TurboSonic Technologies, Inc.
OTC Bulletin Board : TSTA

TurboSonic Technologies, Inc.

November 14, 2008 15:14 ET

TurboSonic Technologies Reports First Quarter Operating Results

WATERLOO, ONTARIO--(Marketwire - Nov. 14, 2008) - TURBOSONIC TECHNOLOGIES, INC. (OTCBB:TSTA), a global leader in the design and supply of industrial air pollution control technologies, today announced the following operating results for its first quarter ended September 30, 2008:

Three Months Ended
09/30/08 09/30/07
US Dollars
Total Revenues $ 5,046,151 $ 3,261,576
Income (Loss) before Provision for
(Recovery of) Income Taxes $ 64,279 $ (382,372)
Net Income (Loss) $ 29,564 $ (237,212)
Basic Earnings (Loss) per Share $ 0.00 $ (0.02)
Weighted Average Number of Shares Outstanding 15,130,054 15,130,054

Commenting on the Company's results, Edward Spink, TurboSonic CEO, said, "We completed the first quarter of this fiscal year with a net income, despite current economic conditions. Our backlog has grown to $15.1 million at September 30, 2008, of which approximately $2.2 million has been subsequently delayed for delivery beyond the end of this fiscal year.

We believe that the environment will remain front and center in the public and governmental agenda worldwide. President-elect Obama has made a commitment to the environment in his platform that supports this for the US market. Additionally, pending US Boiler MACT (Maximum Achievable Control Technology) legislation is expected to be re-enacted in early 2009.

TurboSonic has taken significant steps to diversify our product lines and geographical presence to both address economic cycles and to better seize the opportunities in many industries and diverse markets.

Prospective customers in all regions continue to report intentions to place orders for air pollution control systems and we believe that fiscal 2009 will continue to be a growth year for TurboSonic."

TurboSonic Technologies (www.turbosonic.com) designs and markets air pollution control technologies to industrial customers worldwide. Its products are designed to meet and exceed the strictest emissions regulations, improve performance and reduce operating costs.

Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Factors that impact such forward-looking statements include, among others, changes in general economic conditions, interest rates, government regulations, and competition.

Contact Information