STAMFORD, Conn. Feb. 1, 2011 $10,958,000 October 31, 2010 $8,960,000 $1,443,000 $1,271,000 $21,000 $.00 $154,000 $.03
- Awarded a major contract with the Federal Aviation Administration (FAA) for a one-year pilot program to provide access to PASSUR’s Aviation Security related products in support of the FAA’s joint role with the Transportation Security Administration (TSA).
- Developed and deployed the Company’s Departure Metering Program at JFK (patent pending). This solution is designed to reduce ground congestion and corresponding fuel burn and delays.
- Deployed the PASSUR Professional Services Program in a major review of a top 10 North American airline’s core System Operations Center technology and process requirements.
- Increased the PASSUR Professional Services Program, comprised of a team of former FAA, airline, airport, and business aviation subject matter experts, as well as commercial, corporate, and military pilots, with experience in air traffic management, plus airline and airport financial analysis, as well as in airline and airport operations. This program provides outsourcing services for complex operational projects requiring a strong collaborative component.
- Deployed the new PASSUR Tarmac Delay Monitor system for a top 10 North American airline, to track and manage tarmac delays system wide.
- Expanded the PASSUR National Airport Network of Field Condition Reporting by 50%. The program consolidates field condition reporting for all participating airports onto a single screen, adds new levels of automation, and is available to, and accessed by, airline system operation centers in the U.S. and internationally.
- Announced a partnership with FlightSafety International as part of their Extended Advantage Program – an offering of solutions from leading aerospace providers which augments FlightSafety’s core mission of supporting safe, efficient, and high-quality flight operations.
- the United States
- Expanded coverage of the PASSUR Surveillance and Information Network to approximately 200 airports worldwide and 98 of the top 100 U.S. commercial airports.
- Moved closer to the Company goal of – and the customer need for – an independent, worldwide, gate-to-gate network of flight tracking and airspace information. The Company shipped 32 and installed 28 Company-owned PASSUR® Systems during fiscal year 2010, an increase of 23% in the installed base of PASSUR radar surveillance systems.
$1 million Jim Barry
$20 billion G.S. Beckwith Gilbert
About PASSUR Aerospace, Inc.
The information provided in this press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company’s future plans, objectives, and expected performance. The words "believe," "may," "will," "could," "should," "would," "anticipate," "estimate," "expect," "project," "intend," "objective," "seek," "strive," "might," "likely result," "build," "grow," "plan," "goal," "expand," "position," or similar words, or the negatives of these words, or similar terminology, identify forward-looking statements. These statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks and uncertainties, and a number of factors could cause the Company’s actual results to differ materially from those expressed in the forward-looking statements referred to above. These factors include, without limitation: the ability of the Company to sell data subscriptions from its PASSUR® Proprietary Surveillance Network and to make new sales of its PASSUR® and other product lines (due to potential competitive pressure from other companies or other products); the current uncertainty in the aviation industry due to terrorist events, the continued war on terrorism, changes in fuel costs, airline bankruptcies and consolidations; economic conditions; future changes in governmental regulation and the impact that such changes in regulation will have on the Company’s business; the Company’s ability to attract and maintain the personnel necessary to sell, manufacture, and service its products; the Company’s ability to adequately protect its intellectual property; the Company’s ability to secure future financing; the Company’s ability to maintain the continued support of its significant shareholder and the risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K. Readers are cautioned not to place undue reliance on these forward-looking statements, which relate only to events as of the date on which the statements are made and which reflect management’s analysis, judgments, belief, or expectation only as of such date. The Company undertakes no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. Readers are advised, however, to consult any further disclosures we make on related subjects in our Forms 10-K, 10-Q, and 8-K.
James T. Barry
President & CEO
SOURCE PASSUR Aerospace, Inc.