 |
Back to Press Releases | 
- Company achieves record quarterly revenue and EBITDA
TORONTO, CANADA — October 30, 2008 — GuestLogix Inc. (TSX-V: GXI), the leading provider of onboard retail solutions to the airline industry, announces its operational and financial results for the three- and nine-month periods ended August 31, 2008. All results are reported in Canadian dollars.
Operational Highlights
- Grew number of revenue-producing customers to 19, up from 15 as at May 31, 2008, and 11 as at August 31, 2007
- Signed contracts with:
- US Airways (NYSE: LCC), America's fifth largest domestic carrier
- WestJet (TSX: WJA), Canada's leading low-cost carrier
- Saudi Arabian Airlines, a major Middle Eastern carrier
- Completed deployments with:
- Spirit Airlines, the largest ultra low-cost carrier in the U.S., Latin America and the Caribbean
- Brussels Airlines, Belgium's leading airline group, 45% owned by Lufthansa (FRA: LHA)
- Alaska Airlines (NYSE: ALK), the ninth-largest U.S. airline based on passenger traffic
- AirAsia X, a Malaysia-based long-haul budget carrier, owned by Air Asia and the Virgin Group
- Commenced deployment on Europe's leading low-cost airline, Ryanair (NASDAQ: RYAAN)
- Signed partnership agreement with:
- Newrest Group's ILC and Saudi Arabian Airlines Catering Company ("SAAC") to deploy GuestLogix' platform onboard SAAC's airline customers
- Broadway Inbound, a division of major New York City ticketing agency, Shubert Ticketing, to offer Broadway tickets on flights to New York City
- Thales, a worldwide provider of passenger entertainment systems, to integrate Mobile Virtual Store™ technology with the TopSeries Inflight Entertainment System
Key Metrics
| (All figures presented on an annualized basis) |
Q3 2008 |
Q2 2008 |
| Passenger trips under agreements |
617 million |
584 million |
| Passenger trips deployed at quarter end |
218 million |
215 million |
| Average passenger trips deployed |
215 million |
202 million |
| Average revenue per passenger trip |
5.7 cents |
3.6 cents |
| Average revenue per passenger trip Americas |
4.3 cents |
2.8 cents |
| Average revenue per passenger trip Europe and Asia |
7.9 cents |
7.9 cents |
- - - - -
Q3 Fiscal 2008 Financial Highlights
| |
Three months ended
Aug 31, 2008 |
Three months ended
Aug 31, 2007 |
Nine months ended
Aug 31, 2008 |
Nine months ended
Aug 31, 2007 |
| Revenue |
$2,417,288 |
$1,455,755 |
$5,647,855 |
$3,852,329 |
| EBITDA(1) |
$62,157 |
$(214,001) |
$(266,040) |
$322,513 |
| Net Income (Loss) |
$(650,484) |
$(1,178,091) |
$(2,309,416) |
$(2,669,182) |
| Net Income (Loss)/Share |
$(0.01) |
$(0.04) |
$(0.04) |
$(0.09) |
| |
|
|
| |
As at Aug 31, 2008 |
As at November 30, 2007 |
| Cash and Cash Equivalents |
$4,000,343 |
$5,989,024 |
Including restricted cash (1) |
$5,740,807 |
$7,014,414 |
As at August 31, 2008, total shares issued and outstanding were 54,270,740
"With record revenue and EBITDA for the quarter, Q3 was a period of solid financial performance," said Tom Douramakos, President and CEO of GuestLogix. "We successfully leveraged our channel partnerships to accelerate growth of our customer base, signing Brussels Airlines through LSG SkyChefs and Saudi Arabian Airlines, our first client in the Middle East, through Newrest. As a result of our customer wins in the quarter, we now have a more expansive geographic footprint, further solidifying our global market leadership position."
FY 2008 Outlook
Subsequent to quarter end, GuestLogix completed deployment onboard America's leading low-fare carrier, Southwest Airlines (NYSE: LUV), adding more than 100 million passenger trips annually. GuestLogix also commenced deployment with US Airways (NYSE: LCC), which, upon completion, will add approximately 58 million passenger trips annually.
"We continue to effectively execute on our strategy, even in the face of a turbulent economic environment," added Mr. Douramakos. "With a backlog of 399 million passenger trips, our deployment pipeline is strong. Through direct sales efforts and our channel partner relationships, we are extending our reach into new geographic regions such as the Middle East, the Mediterranean, Eastern Europe, South America and Asia Pacific. Including our contract wins announced to date, we have 21% of the world's airline passenger traffic under agreement. The airline industry's shift toward driving ancillary revenue growth is gaining momentum, and we believe we are well positioned to capitalize on these market opportunities and drive improved financial performance in the coming quarters."
Financial statements and MD&A will be available at www.guestlogix.com and www.sedar.com.
(1) See GuestLogix' MD&A and Financial Statement filed on October 30, 2008, for complete definition.
Notice of Conference Call
GuestLogix will host a conference call Thursday October 30, 2008, at 4:30 p.m. Eastern Standard Time to discuss its third quarter fiscal 2008 financial and operational results and its outlook for the balance of 2008. To access the conference call by telephone, dial 416-644-3433 or 1-800-814-4857. The conference call will be archived for replay until Thursday, November 6, 2008. To access the archived conference call, dial 416-640-1917 or 1-877-289-8525 and enter reference number 21287012#. The replay will also be available at www.guestlogix.com.
About GuestLogix
GuestLogix (www.guestlogix.com) is the leading provider of onboard retail technology and solutions to the passenger travel industry. Through its proprietary Mobile Virtual Store™ platform, the Company provides air, rail and ferry operators the tools and products to become successful onboard retailers, enhance service and drive ancillary revenue growth. With a customer base consisting of world leading airlines such as American Airlines, Delta Air Lines, Southwest Airlines, Ryanair, Germanwings, TUIfly UK and US Airways, GuestLogix maintains agreements to serve more than a half billion passenger trips annually.
Forward-Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on October 30, 2008 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
- ### -
© 2008 GuestLogix. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
|
|
|
|
