PASSUR Aerospace reports 2% revenue increase in Q2 2018


ASSUR Aerospace, Inc. (OTC: PSSR) has reported second quarter 2018 revenues of USD 3.502m for the three months ended April 30, 2018, compared with USD 3.424m for the same period in fiscal year 2017, an increase of USD 78,000, or 2.0%, the company said.

For the six months ended April 30, 2018, revenues totaled USD 7.015m, compared with USD 7.039m for the same period in fiscal year 2017, a decrease of USD24,000, or less than 1.0%.

PASSUR continues to invest in new software development, sales and marketing, and business leaders needed to achieve its projected future strategic and growth objectives. These new investments are expected to cost approximately $2 million on an annualized basis and target several important growth areas, including PASSUR´s new Business Intelligence Group.

As a result of this increase in operating expenses, not yet offset by anticipated increased revenue, the Company incurred significant losses. For the three months ended April 30, 2018, the Company incurred a net loss of USD 1,024m, or USD 0.13 per diluted share, compared with a net loss of USD 71,000, or USD 0.01 per diluted share for the same period in fiscal year 2017. For the six months ended April 30, 2018, the Company incurred a net loss of USD 2,191m, or USD 0.28 per diluted share, compared with a net loss of USD 122,000, or USD 0.02 per diluted share for the same period in fiscal year 2017.

PASSUR Aerospace, Inc. (OTC: PSSR) a global leader in digital operational excellence, provides predictive analytics and decision support technology for the aviation industry, primarily to improve the operational performance and cash flow of airlines and the airports where they operate.