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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Appulse Corporation | TSXV:APL | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.22 | 0.21 | 0.22 | 0 | 12:01:21 |
Appulse Corporation ("Appulse or the Corporation") (TSX VENTURE:APL) today reported revenues of $5,346,000 for the year ended December 31, 2009, compared to $6,607,000 for the previous year. Fourth quarter revenues were $1,368,000 compared to $1,369,000 for the same quarter of the previous year. The Corporation recorded a net loss of $617,000 ($.05 per share) for the year compared to a net loss of $177,000 ($.01 per share) for the 2008 fiscal period. Total revenue from the sale of parts increased by 10% in 2009 when compared to the previous year. Service revenues were also strong, reflecting a 29% increase over 2008. Machine sale revenues, however, were only $1,124,000 during the year, compared to $2,839,000 for the 2008 fiscal period. This reduction primarily reflected the impact of a difficult economic environment on customer capital acquisitions. 2009 results were also impacted by the Corporation's increased expenditures on marketing and sales and certain non-recurring charges including the Calgary facility relocation. The Corporation looks forward to a strong recovery in revenues and earnings during 2010. Revenues for the first quarter of 2010 will reflect a substantial increase over the same quarter of 2009. Firm orders for machine sales to be reflected during 2010 already exceed the total of machine sales recorded in 2009. In addition, programs addressing further reductions in overhead costs and inventory levels have been implemented. The Corporation's activities will continue to focus on food and beverage and environmental applications while addressing new potentials in waste-water management, mining and oil and gas. 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.
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