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FLYHT Reports 2013 Year End Results

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floydborga Member Level  Monday, 04/14/14 07:09:46 PM
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FLYHT Reports 2013 Year End Results

Bill Tempany, CEO stated: “2013 was a year of milestones for FLYHT during which we grew year over year revenues by 23.7% to over $8.0M. New contract wins, new customers, new certifications and more trials positioned FLYHT for considerable growth in the years to come.”

“As we geared up to service the Chinese install in Q4, our expenses increased in order to deal with associated documentation and marketing costs. Furthermore in Q4, there were associated expenses for releasing our new product, the DragonTM.”

“Our progress and anticipated ramp-up in our business did not go unnoticed by our supportive and loyal shareholders, many of whom participated in exercising warrants in order to assist FLYHT with the need for growth capital. We took in over $6.1M during Q4 and at year end had a cash position of $5.2M, which is more than sufficient to meet our financial needs for planned growth in 2014 and beyond.”

http://flyht.com/flyht-reports-2013-year-end-results/#more-4055


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