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PASSUR Aerospace Reports Revenue Increase of 12% and Operating Profit Increase of 60% for the First Quarter 2010
Stamford, CT, March 19, 2010 — PASSUR Aerospace, Inc announced total revenues for the first quarter ending January 31, 2010 were up approximately 12% to $2,323,000, compared to $2,076,000 in the same quarter the previous fiscal year. Operating profits were up approximately 60% to $389,000 compared to $244,000 in the same period the previous fiscal year. Net profit was $25,000 or $.00 per diluted share compared to $76,000 or $.01 per diluted share in the same quarter the previous fiscal year.
“Our continued growth results from PASSUR’s solutions playing an important, systemic role in helping our customers reduce their costs and improve operational efficiencies,” said Jim Barry, PASSUR Aerospace’s President and CEO.
“We are pleased with our sales growth, we like our strategy, and we are optimistic about the Company’s prospects – even in this challenging environment,” said G.S. Beckwith Gilbert, PASSUR Aerospace’s Chairman of the Board.
About PASSUR Aerospace, Inc.
PASSUR Aerospace, Inc. is a business intelligence company which provides its customers predictive analytics built on proprietary algorithms and on the concurrent integration and simultaneous mining of multiple databases. We believe we provide the industry standard in business intelligence dashboards and predictive analytics for aviation organizations. PASSUR serves most major airlines (including 6 of the top 7 North American airlines, as well as the top five hub airlines), over 50 airport customers (including 10 of the top 15 North American airports), and more than 200 corporate aviation customers. PASSUR’s system is driven by its proprietary, patented, business intelligence software which is powered by a unique North American network of 130 passive radars, company owned, including one located at each of the top 35 U.S. airports. Other PASSURs are located in Europe and Asia. Flight tracks are updated every 4.6 seconds, thereby providing a system which is user-friendly and useful for decision making.
Visit PASSUR Aerospace’s web site at www.passur.com for updated products, solutions, and PASSUR news.
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