Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

November 08, 2013 16:05 ET

Appulse Corporation: Reporting Results for the Nine Months Ended September 30, 2013

CALGARY, ALBERTA--(Marketwired - Nov. 8, 2013) - Appulse Corporation ("Appulse") (TSX VENTURE:APL) today reported a net loss of $165,000 for the nine months ended September 30, 2013 with revenues of $5,068,000, compared to a net income of $181,000 and revenues of $5,357,000 for the same nine-month period of the previous year. Operating cash flow (net income or loss for the period adjusted for items not involving cash) for the nine months ended September 30, 2013 of $Nil compares to $417,000 for the same nine-month period of 2012.

Total revenue from the service and refurbishing of customer centrifuge equipment was lower by 12% compared to the same nine-month period of the prior year, primarily reflecting the timing of major customer maintenance requirements and the relocation of the Ontario facility. While the relocation negatively impacted revenues during July and August, the new facility will provide a base from which to expand both service and parts activities in the future. Ontario and Quebec offer the highest potential for expansion of the Corporation's customer base. The expanded facility will also enable the Corporation to more efficiently meet the requirements of its exclusive Canadian service and parts representative agreement with Flottweg Separation Technology Inc.

Machine sales for the nine-month period were consistent with the prior year. The total of machine sales booked to date combined with further purchase orders currently in hand for delivery during the final quarter exceeds $2,000,000, compared to 2012 machine sales of $1,881,000.

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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