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GuestLogix doubles revenue in Q1GuestLogix doubles revenue in Q1
24-Apr-2008
The sales technology company attributes the growth in revenue to factors including several inflight retail contracts
The Canadian company—which has enjoyed a busy start to the year having partnered with catalogue company SkyMall to develop an onboard shopping service, signed an agreement with low-cost carrier Ryanair for the provision of onboard retail technology and established an onboard retail development team to build merchandising programs with product and service providers—generated revenue of $1.4m in quarter one, an increase of 109% from the $0.7m gained last year. Recurring revenue represented 100% of total revenue in line with quarter one last year and total operating expenses were $1.9m, compared to the $0.8m in the same period last year. EBITDA was $0.009m compared to the $0.2m in quarter one last year and the company recorded a net income loss of $0.5m ($0.01 per share) in quarter one of 2008 compared to a net loss of $0.8m ($0.03 per share) for the same period last year.
GuestLogix president and CEO Tom Douramakos said: “The first quarter saw us double our revenue over the prior year and set the stage for continued growth with several important new agreements. Our overall strategy is to continue to grow our global footprint in the airline industry, expand our revenue growth opportunities by establishing product, service and channel partnerships and enter the travel-retail segment.”
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(19-Mar-2008) - The onboard sales technology will be rolled out across the AirAsiaX fleet at the end of the month
(21-Feb-2008) - GuestLogix will introduce a new shopping service integrated with SkyMall’s inflight catalogues
(12-May-2008) - GuestLogix’s latest set of results certainly give the impression that it is growing rapidly
(4-Jan-2008) - The new onboard sales technology will be rolled out across the airline’s fleet from April
(16-Jan-2003) - UK. British Airways? inflight retail arm has reported that it had a good year in 2002 and is looking forward to further improvement this year. Although final figures are yet to be confirmed, inflight sales are expected to meet their revenue target of £43m ($68.8m) for the year.