PASSUR Aerospace reports 6% revenue hike

PASSUR Aerospace has reported a 6% increase to $5,040,000 in its airline, airport, and business aviation revenue for the six months ended April 30, 2013.

Overall revenue for the first six months of fiscal 2013 decreased 24%, to $5,336,000 compared to $6,996,000 in the same period of the previous fiscal year, primarily due to the completion of a government contract and a professional services engagement in fiscal year 2012. For the same period, the company’s net income decreased to $76,000 or $.01 per diluted share, compared to net income of $939,000 or $.12 per share.

Total revenue for the quarter ended April 30, 2013 decreased 25% to $2,661,000, compared to $3,532,000 in the same quarter of the previous fiscal year. The company had net income of $64,000 or $.01 per diluted share in the second quarter ended April 30, 2013, compared to a net income of $559,000 or $.07 per diluted share in the same quarter of fiscal 2012.

“We’re pleased with our continued growth in market share and sales in our commercial markets – we now have all eight of the largest North American airlines, and more than 60 airports (including 24 of the top 30 North American airports) as customers – and the deeper penetration of our traffic management and collaboration platform into many more organizations,” said Jim Barry, President and CEO of PASSUR Aerospace.

“We are especially pleased with the launch in April of the IATA Tactical Operations Portal, which provides a global collaborative platform for airlines worldwide to minimize same-day air traffic constraints in the highly complex and disruption prone U.S. National Airspace System. The PASSUR collaborative platform now extends across the local, regional, national, and global levels. We remain focused on helping to solve expensive, complex, and disruptive aviation problems that can only be addressed through the smart use of Big Data, predictive analytics, information and data visualization, and collaboration among all key aviation players.”

“We continue to make the investments needed to take advantage of what we see as a significant opportunity for long term, robust growth,” said G.S. Beckwith Gilbert, PASSUR Aerospace chairman of the board.

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