Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

April 14, 2011 16:11 ET

Appulse Corporation: Reporting 2010 Results

CALGARY, ALBERTA--(Marketwire - April 14, 2011) - Appulse Corporation ("Appulse or the Corporation") (TSX VENTURE:APL) today reported revenues of $6,066,000 for the year ended December 31, 2010, compared to $5,346,000 for the previous year. Fourth quarter revenues were $1,466,000 compared to $1,368,000 for the same quarter of the previous year. The Corporation recorded a pre-tax loss from operations of $76,000 for the year compared to a pre-tax operating loss of $743,000 for the 2009 fiscal period. The net loss for the fiscal year ending December 31, 2010 was $138,000 ($.01 per share) compared to a net loss of $617,000 ($.05 per share) for the prior year. A positive operating cash flow for fiscal 2010 of $105,000 compares to a negative operating cash flow of $495,000 for the 2009 fiscal period.

Total revenue from the sale of centrifuge parts increased by 12% in 2010 when compared to the previous year while service revenues increased by 3%. Machine sale revenues were higher by 38% compared to the previous year although certain machine contribution margins were lower than expected.

In addition to improved revenues, operating and general administrative overheads were substantially reduced pursuant to a cost reduction program implemented in the second quarter of 2010. The Corporation looks forward to a further recovery in earnings during 2011. Marketing activities will continue to focus on food and beverage and environmental applications complemented by the development of encouraging new territories and increased activity in the western energy and mining industries.

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.

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.

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