GREENWICH, Conn.,
Sept. 15 /PRNewswire-FirstCall/ -- PASSUR Aerospace,
Inc. (OTC Bulletin Board: PSSR) announced a net profit of
$127,000 or
$.02 per
share in the third quarter ended
July 31, 2008, compared to a net profit of
$142,000 or
$.03 per share in the same quarter of fiscal 2007. Third quarter
income was adversely impacted by a significant executive recruiting fee. Total
revenues for third quarter 2008 were up approximately 36% to
$1,998,000,
compared to
$1,467,000 in the same quarter of the previous fiscal year.
Subscription sales for the third quarter were up approximately 37% to
$1,873,000, compared to
$1,365,000 in the same quarter of fiscal 2007.
For the nine months ending July 31, 2008, the company had a net profit of
$406,000 or $.07 per share, 31% higher than the net profit of $311,000 or $.06
per share in the same period of fiscal 2007. Total revenues for first nine
months of 2008 were up approximately 35% to $5,608,000 compared to $4,161,000
in the same period of the previous fiscal year. Subscription sales for the
first nine months were up approximately 37% to $5,240,000, compared to
$3,822,000 in the same period of fiscal 2007.
"Our strong sales results for 2008 demonstrate the importance our
customers place on having timely, accurate information and software solutions
to reduce costs -- including fuel costs -- and to grow their top lines," said
Jim Barry, PASSUR Aerospace's President and CEO. "Additionally, and as
previously mentioned, we have made significant infrastructure investments in
the business to position us for further growth and to allow us to provide our
industry-leading products to the aviation industry."
"We had another good top-line quarter and we continue to be pleased with
the infrastructure investments which represent building blocks for future
growth," 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 90
airports worldwide, including 34 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 July 31, 2008 10-Q.
Contact:
James T. Barry
President & CEO
(203) 622-4086
jimbarry@passur.com
Print This Page
Email This Page
Archives
Copyright Permissions
