”
First Quarter 2019 Results
FLYHT’s balance sheet ended the quarter with:
FLYHT adopted the requirements of IFRS 16 – Leases effective January 1, 2019 using the modified retrospective approach, which can be seen in several areas of the Q1 2019 financial statements, including:
FLYHT’s Q1 2019 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 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 9, 2019 at 2:00 PM (MDT) at Telus Convention Centre – Room GLEN05, 120 – 9th, Avenue SE, Calgary, Alberta T2G 0P3.
FLYHT will not host a live conference call to discuss 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 the Presentations and Webcasts section of FLYHT’s website http://cn.flyht.com/presentation-and-webcast/AGM2019 starting at approximately 2:15 pm MDT. An archive video of the meeting will also 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 (MDT) on May 9 will be answered during the meeting. Questions can be emailed to firstname.lastname@example.org.
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.cn.flyht.com.
|FLYHT Aerospace Solutions Ltd.|
Chief Financial Officer
|Canada Investor Relations:|
Adelaide Capital Markets Inc.
|USA Investor Relations:|
Matt Glover or Charlie Schumacher
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 EBITDA: defined as earnings before interest, income tax, depreciation and amortization (a non-GAAP financial measure).