Appulse Corporation: Reporting Results for the Three and Nine Months Ended September 30, 2011
23 Novembro 2011 - 8:23PM
Marketwired
Appulse Corporation (TSX VENTURE:APL) ("Appulse") today reported a
net income of $162,000 ($.013 per share) for the third quarter of
2011, compared to a net loss of $73,000 ($.006 per share) for the
same three-month period of the previous year. Results for the
nine-month period ended September 30, 2011 reflected a net income
of $112,000($.009 per share) with revenue of $4,542,000, compared
to a loss of $109,000($.009 per share) and revenues of $4,599,000
for the same nine-month period of the previous year. Operating cash
flow (net income or loss for the period adjusted for finance
expenses and items not involving cash) for the nine months ended
September 30, 2011 of $348,000 compares to an operating cash flow
of $65,000 for the same nine-month period of 2010.
Revenue from the sale of centrifuge parts continued to increase
during 2011. This trend is consistent with the past three years and
is expected to continue. While revenues from service and machine
sales were lower during the nine-month period compared to the prior
year, the impact of lower sales levels was offset by higher
contribution margins realized during the current period. The
improved margins, and a 7% reduction in general and administrative
costs compared to the prior year, enabled the Corporation to return
to profitability for the nine-month period.
The third quarter financial statements present the Corporation's
third reporting under International Financial Reporting Standards
("IFRS"). Results of operations for the nine-month periods ending
September 30, 2011 and 2010 were not significantly impacted by the
conversion to IFRS.
About Appulse
Through its subsidiaries, Centrifuges Unlimited Inc., Rolyn
Oilfield Services Inc., and Design Machining Unlimited Inc.,
Appulse specializes in the sales, servicing and refurbishing of
centrifuge equipment and the manufacture and sale of centrifuge
parts, serving both domestic and international markets. In
addition, the Corporation offers full service industrial machining.
The Corporation continues to pursue expansion to its product base
and geographic markets, in addition to adopting a program of
controlled acquisitions complementing its current activities.
Further information on Appulse and its subsidiaries can be
obtained through the Corporation's website, at www.appulsecorp.net
and on SEDAR at www.sedar.com. Certain statements in this release
are forward looking and the reader is cautioned that such
information, although considered reasonable by the Corporation at
the time of preparation, may prove to be incorrect.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Appulse Corporation Doug Baird President (403)
236-2883 (403) 279-3342 (FAX)dbaird@centrifuges.net Appulse
Corporation Dennis Schmidt CFO (403) 236-2883 (403) 279-3342
(FAX)www.appulsecorp.net
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