19 Mar 2017

PASSUR™ Aerospace Announces Revenue Increase of 5% for the First Quarter Ended January 31, 2017

PASSUR™ Aerospace, Inc. (OTC: PSSR), a business intelligence, predictive analytics, and big data company, announced that revenue increased 5% to $3,616,000 for the three months ended January 31, 2017, compared with $3,435,000 for the same period in fiscal year 2016, due to higher recurring subscription sales from our existing airline and airport customers. Operating costs during the first quarter increased primarily as a result of hiring additional personnel to pursue near-term revenue opportunities, and largely contributed to an operating loss of $120,000, compared with income from operations of $106,000 in the same period in fiscal year 2016. Net loss was $257,000 or $0.03 per diluted share, compared with net income of $25,000 or $0.00 per diluted share, in the same period in fiscal year 2016.

“We are growing our revenue from airlines and airports and are investing in our significant opportunities,” said Jim Barry, PASSUR President and CEO. Mr. Barry added, “we continue to strategically invest in people and technology developments to further expand our footprint within our airline and airport customers and deliver greater value to our existing customers.”

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