Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

November 20, 2008 13:46 ET

Appulse Corporation: Reporting Results for the Nine Months Ended September 30, 2008 and the Issuance of Stock Options

CALGARY, ALBERTA--(Marketwire - Nov. 20, 2008) - Appulse Corporation ("Appulse") (TSX VENTURE:APL) today reported revenues of $ 5,238,000 for the nine months ended September 30, 2008, compared to $ 4,245,000 for the same nine-month period of the previous year. Cash flow from operations was $ 344,000 to September 30, 2008, compared to $ 367,000 for the same nine-month period of 2007. Net income was $ 68,000 for the first nine months of 2008, compared to a net income of $ 214,000 for the same period of the previous year.

Revenue for the third quarter of 2008 increased by 29% over the same period of 2007. The gross margin percentage was lower than the prior year, however, reflecting a change in product mix during the quarter. In addition, overhead costs to September 30 were substantially higher than the prior year reflecting increased personnel costs and the Corporation's focus on future growth. Net income for the three-month period ending September 30, 2008 was $159,000, returning the Corporation to a modest profit year-to-date. Delays in machine orders, however, are expected to result in lower revenues and an operating loss during the fourth quarter.

Current worldwide economic conditions place new pressures on many industries. A traditional primary focus on food and beverage and environmental markets will reduce the effects of these pressures on the Corporation. In addition, management notes that the Corporation's market diversity and proven ability to provide a wide range of centrifuge alternatives, including refurbished equipment, should continue to provide Appulse with a base for future growth.

Appulse also reported the granting of an aggregate of 417,000 options to purchase common shares of the Corporation at a price of $ .10 per share. These options primarily replaced those expiring during 2008. 180,000 of these options were issued to Directors of the Corporation.

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, serving both domestic and international markets, and 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.

TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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