Stamford, Conn - PASSUR Aerospace, Inc. (OTC: PSSR), a global leader in digital operational excellence, announced income from operations of $202,000 and $811,000, respectively, for the three and nine months ended July 31, 2021, compared to income from operations of $9,000 and a loss from operations of $1,971,000 respectively, in the same periods in the prior fiscal year (the loss from operations in the prior year for the nine months ended July 31, 2020 was before the one-time impairment charge of $9,874,000 taken in the second quarter of the prior fiscal year).
PASSUR's operating performance has improved despite reporting lower revenues of $1,510,000 and $4,670,000, respectively, for the three and nine months ended July 31,2021, compared with revenues of $2,208,000 and $9,612,000, respectively, for the same periods in the prior fiscal year.
The Company had a net loss of $64,000, or $0.01 per diluted share, and net income of $21,000, or $0.00 per diluted share, respectively, for the three and nine months ended July 31, 2021, compared to net losses of $250,000, or $0.03 per diluted share, and $12,564,000, or $1.63 per diluted share, respectively, for the same periods in the prior fiscal year. The net loss for the nine months ended July 31, 2020 was after the impairment charge of $9,874,000 noted above.
'We continue to see high renewal rates, as well as increasing new business opportunities, despite the ongoing COVID-19 pandemic. This is a testament to the value that the market sees from our ARiVA platform, and the operational efficiencies we can bring to our customers,' stated Brian Cook, PASSUR's President and CEO. During this quarter, we also relaunched our website, highlighting our ARiVATM platform capabilities and spotlighting our growing partnerships within the aviation data industry.
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About PASSUR Aerospace, Inc.
PASSUR Aerospace, Inc. (OTC: PSSR) is the operations platform of choice for aviation experts, offering a unique combination of global data, decision support, and subject matter expertise solutions to improve operational efficiencies. Our platform and people help deliver actionable-data and user-friendly tools to corporate and operations leadership. Specifically, PASSUR products identify creative ways to minimize and eliminate bottleneck capacity constraints, react to irregular operations (IROPS), restart operations after an interruption in service, and enhance the efficiency of the daily schedule. Our collaborative framework uniquely enhances data sharing, communications, and decision-making within and between stakeholders in an operations ecosystem. PASSUR provides its solutions to the largest airlines and airports globally including in the United States, Canada, and Latin America.
Visit PASSUR Aerospace's website at www.passur.com for updated products, solutions, and news.