Opinions
Robert McWhirter
Flyht Aerospace Solutions
FLY-X
BUY
Oct 09, 2013
Stock price when the opinion was issued
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A frustrating stock. Here it's a buy. Super-promising business. Provide streaming of data to the ground, which saves customers money. Major developments in last 6 months that are pushing the company forward. Westjet became their first tier-one customer, so this is the crack in the door.
Profit of 1c per share beat estimates of -1c.
Revenue of $7.2M beat estimates by 11.4%. EBITDA was positive $1.17M vs an expected loss of $305,000. Sales rose 186% so certainly a nice improvement. Margin was 67% up from 49.5%.
Profit was the highest in three years as the airline sector recovered from covid.
All four categories grew in the quarter.
Considering some macro and cost pressures, this was a good quarter.
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This is his 8th largest holding. Use satellites for communications, allowing communications with airplanes at the extreme poles as well as in the Caribbean section. Received approval from FAA for garden-variety carriers. Currently looking for approval with Airbus to install devices as new equipment into their fleet. If successful, this will become a recurring revenue story.