STAMFORD, Conn., June 15, 2015 /PRNewswire/
-- PASSUR® Aerospace, Inc. (OTC: PSSR), an aviation
business intelligence, big data, software and solutions company
reported total revenue for the quarter ended April 30, 2015 increased 15% to $3,221,000, compared to $2,813,000 for the same period in fiscal year
2014, primarily as a result of two major multi-year contracts
signed during the quarter. For the three months ended April 30, 2015, income from operations was
$417,000 compared to $219,000 in the same period of the previous
fiscal year, an increase of 90% over the prior year. For the three
months ended April 30, 2015, net
income was $152,000 or $.02 per diluted share, compared to $81,000 or $.01 per
diluted share, in the same period in fiscal year 2014.
For the six months ended April 30,
2015, revenue increased 5% to $5,986,000, compared to $5,709,000 for the same period in fiscal year
2014. For the six months ended April 30,
2015, income from operations was $702,000 compared to $387,000 in the same period of the previous
fiscal year, an increase of 81% over the prior year. For the six
months ended April 30, 2105, net
income was $293,000 or $.04 per diluted share, compared to $145,000 or $.02
per diluted share, in the same period in fiscal year 2014.
"We're having a good year, with revenue and profit growth," said
Jim Barry, President and CEO of
PASSUR® Aerospace. "Our broad customer base is seeing
even greater value in our aviation intelligence platform. Our
customers are able to measure the impact we're having on key
operational and financial metrics – as well as on the overall
passenger experience. We like our strategy and are proud of our
team – and will continue to execute."
"We have momentum, our strategy is working, and – as our results
show – our platform effectively addresses expensive problems which
impact our customers' bottom line," said G.S. Beckwith Gilbert, PASSUR®
Aerospace Chairman of the Board.
About PASSUR® Aerospace
PASSUR® Aerospace, Inc. is an aviation business
intelligence and big data company that provides predictive
analytics built on proprietary algorithms and the concurrent
integration and simultaneous mining of multiple databases.
PASSUR® considers itself to be the industry standard in
business intelligence dashboards and predictive analytics for
aviation organizations. PASSUR® serves more than
125 worldwide airlines (including all of the top North American
airlines), more than 60 airport customers (including 22 of the top
30 North American airports), and approximately 200 corporate
aviation customers, as well as the US government.
PASSUR®'s system provides coast-to-coast coverage
and is driven by proprietary, patented, business intelligence
software, which is powered by a unique company-owned North American
network of over 180 passive radar systems, with other
PASSUR® systems located worldwide. Supplementary,
detailed coverage is also provided at 98 of the top 100 North
American airports. Flight tracks are rapidly updated between 1 and
4.6 seconds, thereby making available a system that is
user-friendly and useful for decision-making. Visit
PASSUR®'s website at www.passur.com for updated
products, solutions, and news.
Contact:
James T.
Barry
President & CEO
(203)
622-4086
Email
The forward-looking statements in this press release, including
statements relating to management's expectations and beliefs, are
based on preliminary information and management assumptions.
Such forward-looking statements are subject to a wide range of
risks and uncertainties that could cause results to differ in
material respects, including risks and uncertainties related to
customer needs, budgetary constraints, competitive pressures, the
success of airline trials, the profitable use of the Company's
owned PASSURs located at major airports, the Company's maintenance
of above average quality of its product and services, as well as
potential regulatory changes. Further information regarding factors
that could affect the Company's results is contained in the
Company's SEC filings, including the October
31, 2014 Form 10-K and April 30,
2015 Form 10-Q. The company undertakes no obligation to
publicly update any forward-looking statements for any reason, even
if new information becomes available, or other events occur in the
future.
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SOURCE PASSUR® Aerospace, Inc.