I recently heard about a Calgary-based company called AeroMechanical. Apparently they have developed technology that works like a black box on airplanes. What is your opinion?
AeroMechanical Services Ltd., $0.28, symbol AMA on Toronto (Shares outstanding: 103.6 million; Market cap: $29.0 million; www.amscanada.com) sells a number of products and services to the aviation industry. One of these is a data-collection device, called UpTime, that records flight information as it happens. It then relays the information to the aircraft operator’s facilities by satellite.
AeroMechanical also sells an emergency data-streaming device called FLYHTStream, which sends real-time data to the ground to be analyzed immediately. Another of its products is the FLYHT Fuel Management System, which tracks an airline’s fuel-saving efforts.
In the three months ended September 30, 2010, AeroMechanical’s revenue fell 28.9%, to $1.1 million from $1.5 million a year earlier. The company sold fewer UpTime systems; that was the main reason for the decline. In the latest quarter, AeroMechanical lost $2.6 million, or $0.03 a share, compared to a loss of $717,268, or $0.01 a share.
AeroMechanical continues to try and attract buyers for its products. It…
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