CALGARY, ALBERTA--(Marketwired - Aug. 19, 2014) - Appulse Corporation (TSX VENTURE:APL) ("Appulse") today reported a net income of $90,000 for the six months ended June 30, 2014 with revenues of $4,036,000, compared to a net loss of $46,000 and revenues of $3,670,000 for the same six-month period of the previous year. Positive operating cash flow (net income or loss for the period adjusted for items not involving cash) for the six months ended June 30, 2014 of $258,000 compares to $77,000 for the same six-month period of 2013.
The total of centrifuge parts and service revenues increased by over 10% compared to the same six-month period of the prior year. In addition, revenues in the last half of the year are expected to reflect service revenues from the Corporation's exclusive Canadian service representative agreement with Flottweg Separation Technology Inc.
Machine sale revenues of $1,271,000 for the first half of 2014 compare to $1,109,000 for the same six-month period of the prior year. The overall contribution margin percentage on machine sales was lower, however, reflecting the type of machines sold in the period, and resulting in a total gross margin equivalent to that of the 2013 period. Machine sales recorded to date and those firm orders now in hand for 2014 delivery total $1,650,000 compared to machine sales of $1,646,000 for the entire fiscal year of 2013.
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.