PSSR PASSUR Aerospace Inc (CE)

STAMFORD, Conn., Sept. 15, 2014 /PRNewswire/ -- PASSUR Aerospace, Inc (OTC: PSSR), an aviation business intelligence, Big Data, software and solutions company, reported an increase in revenue of 6% to $8,574,000 for the nine months ended July 31, 2014, compared to $8,078,000 for the same period in fiscal year 2013. For the nine months ended July 31, 2014, income from operations was $610,000 compared to $479,000 in the same period of the previous fiscal year, an increase of 27% over the prior fiscal year. For the nine months ended July 31, 2014, net income was $274,000 or $.04 per diluted share, compared to $182,000 or $.02 per diluted share, in the same period in fiscal year 2013.

Total revenue for the quarter ended July 31, 2014 increased 4% to $2,865,000, compared to $2,743,000 for the same period in fiscal year 2013. For the three months ended July 31, 2014, income from operations was $224,000 compared to $210,000 in the same period of the previous fiscal year, an increase of 7% over the prior fiscal year. For the three months ended July 31, 2014, net income was $129,000 or $.02 per diluted share, compared to $105,000 or $.01 per diluted share, in the same period in fiscal year 2013.

"We continue to see growth in all of our major programs and markets, we're continuously improving our profitability, and we've added to our expert team with the hiring of Bob Junge, former Deputy General Manager of JFK International Airport and Howie King, a noted industry veteran," said Jim Barry, President and CEO of PASSUR Aerospace. "Our markets continue to respond enthusiastically to PASSUR's investments in predictive analytics and business intelligence focused on solving expensive, complex customer challenges."

"We continue to believe that the success of our investments in innovative air traffic constraint management solutions, as well as in Industrial Collaborative Networks, demonstrates that the commercial side of aviation can make major contributions to the efficiency of our aviation system," said G.S. Beckwith Gilbert, PASSUR Aerospace Chairman of the Board.

About PASSUR Aerospace

PASSUR Aerospace, Inc. is an aviation business intelligence and Big Data company that provides predictive analytics built on proprietary algorithms and the concurrent integration and simultaneous mining of multiple databases. PASSUR considers itself to be the industry standard in business intelligence dashboards and predictive analytics for aviation organizations. PASSUR serves more than 125 worldwide airlines (including all the top eight North American airlines), more than 60 airport customers (including 22 of the top 30 North American airports), and approximately 150 corporate aviation customers, as well as the U.S. government. PASSUR's system provides coast-to-coast coverage and is driven by proprietary, patented, business intelligence software, which is powered by a unique company owned North American network of 185 passive radar systems. Other systems are located in Europe and Asia. Supplementary, detailed coverage is also provided at 98 of the top 100 North American airports. Flight tracks are updated between 1 and 4.6 seconds, thereby making available a system that is user-friendly and useful for decision-making. Visit PASSUR Aerospace's web site at www.passur.com for updated products, solutions, and news.

The forward-looking statements in this press release 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, 2013 Form 10-K and July 31, 2014 Form 10-Q.

SOURCE PASSUR Aerospace, Inc.