2011 Q4/yearend presentation


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FLYHT's 2011 Q4/yearend presentation

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2011 Q4/yearend presentation

  1. 1. AeroMechanical Services2011 Q4 / Yearend Results
  2. 2. DisclaimerForward Looking Statements This discussion includes certain statements that may be deemed “forward-looking statements” that are subject to risks and uncertainty. All statements, other than statements of historical facts included in this discussion, including, without limitation, those regarding the Company’s financial position, business strategy, projected costs, future plans, projected revenues, objectives of management for future operations, the Company’s ability to meet any repayment obligations, the use of non-GAAP financial measures, trends in the airline industry, the global financial outlook, expanding markets, research and development of next generation products and any government assistance in financing such developments, foreign exchange rate outlooks, new revenue streams and sales projections, cost increases as related to marketing, research and development (including afirs 228), administration expenses, and litigation matters, may be or include forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on a number of reasonable assumptions regarding the Canadian, U.S., and global economic environments, local and foreign government policies/regulations and actions and assumptions made based upon discussions to date with the Company’s customers and advisers, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include production rates, timing for product deliveries and installations, Canadian, U.S., and foreign government activities, volatility of the aviation market for the Company’s products and services, factors that result in significant and prolonged disruption of air travel worldwide, U.S. military activity, market prices, foreign exchange rates, continued availability of capital and financing and general economic, market, or business conditions in the aviation industry, worldwide political stability or any effect those may have on our customer base. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to have been correct. The Company cannot assure investors that actual results will be consistent with any forward-looking statements; accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are current only as of the date of this document. The Company disclaims any intentions or obligation to update or revise any forward-looking statements or comments as a result of any new information, future event or otherwise, unless such disclosure is required by law. www.flyht.com AMA : TSX-V
  3. 3. AFIRS Contracts2011• 31 contracted aircraft in North America, Europe,Africa and the Middle East 24 – AFIRS 220 7 – AFIRS 228• Two operations command centres in Nigeria2012• Canadian carrier for 19 aircraft• NetJets Europe for 30 HBC aircraft
  4. 4. • AFIRS 228B to be 228U by 2013• Largest fractional business jet operator• 30 Hawker Beechcraft• $1.5 million up front• $6 million five year contract
  5. 5. Recognition in 2011• FLYHTStream demonstration for the Bureau d’Enquetes et d’Analyses (BEA)• Receipt of European and Chinese Patents• Extension of Iridium frequency bandwidth approval for satcom in China• Alberta Export Award in the Advancing Technologies category
  6. 6. One Million Flight Hours• On March 9, 2012 AFIRS flew its one millionth flight hour on customers’ aircraft
  7. 7. AeroMechanical Services Name ChangeProposal for shareholder vote:FLYHT Aerospace Solutions Ltd.FLY symbol reserved on the TSX.V TSX.V: AMA
  8. 8. AFIRS 228B Progress• Hardware completed• Testing and certification complete• New customers added• Demonstrated real-time functionalities• Generating revenue
  9. 9. AFIRS 228S Progress• Alpha hardware completed• Beta hardware ready May 1• 65 unit backlog• Install a 228B and do box swap to 228S• Pending certification is on time, first commercial installation in Q4
  10. 10. Key Figures In $ millions Q4- 2011 Q4-2010Revenue $ 1.60 $ 1.42R&D $ 0.87 $ 1.54 FY 2011 FY 2010Revenue $ 5.47 $4.69R&D $ 3.33 $ 5.76
  11. 11. Net LossIn $ millions FY 2011 FY 2010Net Loss $ 6.54 $ 8.98Loss without R&D $ 3.22 $ 3.22
  12. 12. Financial Review• Nonrefundable customer deposits: amounts received for AFIRS sales and parts that have not yet shipped to the customer Balance, December 31: $980,955• Unearned revenue: after a kit ships the customer deposit is moved into unearned revenue – these amounts are nonrefundable Balance, December 31: $1.90 million• Revenue is recognized when the customer has installed and is using AFIRS $2.19 million moved from unearned revenue in 2011 and is included in the $5.47 million recognized revenue
  13. 13. Financial SummaryDebt and Working Capital as of Dec. 31, 2011•Modified working capital ($278,509)•Long term debt $ 2.95 millionCapitalization: Shares Outstanding as of Apr. 10, 2011•Basic 118.6 million•Fully diluted 143.6 million•Management, directors, officers > 5.5%
  14. 14. Thank you• Conference call: Wednesday, April 11, 2pm MT (4pm ET)• Canada & USA Toll Free Dial In: 1-800-319-4610• Outside of Canada & USA call: +1-604-638-5340