FLYHT Q4 2015 Conference Call Now Available Online

FLYHT hosted its yearend earnings conference call yesterday. Tom Schmutz, CEO of FLYHT discussed the company’s strong financial performance in 2015, which was capped off with record revenues in Q4 2015 with revenues of ~ $3.8MM representing an increase of 69% increase over Q4 2014.

Here are some highlights the call:

• Select financial results:
  • FLYHT had three quarters in 2015 with record revenues – Q4, Q1 and Q3.
  • 2015’s revenue of ~ $10.5MM represents an increase of 51.9% over 2014.
  • Recurring revenue (voice and data services) was ~ $4MM, an increase of 9% over 2014, and AFIRS sales ~ $3.4MM, an increase of 54%
  • Gross profit for 2015 was 69.3% of revenue compared to 62.9% in 2014.
  • Cash flow breakeven in Q4 2015.

• Mr. Schmutz touched on some of the company’s accomplishments during the past year which included:
  • Signing the largest deal in company history with Avmax Group.
  • Effectively transitioned executive control of the company.
  • Appointment of industry veteran David Perez to revitalize and lead the sales team.
  • Expanded sales team and standardized sales processes and materials.
  • Won awards in the industry and in the community.
  • Enhancing its board of directors with the appointment of retired USAF Major General Mark V. Rosenker, former chairman of the National Transportation Safety Board (NTSB).
  • Participated in several International Civil Aviation Organization (ICAO) and IATA conferences and continues to monitor industry discussions on aircraft monitoring.
  • Significant amount of time invested in R&D completing safety services TSO on AFIRS product and continue expansion of STC’s for AFIRS 228
  • Signed a non-exclusive technology licensing agreement with an unnamed technology company.
  • Continued sales growth in China.

• He acknowledged the on-going challenges and opportunities in the industry such as:
  • Industry regulation.
  • Increasing demand for air travel in China and Southeast Asia.
  • Aviation industry still slow to adopt change.
  • Opportunity to significantly grow the company’s licensed OEM revenue.

• Mr. Schmutz shared some of the company’s goals for 2016 such as:
  • Significant investment in the development of cloud based suite of products in R&D with a targeted late 2016 roll out.
  • Launch of a 24/7 call center.
  • Establish aggressive sales goals and control expenditures.
  • Continue sales growth and relationship building in China.
  • Engage in several conversations to satisfy the obligations on the June debentures.

To listen to the conference call in its entirety, please click here.