FLYHT Aerospace Solutions Ltd. (TSXV: FLY) has announced it will be fulfilling a $2.43 million USD order for one of its returning Original Equipment Manufacturing customers.
As per the current agreement, FLYHT will develop its AFIRS 228S – an automated flight information reporting system, which will then be licensed by the OEM customer and delivered to Europe for further retrofitting. FLYHT will be responsible for the product shipping in 2020, and is therefore anticipating similar licensing revenues to that of 2019.
FLYHT is a Canadian company focused on providing aircraft companies with aircraft performance insight technology. The company recognized revenues of $16.8 million for the nine month period ended September 30, 2019.
FLYHT Aerospace Solutions Ltd is currently trading at $1.61 on the TSX Venture.
Information for this briefing was found via Sedar and FLYHT Aerospace Solutions Ltd. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.