PASSUR Aerospace Inc., a business intelligence company providing predictive analytics for major airlines, today announced its financial results for the third quarter of fiscal 2010, and reported 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.
For more information visit www.passur.com
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