|By Marketwired .||
|August 26, 2013 05:00 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 08/26/13 -- Appulse Corporation ("Appulse") (TSX VENTURE:APL) today reported a net loss of $46,000 for the six months ended June 30, 2013 with revenues of $3,670,000, compared to a net income of $122,000 and revenues of $3,594,000 for the same six-month period of the previous year. Positive operating cash flow (net income or loss for the period adjusted for items not involving cash) for the six months ended June 30, 2013 of $77,000 compares to $283,000 for the same six-month period of 2012.
Revenues from the service and refurbishing of customer centrifuge equipment was lower by 9% when compared to the same six-month period of the prior year while the sale of centrifuge parts showed a modest increase. The Corporation's ability to expand service and parts revenues will be supported by the recent relocation of the Ontario division to a larger and more efficient facility. Management also noted the conclusion of arrangements to provide a substantially increased service capability in the western USA. The continuing growth in revenues from the sale of parts and refurbished centrifuge equipment to this area will now be supported by the ability to provide complementary service at customer locations.
Machine sales increased by 13% compared to the prior year. The total of machine sales booked to date and further purchase orders currently in hand exceeds $2,000,000, compared to a total of $1,881,000 for the entire fiscal period 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.
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.