CALGARY, Alberta, Nov. 20, 2019 (GLOBE NEWSWIRE) -- 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.
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, CFO
Telephone: (403) 236-2883
Facsimile: (403) 279-3342