GREENWICH, Conn.,
June 17 /PRNewswire-FirstCall/ -- PASSUR Aerospace, Inc.
(OTC Bulletin Board: PSSR) 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 worldwide, 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 http://www.passur.com for updated
products, solutions and PASSUR news.
The forward-looking statements in this shareholder letter 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 those 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, 2007 Form 10-K and April 30, 2008 10-Q.
Contact:
James T. Barry
President & CEO
(203) 622-4086
jimbarry@passur.com
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