TurboSonic Technologies, Inc.
OTC Bulletin Board : TSTA

TurboSonic Technologies, Inc.

May 15, 2006 16:28 ET

TurboSonic Inc. Reports Third Quarter Operating Results

WATERLOO, ONTARIO--(CCNMatthews - May 15, 2006) - TURBOSONIC TECHNOLOGIES, INC. (OTCBB:TSTA), a leading provider of air pollution control technology, today announced the following unaudited operating results for the third quarter and first nine months of its fiscal year ending June 30, 2006:




Three Months Ended Nine Months Ended

03/31/06 03/31/05 03/31/06 03/31/05

US Dollars

Total Revenues
$ 3,154,502 $ 4,080,602 $ 13,182,888 $ 7,754,593
Net Income
(Loss) $ 32,091 $ 22,685 $ 781,555 $ (323,527)
Net Income (Loss)
per Share $ 0.00 $ 0.00 $ 0.06 $ (0.02)
Weighted Average
Number of
Shares
Outstanding 13,372,842 13,134,030 13,267,406 13,134,030


Commenting on the Company's results, Edward Spink, TurboSonic's Chairman and CEO, said, "We have now completed five successive profitable quarters and are carrying a backlog of $10.4 million into the fourth quarter of our current fiscal year. Customer deferral of deliveries caused a delay in revenue recognition in the third quarter, which is expected to be recognized in the first two quarters of fiscal 2007. Despite these deferrals, we have achieved a record level of profitability for the first nine months of the fiscal year, which is $1.1 million greater than the same period one year ago."

TurboSonic Technologies (www.turbosonic.com) designs and markets air pollution control technologies to industrial customers worldwide. Its products are designed to meet and exceed the strictest emissions regulations, improve performance, reduce operating costs and recover valuable by-products.

Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Factors that impact such forward-looking statements include, among others, changes in general economic conditions, interest rates, government regulations, and competition. . For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statement, see the annual report on Form 10-KSB and other documents the Company files from time to time with the Securities and Exchange Commission.

Contact Information