Appulse Corporation: Reporting results for the First Quarter of 2019
May 16 2019 - 5:00PM
Appulse Corporation (“Appulse”) (TSX VENTURE: APL) today
reported a net income of $64,000 for the three months ended March
31, 2019 with revenues of $2,450,000, compared to a net income of
$16,000 and revenues of $2,389,000 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, 2019 was $212,000.
Centrifuge parts revenue continued to grow during the period,
reflecting a 20% increase compared to the same quarter of the prior
year. The contribution margin realized on the sale of parts was
lower than the prior year due primarily to the relative mix between
internally manufactured parts and those obtained through third
parties. Service revenues also increased during the quarter, while
machine sales were lower than the same quarter of the prior year.
Management expects a recovery in machine sales commencing in the
second quarter and noted that firm machine sale orders for the 2019
fiscal year now total over $1,200,000 compared to machine sales of
only $128,000 during the first quarter. Both of the Corporation’s
facilities are very active and management anticipates continued
growth in revenue during 2019 with an emphasis on its traditional
food and beverage customers and increasing involvement in
environmental applications.
About Appulse
Through its subsidiaries, Centrifuges Unlimited Inc. and Rolyn
Oilfield Services 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 expand its product base and
geographic markets, in addition to pursuing further representative
arrangements and joint venture opportunities.
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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Doug Baird, President, or Dennis Schmidt, CFOTelephone: (403)
236-2883Facsimile: (403) 279-3342Email: dbaird@centrifuges.net
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