PASSUR Aerospace (PSSR.OB) Posts Gains Across the Board for Q3 and 9-Months

QualityStocks would like to highlight PASSUR Aerospace Inc. (OTCBB: PSSR), a leader in aviation business intelligence, which provides its customers predictive analytics built on proprietary algorithms and on the concurrent integration and simultaneous mining of multiple databases. The company provides predictive analytics and cost saving solutions to dozens of airlines (including 6 of the top 7 North American airlines), over 50 airports (including 10 of the top 15 North American airports) and more than 200 corporate aviation customers.

In the company’s news yesterday,

PASSUR Aerospace, Inc., announced its financial results for the third quarter of fiscal 2010, reporting an 11 percent increase in total revenues for the nine months ended July 31, 2010.

The company posted revenues for third quarter 2010 at $2,771,000, up 19 percent from $2,336,000 in the same quarter of the previous fiscal year.

Subscription sales for the third quarter increased approximately 21 percent to $2.65 million, compared to $2.18 million in the same quarter of fiscal 2009.

Income from operations for the third quarter grew approximately 86 percent to $424,000, compared to $228,000 in the comparable quarter of the year prior.

Net profit for the third quarter was $73,000, or $.01 per diluted share, compared to a net loss of $(92,000), or $.02 per diluted share, in the same quarter of fiscal 2009.

“Our sales growth demonstrates that our business intelligence, predictive analytics, and professional services solutions are playing an increasingly important role in helping our clients to increase operational efficiency, improve the customer experience, and enhance safety and security,” Jim Barry, PASSUR president and CEO stated in the press release.

For the nine months ended July 31, 2010, the company reported an 11 percent increase in total revenues to $7.49 million, compared to $6.75 million in the same period of the previous fiscal year.

PASSU reported a 13 percent increase in subscription sales for the first nine months to $7.10 million, compared to $6.30 million in the same period of fiscal 2009.

Income from operations for the first nine months increased approximately 33 percent to $1.07 million, compared to $807,000 in the same period in fiscal 2009.

Net profit was $25,000, or $0.0 per diluted share, for the first nine months of fiscal 2010, compared to a net profit of $11,000, or $0.0 per diluted share, in the comparable period of 2009.

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