GuestLogix Inc.
TSX VENTURE : GXI

GuestLogix Inc.

March 30, 2009 16:30 ET

GuestLogix Reports Revenue Growth of 56% in Fiscal 2008

TORONTO, ONTARIO--(Marketwire - March 30, 2009) - GuestLogix Inc. (TSX VENTURE:GXI), the leading provider of on-board retail solutions to the airline industry, announces its operational and financial results for the three- and 12-month periods ended November 30, 2008. All results are reported in Canadian dollars.

Fiscal 2008 Highlights

- Increased revenue by 56% year-over-year to $8.5 million

- Grew monthly revenue to $1.2 million in November 2008, up from $0.4 million in November 2007

- Reached a total of 24 airline customers under agreement

- Achieved global airline market share by passenger trip of 25%

- Signed channel partnership agreements with:

-- Newrest Group's ILC and Saudi Arabian Airlines Catering Company ("SAAC") to deploy GXI's platform on-board SAAC's airline customers

-- Thales to integrate GXI's Mobile Virtual Store™ technology with Thales' TopSeries Inflight Entertainment System

- Signed merchandising agreements with:

-- Broadway Inbound, to offer Broadway tickets on flights to New York City

-- TicketOps to offer attraction tickets on North American flights

-- SkyMall to deliver an on-board catalogue shopping service

- Increased investment in corporate infrastructure, deployment activities and merchandising initiatives to support continued revenue growth and position the Company to generate positive cash from operations in future periods

"In fiscal 2008, the airline industry's trend toward driving ancillary revenue growth via on-board retailing gained momentum," said Tom Douramakos, President and CEO of GuestLogix. "Through our investment in the business, GuestLogix is quickly becoming the standard for enabling this industry-wide shift. We more than doubled our number of passenger trips under agreement, tripled our deployed customer base and achieved a 56% increase in revenue compared to fiscal 2007. In addition, we signed three merchandising agreements and developed our In-Flight Box Office marketing campaign, positioning the Company to increase revenue per passenger trip over the long-term."



Key Metrics
(All figures presented on an annualized basis) F2008 F2007

Passenger trips under agreement at year end 703 million 286 million

Passenger trips deployed at year end 395 million(1) 123 million



Fiscal 2008 Year End and Q4 Financial Highlights

12 months 12 months Three months Three months
ended ended ended ended
Nov 30, Nov 30, Nov 30, Nov 30,
2008 2007 2008 2007

Revenue $8,473,865 $5,430,154 $ 2,826,010 $1,577,825
EBITDA(2) $(1,314,769) $32,377 $(1,048,729) $(290,136)
Net Income (Loss) $(4,270,635) $(3,720,483) $(1,961,219) $(1,051,301)
Net Income (Loss)/Share $(0.08) $(0.11) $(0.03) $(0.02)

As at November 30, 2008 As at November 30, 2007
Cash and Cash
Equivalents $2,650,099 $5,989,024
Including Restricted
Cash(1) $5,545,199 $7,014,414


Fiscal 2009 Outlook

Mr. Douramakos added: "For fiscal 2009, our strategy is three pronged: one, grow our passenger trip footprint by adding airline customers and further penetrating the rail sector; two, expand our deployed customer base; and three, increase the number and value of transactions by making more products and services available for sale on-board. These initiatives position us to achieve our goals of one billion passenger trips under agreement, $2.0 million of monthly revenue and positive EBITDA growth. We believe we have the market leadership and team to deliver on these objectives."

Fiscal 2009 Year-to-date Highlights

- Signed agreements with three major U.S.-based airlines

- Won contract with a major European air carrier

- Went live on-board first railway customer in North America

- Completed deployment with the fifth largest U.S. airline, US Airways

- Commenced deployment on-board one of Europe's largest airlines

- Signed an agreement with a major U.S. theme park operator to market and sell tickets on-board flights to the U.S.

Financial statements and MD&A will be available at www.guestlogix.com and www.sedar.com.

GuestLogix plans to release its operational and financial results for Q1 F2009 during the week of April 20, 2009. At that time, GuestLogix will host an investor conference call to discuss its Q1 F2009 performance as well as its F2009 outlook.

(1) Variation from investor update issued January 21, 2009, as U.S Airways was initially included in the year end deployment count, but deployment was completed immediately subsequent to year end.

(2) See GuestLogix' MD&A and Financial Statement filed on March 30, 2009, for complete definition.

About GuestLogix

GuestLogix is the leading provider of on-board retail technology and solutions to the passenger travel industry. Through its de facto standard Mobile Virtual StoreTM platform, the Company provides operators the tools and products to become successful on-board retailers, enhance service and drive ancillary revenue growth. With a customer base comprised of seven of the top 10 global airlines, the Company maintains agreements to serve nearly 30 per cent of the global airline passenger traffic through its technology platform. Additional information on the Company can be found 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 March 30, 2009 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.

(C) 2009 GuestLogix. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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