Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

April 17, 2013 16:27 ET

Appulse Corporation: Reporting 2012 Results

CALGARY, ALBERTA--(Marketwired - April 17, 2013) - Appulse Corporation (TSX VENTURE:APL) ("Appulse or the Corporation") today reported revenues of $7,207,000 for the year ended December 31, 2012, compared to $6,108,000 for the previous year. Fourth quarter revenues were $1,851,000 compared to $1,565,000 for the same quarter of the previous year. The Corporation recorded a pre-tax income of $249,000 for the year compared to $81,000 for the 2011 fiscal period. Net income attributable to the equity shareholders of the Corporation for the fiscal year ending December 31, 2012 was $ 166,000 ($.01 per share) compared to $55,000 ($.00 per share) for the prior year. An operating cash flow for fiscal 2012 of $456,000 compares to $292,000 for the 2011 fiscal period.

Total revenue from parts sales and service increased in 2012 by 14% over the prior year. Machine sale revenues of $1,881,000 in 2012 reflected an increase of 36% when compared to the 2011 figure of $1,385,000. The Corporation also reported a firm machine sales backlog for 2013 already exceeding $1,000,000. General and administrative costs increased during the year reflecting employee additions and marketing costs oriented to further growth during 2013.

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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