Appulse Corporation: Reporting results for the Nine Months ended September 30, 2019
November 20 2019 - 5:00PM
Appulse Corporation (“Appulse”)
(Listed on the TSX
Venture Exchange – Symbol ‘APL’) today reported a net
income of $ 363,000 for the nine months ended September 30, 2019
with revenues of $7,615,000, compared to a net income of $138,000
and revenues of $7,285,000 for the same nine-month period of the
previous year. Total shareholder’s equity at September 30, 2019 was
$ 3,847,000 compared to $ 3,440,000 at September 30, 2018.
Revenues from the sale of centrifuge parts and service increased
by 5% compared to the same nine-month period of the prior year.
Rental revenue also reflected an increase during the period and is
expected to continue to grow, providing further flexibility to the
Corporation’s customers. While machine sale revenues were lower
than the previous year, management expects 2019 year-end machine
sale revenues to exceed those of the 2018 fiscal period. Firm
machine sale orders, including those recorded to September 30, now
exceed $2,400,000.
The Corporation continues to rely on the food and beverage
industry for its primary source of revenue while developing further
environmental applications including wastewater cleaning.
About Appulse
Through its subsidiaries, Centrifuges Unlimited Inc. and Rolyn
Oilfield Services Inc., Appulse specializes in the sales, servicing
and refurbishing of industrial 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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