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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% | 0.43 | 0.435 | 0.45 | 0 | 21:00:01 |
Appulse Corporation ("Appulse") (TSX VENTURE:APL) today reported revenues of $3,317,000 for the six months ended June 30, 2010, compared to $2,704,000 for the same six-month period of the previous year. The Corporation reported a net loss of $46,000 for the first six months of 2010, compared to a net loss of $275,000 for the same period of the previous year. A positive operating cash flow for the six-month period of $33,000 compares to a negative operating cash flow of $247,000 for the same period of 2009. The increase in revenue is primarily attributed to higher levels of parts and service sales. Operating and general administrative overhead costs were lower during the second quarter when compared to the previous year reflecting overhead cost reduction initiatives implemented during the first half of the year. While machine sales during the second quarter were low, current prospects indicate improved levels for the remainder of the year and service and parts activities continue to be strong at both the Calgary and Waterloo locations. At June 30, 2010, the Corporation has debentures outstanding in the amount of $165,000. The debentures are held by directors of the Corporation and were extended past their initial five-year term. The original debentures featured an option to convert to common shares. Pursuant to policy of the TSX Venture Exchange, such conversion options cannot extend further than five years and the Corporation has therefore cancelled the conversion option attached to the debentures. 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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