CALGARY, ALBERTA--(Marketwired - May 8, 2013) - Appulse Corporation (TSX VENTURE:APL) ("Appulse") today reported a net income of $6,000 for the three months ended March 31, 2013 with revenues of $1,708,000, compared to a net income of $29,000 and revenues of $1,544,000 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, 2013 of $71,000 compares to operating cash flow of $96,000 for the same three-month period of 2012.
Revenues from the sale of centrifuge parts increased 5% compared to the first quarter of the previous year while service revenues decreased 30% when compared to the first quarter of 2012. The Corporation noted that service and repair revenues are only recorded upon completion of the work thereby often leading to fluctuations between periods.
Machine sale revenues totaled $533,000 for the first quarter of 2013 compared to $284,000 for the same three-month period of the prior year. Management noted that the list of probable machine applications is strong and that the total of machine sales recorded to date and those firm orders for 2013 delivery now exceeds $1,200,000 compared to machine sales of $1,881,000 for the entire fiscal year of 2012.
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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