TORONTO, ONTARIO--(Marketwire - March 27, 2013) - GuestLogix Inc. (TSX:GXI), the leading global provider of onboard retail and payment technology to airlines and the passenger travel industry, today announced its financial and operational results for the quarter and 13-month period ended December 31, 2012. All financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS") and reported in U.S. dollars.

F2012 Financial Highlights

• Revenues of $25.8 million
• Negative EBITDA⁽¹⁾ of $10.1 million⁽²⁾
• Net operating loss of $12.1 million⁽²⁾
• Cash and cash equivalents including restricted cash of $6.7 million at year end

F2012 Operational Highlights

• Gross Transactions Processed ("GTV")
  • Processed GTV of $725 million
    
    
• Increase (and Protect) Number of Transactions
  • Signed milestone agreement with Panasonic Avionics to integrate Company's certified Payment Processing capabilities with Panasonic's market-leading In-Flight Entertainment solutions
  • Acquired largest competitor UK-based onboard retail technology provider, BOMMT adding 250 million annual passenger trips (188 million airline and 62 million rail)
  • Signed multi-year contract renewal on major global carrier protecting more than 125 million passenger trips
  • Signed multi-year contract renewal with U.S. Airways, including a fleet-wide Point-of-Sale device refresh and implementation of global payment services
  • Deployed our retail technology platform to US-based airline Sun Country which included a fleet-wide deployment of Point-of-Sale devices for the sale of food & beverage, duty free and other items onboard
  • Deployment of onboard retail technology platform onboard Ireland's flag carrier Aer Lingus
  • Signed multi-year contract renewal with KLM Royal Dutch Airlines
  • Deployed onboard retail platform onboard Indian carrier Jet Airways
  • Deployed onboard retail technology platform with large UK rail operator First TransPennine Express
    
    
• Increase Average Transaction Value
  • Successfully deployed merchandising platform including OnTouch® destination-based products and services for sale onboard US-based customer Sun Country
    
    
• Earn More Fees Per Transaction
  • Extended service to include Global Payment Services onboard two major European airlines
    
    
• Protecting Our Business
  • On December 11, 2012, the U.S. Patent and Trademark Office issued to GuestLogix U.S. Patent No. 8,328,094 ("Systems and Methods Facilitating Mobile Retail Environments") protecting the technology behind the Company's onboard retail platform

"Our 2012 financial results are a clear reflection of putting the past behind us and setting the stage for renewed growth and increased shareholder value," said Brett Proud, President & Chief Executive Officer of GuestLogix. "Within the quarter, it was clear that as part of the transition of GuestLogix, a concentrated effort was made to include all of the necessary financial adjustments to the 2012 financial statements. As a result of these adjustments, we enter 2013 with a significantly improved balance sheet and a strong cash balance."

Within the quarter, GuestLogix Inc. recognized expenses related to restructuring costs, deferred development costs, costs associated with the acquisition of Initium Onboard and other one-time charges, in order to enter the new fiscal year with a clean balance sheet and strong financial position. One-time charges - with the exception of those associated with restructuring and the acquisition - were non-cash based charges. Adjusting for these one-time charges as well as IFRS adjustments, operating results for the quarter would be $9.2 million in revenue and EBITDA would have been $(0.2) million.

F2012 Conference Call

GuestLogix will host a live conference call on Wednesday, March 27, 2013 at 4:30 pm ET to discuss its fiscal 2012 financial and operational results as well as the Company's outlook for fiscal 2013. To access the conference call, please dial 647-427-3411 or 1-888-241-0326. A taped replay of the call will be available at [ www.guestlogix.com/events.html ].

About GuestLogix

GuestLogix Inc. (TSX:GXI), the leading global provider of onboard store technology and merchandising solutions, helps airlines and other travel operators create, manage, and control onboard retail environments tailored to their needs and their passengers. GuestLogix brings a decade of expertise as a trusted onboard transaction processing partner to airlines around the world. The Company's global headquarters and centre for product innovation is located in Toronto, Canada with regional head offices located in Dallas, Texas (serving Americas) London, UK (serving EMEA), and Hong Kong (serving Asia-Pacific). Sales and support offices are located in Singapore and Shanghai. Logistics centres are situated in Toronto, Dallas, London and Seoul with a software development centre located in India. In September 2012, GuestLogix acquired U.K.-based onboard retail technology provider Initium Onboard with clients in Europe, South America, Asia-Pacific and the Middle East. More information is available at [ www.guestlogix.com ].

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 15, 2012 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.

©2013 GuestLogix. All Rights Reserved.

Contributing Sources

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