Appulse Corporation
TSX VENTURE : APL

Appulse Corporation

May 23, 2012 16:05 ET

Appulse Corporation: Reporting Results for the First Quarter of 2012

CALGARY, ALBERTA--(Marketwire - May 23, 2012) - Appulse Corporation ("Appulse") (TSX VENTURE:APL) today reported a net income of $29,000 for the three months ended March 31, 2012 with revenues of $1,544,000, compared to a net income of $16,000 and revenues of $1,374,000 for the same three-month period of the previous year. Operating cash flow (net income for the period adjusted for items not involving cash) for the quarter ended March 31, 2012 of $96,000 compares to operating cash flow of $76,000 for the same three-month period of 2011.

Revenues from the sale of centrifuge parts increased 6% compared to the first quarter of the previous year while service revenues increased 12%. Machine sale revenues were similar to levels of the same period of the previous year. Parts and service activities are currently very strong at both the Calgary and Waterloo locations and continued growth is expected in both of those areas.

Management notes that machine sale revenues will show a significant improvement over the next two quarters. This expectation is based upon the level of firm machine sales now in hand for the current year. Firm sales include those machine sales already reflected in revenue for the year in addition to those scheduled for current year delivery with firm purchase orders in hand. Firm machine sales for fiscal 2012 now exceed $1,600,000. The comparable firm machine sales figure at this point in time during 2011 was $875,000. In addition, other strong prospects are currently being addressed.

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)