PASSUR Aerospace Reports Revenue Increase of 22% for Fiscal Year 2010

STAMFORD, Conn., Feb. 1, 2011 /PRNewswire/ -- PASSUR Aerospace, Inc. (OTC Bulletin Board: PSSR), a business intelligence software and solutions company, announced a revenue increase of 22% to $10,958,000 for the year ended October 31, 2010, compared to $8,960,000 in FY2009. Operating profit for FY2010 was up approximately 14% to $1,443,000, compared to $1,271,000 in FY2009. Net Income was $21,000 or $.00 per diluted share, compared to $154,000 or $.03 per diluted share in FY2009. Highlights of fiscal year 2010 included:

• 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.
• Increased the Company's intellectual property portfolio by filing an additional 14 patents - all relating to improved business intelligence or predictive analytics, with particular emphasis on Departure Metering. The Company currently owns 7 issued patents, plus an additional 27 patents which are pending with the United States Patent Office. The Company has the exclusive license rights to use 13 patents in the United States as well as in various foreign countries, relating to the Company's PASSUR® System and associated technologies.
• 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.

"2010 was an important milestone year for PASSUR - all of our key company metrics improved and the sales growth we realized in all areas of our business represents strong customer demand for our business intelligence and predictive analytics programs and could not have been possible without the investments we've made in the past several years - with over $1 million invested in new product development in 2010," said Jim Barry, PASSUR Aerospace's President & CEO.

"We really like the way our business model is working. PASSUR has spent more than ten years building what we believe is the largest private radar network in the world with over 150 locations. We have coupled the network with unique software designed to solve problems, save money, and, most importantly, enhance the level of customer service in the $20 billion-plus U.S. market for airline delays and cancellations," said G.S. Beckwith Gilbert, PASSUR Aerospace's Chairman of the Board.

About PASSUR Aerospace, Inc.

PASSUR Aerospace, Inc. is a business intelligence company that provides predictive analytics built on proprietary algorithms and the concurrent integration and simultaneous mining of multiple databases. We believe we offer the industry standard in business intelligence dashboards and predictive analytics for aviation organizations. PASSUR serves dozens of airlines (including 6 of the top 7 North American airlines), all 5 of the top hub carriers, more than 50 airport customers (including 10 of the top 15 North American airports), and approximately 200 corporate aviation customers, as well as the U.S. Government. PASSUR's system is driven by proprietary, patented, business intelligence software, which is powered by a unique North American network of 154 passive radars, company owned, and covers 98 of the top 100 North American airports. Other PASSURs are located in Europe and Asia. Flight tracks are updated every 4.6 seconds, thereby providing a system which is user-friendly and useful for decision making.

Visit PASSUR Aerospace's website at http://www.passur.com for updated news, products, and solutions.

Forward-Looking Statements

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.

SOURCE PASSUR Aerospace, Inc.