Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

August 07, 2012 17:02 ET

Appulse Corporation: Reporting Results for the Six Months Ended June 30, 2012

CALGARY, ALBERTA--(Marketwire - Aug. 7, 2012) - Appulse Corporation (TSX VENTURE:APL) ("Appulse") today reported a net income of $122,000 for the six months ended June 30, 2012 with revenues of $3,594,000, compared to a loss of $50,000 and revenues of $2,678,000 for the same six-month period of the previous year. Operating cash flow (net income or loss for the period adjusted for items not involving cash) for the six months ended June 30, 2012 of $283,000 compares to operating cash flow of $52,000 for the same six-month period of 2011.

Revenues from the service and refurbishing of customer centrifuge equipment increased by 25% compared to the same six-month period of the prior year. Both Calgary and Waterloo facilities contributed to the increase and both locations continue to be very active to date. The Corporation will continue to expand its servicing capabilities in the third quarter. The sales of centrifuge parts increased by 7% over the first six months of 2011, primarily related to the growth of our customer base in Quebec and Ontario, supported by the expanded production capabilities of Design Machining Unlimited, the Corporation's machining affiliate.

The sale of centrifuge machines during the six months to June 30, 2012 totaled $977,000 compared to only $291,000 for the comparable period of 2011. With purchase orders in hand, machine sales for the 2012 fiscal period will exceed $1,900,000.

General and administrative expenses increased during the period primarily related to an expanded marketing and support structure expected to result in continued growth in all areas.

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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