Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

May 18, 2016 16:15 ET

Appulse Corporation: Reporting Results for the First Quarter of 2016

CALGARY, ALBERTA--(Marketwired - May 18, 2016) - Appulse Corporation (TSX VENTURE:APL) ("Appulse") today reported a net income of $18,000 for the three months ended March 31, 2016 with revenues of $1,798,000, compared to a net income of $69,000 and revenues of $2,064,000 for the same three-month period of the previous year. Operating cash flow (net income for the period adjusted for items not involving cash) for the quarter ended March 31, 2016 of $83,000 compares to operating cash flow of $141,000 for the same three-month period of 2015.

Total centrifuge parts and service revenues for the quarter were lower by 17% compared to the last quarter of the prior year. The revenue increase through the Corporation's facility in Calgary was offset by reduced revenues from the Ontario facility and lower sales from the Corporation's exclusive Canadian representative agreement with Flottweg Separation Technology Inc. Management expects increases from both of these sources during the second quarter. While machine sales reflected only a modest increase over the previous quarter, machine sale revenue booked to date combined with purchase orders in hand for 2016 delivery total approximately $1,400,000, compared to machine sales of $1,790,000 for the entire 2015 fiscal year.

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

  • Doug Baird
    President
    Telephone: (403) 236-2883
    Facsimile: (403) 279-3342
    Email: dbaird@centrifuges.net

    Dennis Schmidt
    CFO
    Telephone: (403) 236-2883
    Facsimile: (403) 279-3342