Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

November 21, 2014 15:37 ET

Appulse Corporation: Reporting Results for the Nine Months Ended September 30, 2014

CALGARY, ALBERTA--(Marketwired - Nov. 21, 2014) - Appulse Corporation ("Appulse") (TSX VENTURE:APL) today reported a net income of $ 66,000 for the nine months ended September 30, 2014 with revenues of $ 5,653,000, compared to a net loss of $ 165,000 and revenues of $ 5,068,000 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, 2014 of $ 360,000 compares to $ Nil for the same nine-month period of 2013.

A net loss of $ 23,000 was reported for the three months ended September 30, 2014, compared to a net loss of $ 119,000 for the same quarter of the previous year. Three-month revenues were $ 1,617,000 compared to $1,398,000 for the third quarter of 2013.

Total revenue from the sale of parts, service and refurbishing of centrifuge equipment for the nine-month period increased by 13% compared to the prior year. While Ontario parts and service sales were lower than the previous year, sales levels from our Calgary location reflected a substantial increase from the same nine-month period of the prior year. Both facilities are currently very active and management expects further increases in parts and service revenues during the fourth quarter. Activities related to the Corporation's exclusive Canadian service and parts representative agreement with Flottweg Separation Technology Inc. have now commenced and the fourth quarter will reflect both service and parts revenues from Flottweg customers. The Corporation anticipates further growth of this business during 2015.

Machine sale revenue booked to date combined with further purchase orders currently in hand for delivery during the final quarter total $ 1,900,000, compared to 2013 machine sales of $1,646,000.

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.

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)