Calgary, Alberta – April 8, 2020 – 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, 2019.
“In 2019, we finished the year with a positive million dollars in EBITDA and annual revenues that exceeded $21 million dollars. It was a very encouraging year where we earned nearly fifty percent of our revenues in recurring Software as a Service revenues,” said CEO Thomas R. Schmutz. “Our challenge now is to protect our cash and weather this incredibly challenging COVID-19 pandemic.”
Fourth Quarter 2019 Results
Full-Year 2019 Results
FLYHT’s balance sheet ended the year with:
FLYHT’s 2019 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 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 will host a live conference call to discuss its fourth quarter and full year 2019 financial results on Thursday, April 9, 2020 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 email@example.com.
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 improves aviation safety, efficiency and profitability by providing airlines, leasing companies, owners, operators and original equipment manufacturers with real-time insights into how their aircraft are performing. The company’s products include AFIRS™ (Automated Flight Information Reporting System), a satellite communications (Satcom) aircraft interface device (AID) which enables real-time streaming of flight information, aircraft tracking and health monitoring, fuel management, and black box data streaming, as well as TAMDAR™ (Tropospheric Airborne Meteorological Data Reporting), which aggregates and streams airborne weather data in real-time. FLYHT is headquartered 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
Adelaide Capital Markets Inc.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 EBITDA: defined as earnings before interest, income tax, depreciation and amortization (a non-GAAP financial measure).