Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

August 17, 2016 17:59 ET

Appulse Corporation: Reporting Results for the Six Months Ended June 30, 2016

CALGARY, ALBERTA--(Marketwired - Aug. 17, 2016) - Appulse Corporation (TSX VENTURE:APL) ("Appulse") today reported a net income of $94,000 for the six months ended June 30, 2016 with revenues of $4,010,000, compared to a net income of $117,000 and revenues of $4,236,000 for the same six-month period of the previous year. Operating cash flow (net income for the period adjusted for items not involving cash) for the six months ended June 30, 2016 of $249,000 compares to operating cash flow of $261,000 for the same six-month period of 2015.

Centrifuge parts and service revenues for the second quarter of 2016 showed an increase of 22% over the first quarter of the current fiscal period. Parts and service revenues for the six months to June 30, 2016, however, reflected a decrease of 14% over the same six-month period of the prior year. Machine sales were stronger during the second quarter. The total of machine sale revenues booked to June 30, 2016, and further machine purchase orders in hand for 2016 delivery, now exceeds $1,500,000. Sales continued to focus on the Corporation's traditional food and beverage and environmental applications. The Corporation continues to reinvest in growth with expanded marketing initiatives in Canada and the United States.

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
    Telephone: (403) 236-2883
    (403) 279-3342 (FAX)
    Email: dbaird@centrifuges.net

    Appulse Corporation
    Dennis Schmidt
    CFO
    Telephone: (403) 236-2883
    (403) 279-3342 (FAX)