Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

April 14, 2016 16:30 ET

Appulse Corporation: Reporting 2015 Results

CALGARY, ALBERTA--(Marketwired - April 14, 2016) - Appulse Corporation ("Appulse" or "the Corporation") (TSX VENTURE:APL) today reported revenues of $8,368,000 for the year ended December 31, 2015, compared to $7,640,000 for the previous year. Fourth quarter revenues were $1,993,000 compared to $1,987,000 for the same quarter of the previous year. Net income attributable to the equity shareholders of the Corporation for the fiscal year ending December 31, 2015 was $161,000 ($.01 per share) compared to $158,000 ($.01 per share) for the prior year. A 2015 positive cash flow from operations of $436,000 compares to $519,000 for the 2014 fiscal period. Cash flow from operations is defined as net income or loss adjusted for items not affecting cash.

Revenue from the sale of centrifuge parts and service increased by 14% during 2015. Management noted that a significant reduction in revenues from the oil and gas industry was more than offset by continued growth in Ontario and Quebec and the further expansion of parts activity under the Corporation's representative arrangement with Flottweg Separation Technology Inc. While machine sale revenue decreased by 8% to a level of $1,790,000 in 2015, the Corporation now has approximately $1,000,000 in firm orders for centrifuge machines for delivery during the first half of 2016. The Corporation's primary markets will continue to include food and beverage production, environmental and wastewater solutions and a variety of manufacturing applications.

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 investment 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.

 

Contact Information

  • Appulse Corporation
    Doug Baird
    President
    (403) 236-2883
    (403) 279-3342 (FAX)
    dbaird@centrifuges.net

    Appulse Corporation
    Dennis Schmidt
    CFO
    (403) 236-2883
    (403) 279-3342 (FAX)