SYS-CON MEDIA Authors: Elizabeth White, Pat Romanski, Carmen Gonzalez, Liz McMillan, Kevin Jackson

News Feed Item

PASSUR Announces FY2013 Financial Results

STAMFORD, Conn., Jan. 29, 2014 /PRNewswire/ -- PASSUR Aerospace, Inc. (OTC: PSSR), an aviation business intelligence, Big Data, software and solutions company, announced revenues for its fiscal year ended October 31, 2013 of $11,035,000, income before taxes of $637,000, and earnings per share of $0.04.

Total revenue decreased $1,472,000, or 12%, from $12,507,000 in the prior fiscal year, as a result of the completion of a government contract and a professional services engagement during fiscal year 2012. The decline of $2,062,000 in revenues from these contracts was partially offset by a revenue increase of $590,000 from the Company's North American airline and airport customers. The profit impact of this revenue decline was offset in part by cost reductions, resulting in an overall decline in income from operations of $453,000 to a level of $925,000 in fiscal year 2013, from $1,378,000 in the prior year.

The diluted earnings per share in fiscal year 2013 was $0.04 which was after a tax provision of $356,000 or $.05 per diluted share. In fiscal year 2012, an income tax benefit of $1,776,000 or $0.22 per diluted share was included in diluted earnings per share of $0.36.

PASSUR serves all the top eight North American airlines and more than 60 airport customers (including 22 of the top 30 North American airports), with at least one of its products, and more than 125 worldwide airlines, approximately 150 corporate aviation customers, as well as the U.S. government.

"We're very pleased with our sales to airlines and airports – with record setting sales in 2013," said Jim Barry, president and CEO of PASSUR. "We continue to be encouraged with sales of PASSUR Integrated Traffic Management (PITM) to airlines and airports, and are especially pleased with the rapid and widespread adoption of our Global Collaborative Decision Making platform, to include Airport Information Network (AIN), which is now connected to the International Air Transport Association's (IATA) Tactical Operations Portal (ITOP) – linking more than 100 North American Airports with about 100 worldwide airlines on integrated PASSUR platforms. We believe AIN and ITOP are contributing to the future of collaboration and coordination within the aviation industry across regional, national, and global constituencies."

"We continue to believe in our growth playbook, with a very focused execution plan addressing expensive problems that have a direct and major impact on the customers' bottom line," said G.S. Beckwith Gilbert, PASSUR Aerospace Chairman of the Board.

About PASSUR Aerospace, Inc.
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 164 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 which 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.

 

Contact:
James T. Barry
President & CEO
(203) 622-4086
[email protected]

SOURCE PASSUR Aerospace, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what th...
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science f...
SYS-CON Events announced today that CodeFutures, a leading supplier of database performance tools, has been named a “Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. CodeFutures is an independent software vendor focused on providing tools that deliver database performance tools that increase productivity during database development and increase database performance and scalability during production.
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness,...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. ...
Vormetric on Wednesday announced the results of its 2015 Insider Threat Report (ITR), conducted online on their behalf by Harris Poll and in conjunction with analyst firm Ovum in fall 2014 among 818 IT decision makers in various countries, including 408 in the United States. The report details striking findings around how U.S. and international enterprises perceive security threats, the types of employees considered most dangerous, environments at the greatest risk for data loss and the steps or...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Storage administrators find themselves walking a line between meeting employees’ demands to use public cloud storage services, and their organizations’ need to store information on-premises for security, performance, cost and compliance reasons. However, as file sharing protocols like CIFS and NFS continue to lose their relevance, simply relying only on a NAS-based environment creates inefficiencies that hurt productivity and the bottom line. IT wants to implement cloud storage it can purchase a...
Cloud Technology Partners on Wednesday announced it has been recognized by the Modern Infrastructure Impact Awards as one of the Best Amazon Web Services (AWS) Consulting Partners. Selected by the editors of TechTarget's SearchDataCenter.com, and by votes from customers and strategic channel partners, the companies acknowledged by the Modern Infrastructure Impact Awards represent the top providers of cloud consulting services for AWS including application migration, application development, inf...
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Blue Box has been around for 10-11 years, and last year we launched Blue Box Cloud. We like the term 'Private Cloud as a Service' because we think that embodies what we are launching as a product - it's a managed hosted private cloud," explained Giles Frith, Vice President of Customer Operations at Blue Box, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Software AG and Wipro Ltd. have announced a joint solution platform for streaming analytics that provides real-time actionable intelligence for the Internet of Things (IoT) market. “The key to successfully addressing the IoT market is the ability to rapidly build and evolve apps that tap into, analyze and make smart decisions on fast, big data”, said John Bates, Global Head of Industry Solutions and CMO, Software AG. To address the huge market potential created by streaming analytics in conj...
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.