Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

June 16, 2011 19:00 ET

Appulse Corporation: Reporting Results for the First Quarter of 2011

CALGARY, ALBERTA--(Marketwire - June 16, 2011) - Appulse Corporation ("Appulse") (TSX VENTURE:APL) today reported a net income of $16,000 for the three months ended March 31, 2011 with revenues of $1,374,000, compared to a loss of $13,000 and revenues of $1,895,000 for the same three-month period of the previous year. Operating cash flow (net income or loss for the period adjusted for finance expenses and items not involving cash) for the quarter ended March 31, 2011 of $84,000 compares to operating cash flow of $38,000 for the same three-month period of 2010.

Revenues from the sale of centrifuge parts and service increased compared to the first quarter of the previous year while the timing of machine sales resulted in the overall decrease in revenues. The impact of the revenue reduction was more than offset by the increase in the total gross margin percentage and a reduction in general and administrative costs. Parts and service activities are currently very strong at both the Calgary and Waterloo locations and management expects an increase in the level of machine sales during the remainder of the current year. The first quarter financial statements present the Corporation's first reporting under International Financial Reporting Standards ("IFRS"). Results of operations for the quarters ended March 31, 2011 and 2010 were not significantly impacted by the conversion to IFRS.

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.

Contact Information