Appulse Corporation

Appulse Corporation

November 23, 2011 17:23 ET

Appulse Corporation: Reporting Results for the Three and Nine Months Ended September 30, 2011

CALGARY, ALBERTA--(Marketwire - Nov. 23, 2011) - Appulse Corporation (TSX VENTURE:APL) ("Appulse") today reported a net income of $162,000 ($.013 per share) for the third quarter of 2011, compared to a net loss of $73,000 ($.006 per share) for the same three-month period of the previous year. Results for the nine-month period ended September 30, 2011 reflected a net income of $112,000($.009 per share) with revenue of $4,542,000, compared to a loss of $109,000($.009 per share) and revenues of $4,599,000 for the same nine-month period of the previous year. Operating cash flow (net income or loss for the period adjusted for finance expenses and items not involving cash) for the nine months ended September 30, 2011 of $348,000 compares to an operating cash flow of $65,000 for the same nine-month period of 2010.

Revenue from the sale of centrifuge parts continued to increase during 2011. This trend is consistent with the past three years and is expected to continue. While revenues from service and machine sales were lower during the nine-month period compared to the prior year, the impact of lower sales levels was offset by higher contribution margins realized during the current period. The improved margins, and a 7% reduction in general and administrative costs compared to the prior year, enabled the Corporation to return to profitability for the nine-month period.

The third quarter financial statements present the Corporation's third reporting under International Financial Reporting Standards ("IFRS"). Results of operations for the nine-month periods ending September 30, 2011 and 2010 were not significantly impacted by the conversion to IFRS.

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 and the manufacture and sale of centrifuge parts, serving both domestic and international markets. In addition, the Corporation 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 and on SEDAR at 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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