Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

April 17, 2008 18:39 ET

Appulse Corporation: Reporting 2007 Results

CALGARY, ALBERTA--(Marketwire - April 17, 2008) - Appulse Corporation ("Appulse or the Corporation") (TSX VENTURE:APL) today reported record revenues of $ 6,926,000 for the year ended December 31, 2007, compared to $ 6,019,000 for the previous year. Fourth quarter revenues of $ 2,681,000 (2006-$ 1,317,000) also established a new quarterly high for the Corporation. Income from operations was $ 589,000 for fiscal 2007, compared to $ 294,000 for fiscal 2006.

The Corporation also recorded a future income tax recovery in the amount of $ 136,000, based upon it being more likely than not that the Corporation will be able to utilize the majority of its non-capital tax loss carryforwards in future years. In addition to income from operations and future income tax recoveries, the Corporation's share of equity investee income arising from a dilution gain and its share of equity loss (net of future income tax expense) resulted in additional non-cash income to the Corporation of $ 149,000. The Corporation's interest in the equity investee was previously carried at a nominal amount. These two components of net income are not expected to be repeated in future financial results.

The resultant total net income for the 2007 fiscal period was $ 874,000 ($.07 per share) compared to a net income of $ 200,000 ($.02 per share) for the previous year.

About Appulse

Through its primary subsidiaries, Centrifuges Unlimited Inc., Royln Oilfield Services Inc., and Design Machining Unlimited Inc., Appulse specializes in the sales, servicing and refurbishing of centrifuge equipment and parts throughout North America and Internationally 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.

Contact Information