Will there be profit in Q1, 2018?In the Q4 Update we see the following statement:
“At the end of November 2017, the sales order backlog for AFIRS kits and voice and data services exceeded $27 million.”
https://flyht.com/flyht-provides-fourth-quarter-2017-update/ In the Q1 Update we see the following:
“… an aggregate USD $2.9 million in new sales contracts and purchase orders during the first quarter of 2018.”
https://flyht.com/flyht-provides-first-quarter-2018-update-announces-fourth-quarter-conference-call/ In Canadian dollars this amount is roughly $3.7 million, giving sales orders of around $30 million.
Also, in the Q1 update we see:
“At quarter end, the sales order backlog for AFIRS kits and voice and data services exceeded $26 million.”
This seems to give FLYHT around $4 million in earned revenue for the quarter. The question is, was there more revenue from other sources?
I then looked at Flyht’s profitable quarters. I discounted Q2, 2016, since the profit came from the one-time licence payment. For Q3 and Q4, 2016, they managed profit on around $4 million in each case. For Q1, 2017 they received a (small) profit on $3.7 million. So, a profit in Q1, 2018 is on the cards, depending on their expenses.
Comments on this are welcome.
Piper