PASSUR AEROSPACE INC - PSSR STOCK NEWS

PASSUR Aerospace has successfully integrated the Symphony product portfolio into its organization as of April 6, 2023. This move allows PASSUR to enhance its capabilities in airport operations, noise management, billing, and aviation data services. Key personnel from the Symphony team have joined PASSUR, focusing on customer success and technical support. PASSUR now leads the development and maintenance of the Symphony product line, aiming for growth in the global air transport market. The company utilizes data from a vast network, including over 55,000 terrestrial ADS-B sensors, to provide real-time solutions for airlines and airports. The integrated organization supports over 80 airports and numerous airlines globally, positioning itself strongly within the SaaS and aviation data services sector.

PASSUR Aerospace has secured an exclusive, perpetual license to market and support L3Harris Symphony® for Airports products. This acquisition allows PASSUR to enhance its offerings by integrating Symphony's tools, which assist airport operations in management, noise monitoring, and analytics. With this agreement, PASSUR will now oversee support for over 120 commercial airport contracts, establishing itself as a leader in flight tracking and airport data services. The CEO stated this addition significantly broadens PASSUR’s market reach, promising enhanced service capabilities for its expanded customer base.

PASSUR Aerospace announced the launch of its ARiVA Deice Metering Program at YYC Calgary International Airport, enhancing deice operations for winter 2022-2023. The program optimizes deicing capacity and minimizes flight wait times, supporting airlines in scheduling and capacity management. PASSUR's ARiVA Platform features global flight tracking, weather reporting, and flight delay alerts, showcasing a swift implementation in just weeks. This collaboration emphasizes operational efficiency and aims to improve overall airport performance.

PASSUR Aerospace reported significant improvement in its operating performance for the three and nine months ended July 31, 2021, posting income from operations of $202,000 and $811,000, respectively. This contrasts with a loss of $1,971,000 in the previous year. However, revenues decreased to $1,510,000 for three months and $4,670,000 for nine months. The company also achieved high renewal rates and increasing business opportunities despite COVID-19 challenges.

PASSUR Aerospace, Inc. (OTC: PSSR) has expanded its contract with IATA to launch the Global ITOP, enhancing operational coordination and advisories for airlines. This platform aims to reduce disruptions and costs from irregular operations while bolstering resilience in industry recovery post-pandemic. Global ITOP incorporates collaborative planning and communication across all IATA regions, replacing previous services and integrating with PASSUR's ARiVA platform for improved decision support and efficiency. CEO Brian Cook emphasizes the partnership's role in advancing digital technology for the aviation sector.

PASSUR Aerospace has appointed Kurt Ekert as non-executive Vice Chairman, joining forces with CEO Brian Cook to explore growth capital opportunities. This leadership change comes as PASSUR transitions into a SAAS company, marked by the debut of the ARiVA technology platform, which enhances situational awareness for aviation experts. Ekert aims to leverage his experience to unlock the company's potential, which is positioned for strong growth in the aviation sector.

PASSUR Aerospace, Inc. (OTC: PSSR) reported improved operating income of $207,000 for the three months ending April 30, 2021, compared to $1,638,000 loss the previous year. For the six months, income was $609,000 versus a $1,980,000 loss last year. However, revenues declined to $1,462,000 and $3,160,000 for the respective periods. The company achieved a 100% contract renewal rate, emphasizing efforts toward profitability amid aviation downturns. A Payroll Support Program grant of $1,310,000 was also secured, aiding compensation costs.

PASSUR Aerospace, Inc. (OTC: PSSR) reported revenues of $1,698,000 for the three months ended January 31, 2021, marking a 60% decrease from $4,225,000 in the same period of fiscal 2020. However, the company achieved a net income of $135,000, or $0.02 per diluted share, compared to a net loss of $583,000, or $0.08 per diluted share, in the prior year. PASSUR also secured $2,185,000 in grants from the CARES Act for employee support and signed contracts with 21 new customers, showcasing resilience despite ongoing market challenges.

PASSUR Aerospace, Inc. (OTC: PSSR) reported fiscal year 2020 revenues of $11.53 million, down 23% from $15.05 million in 2019. The net loss reached $12.30 million, or $1.60 per diluted share, compared to a loss of $3.84 million, or $0.50 per diluted share, in FY 2019. Key impairments included $9.87 million related to software and network investments due to COVID-19 impacts. However, the company achieved positive operating income in Q3 and Q4 of 2020, driven by a shift to data-driven solutions and a significant $3 million grant from the CARES Act. The ARiVA platform expansion and new partnerships were noteworthy advancements.