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PASSUR Aerospace Reports 65% Increase in Net Income and 37% Increase in Revenue
Greenwich, CT — PASSUR Aerospace, Inc announced a net profit of $127,000 or $.02 per share in the second quarter ended April 30, 2008, compared to a net profit of $115,000 or $.02 per share in the same quarter of fiscal 2007. Total revenues for second quarter 2008 were up approximately 37% to $1,903,000, compared to $1,392,000 in the same quarter of the previous fiscal year. Subscription sales for the second quarter were up approximately 38% to $1,777,000, compared to $1,289,000 in the same quarter of fiscal 2007.
For the six months ending April 30, 2008, the company had a net profit of $279,000 or $.05 per share, 65% higher than the net profit of $169,000 or $.03 per share in the same period of fiscal 2007. Total revenues for first six months of 2008 were up approximately 34% to $3,610,000 compared to $2,694,000 in the same period of the previous fiscal year. Subscription sales for the first six months were up approximately 37% to $3,367,000, compared to $2,457,000 in the same period of fiscal 2007.
“These good revenue results are helping to drive our company’s investments in people and technologies,” said Jim Barry, PASSUR Aerospace’s President and CEO. “These new investments, on top of those we have previously made, allow us to provide additional cost-reduction and revenue-enhancing solutions to aviation organizations at a time of rising costs. For airlines, we help to reduce fuel costs and improve network reliability; for airports and the corporate aviation market, we help generate additional revenue, improve customer service, as well as enhance the operational reliability of their organizations.”
“It’s another quarter of good revenue results and we appreciate the great job our employees are doing to drive sales and develop products that have a significant positive impact in today’s market,” said G.S. Beckwith Gilbert, PASSUR Aerospace’s Chairman of the Board.
About PASSUR Aerospace
PASSUR Aerospace owns and operates a unique database of flight information with proprietary decision-making software, primarily powered by a growing international network of passive radars (PASSURs) located at more than 85 airports world-wide, including 33 of the top 35 U.S. airports – from which it provides PASSUR information, analytics, and decision support tools to improve the financial condition and operational efficiency of aviation organizations. PASSUR Aerospace offers unique user friendly information as well as decision algorithms which provide innovative commercial air traffic solutions to more than 50 airports, including 8 of the top 10 U.S. airports; to dozens of airlines, including 7 of the top 10 U.S. airlines; and to more than 190 corporate aviation customers, as well as to the U.S. Government. In addition, the company has created and implemented collaborative web-based software that allows the company’s customers to instantly share information to improve individual and joint decision making, creating additional value for those customers.
Visit PASSUR Aerospace’s web site at www.passur.com for updated products, solutions and PASSUR news.
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