GREENWICH, Conn., June 15 /PRNewswire-FirstCall/ -- PASSUR Aerospace, Inc. (BULLETIN BOARD: PSSR) announced total revenues for second quarter 2009 were up approximately 23% to $2,344,000, compared to $1,903,000 in the same quarter of the previous fiscal year. Net profit was $27,000 or $.01 per share in the second quarter ended April 30, 2009, compared to a net profit of $127,000 or $.02 per share in the same quarter of fiscal 2008.
Total revenues for the first six months of fiscal 2009 were up approximately 22% to $4,421,000 compared to $3,610,000 in the same period of the previous fiscal year. For the six months ending April 30, 2009, the company had a net profit of $103,000 or $.02 per share, compared to a net profit of $279,000 or $.05 per share in the same period of fiscal 2008.
"We remain focused on selling solutions that dramatically improve our customers' financial performance -- and we believe our continued growth shows that the strategy is working," said Jim Barry, PASSUR Aerospace's President and CEO. "These are challenging times for our industry, and each of its sectors has felt the impact. We feel confident that our capabilities which help save money and reduce delays for airlines, improve landing fee efficiencies and revenue for airports, and enhance sales and profitability for our corporate aviation customers are the right solutions at the right time."
"We continue to be pleased with our sales growth, we like our strategy, and we are optimistic about our prospects -- even in this challenging environment," 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 100 airports worldwide, including all 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 customers at 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 200 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, 2008 Form 10-K and April 30, 2009 Form 10-Q.
Contact: James T. Barry President & CEO (203) 622-4086 jimbarry@passur.com
PASSUR Aerospace, Inc.
CONTACT: James T. Barry, President & CEO of PASSUR Aerospace, Inc.,
+1-203-622-4086, jimbarry@passur.com
Web Site: http://www.passur.com/
