PASSUR Aerospace, Inc. (OTC: PSSR) revenue increased 5% to USD 3,616,000 for the three months ended January 31, 2017, compared with USD 3,435,000 for the same period in fiscal year 2016, due to higher recurring subscription sales from our existing airline and airport customers, the company said.
Operating costs during the first quarter increased primarily as a result of hiring additional personnel to pursue near-term revenue opportunities, and largely contributed to an operating loss of USD 120,000, compared with income from operations of USD 106,000 in the same period in fiscal year 2016.
Net loss was USD 257,000 or USD 0.03 per diluted share, compared with net income of USD 25,000 or USD 0.00 per diluted share, in the same period in fiscal year 2016.
PASSUR Aerospace is a business intelligence company, providing 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. Over 125 airlines and over 60 airports world-wide use PASSUR products.
PASSUR Aerospace owns and operates a commercial passive radar network which updates flight tracks every 1 to 4.6 seconds, and powers a proprietary database that is accessible in real-time and delivers timely, accurate information and solutions via PASSUR´s industry-leading algorithms and business logic included in its products.