Appulse Corporation: Reporting 2019 results
April 22 2020 - 4:38PM
Appulse Corporation (“Appulse” or “the
Corporation”)
(Listed on the TSX Venture Exchange –
Symbol ‘APL’) today reported revenues of $11,095,000 for
the year ended December 31, 2019, compared to $9,749,000 for the
previous year. Income before tax for the 2019 fiscal period was
$894,000 compared to $233,000 for the comparative 2018 year. Net
income for the 2019 fiscal year was $859,000 ($.06 per share)
compared to $168,000 ($.01 per share) for the prior year.
The 14% increase in total revenues during 2019, as compared to
the previous year, included a 9% increase in the sale of parts, a
13% increase in service revenues, and a 23% increase in revenue
from the sale of centrifuge machines. A volatile economic
environment often leads to an increased interest in
high-quality refurbished machines, offering significant savings
compared to new equipment alternatives. In addition to the revenue
increase, the Corporation’s total gross margin percentage also
increased during the 2019 fiscal period.
The world is facing a continuing battle against COVID-19, a
pandemic with an immense impact on economies, individuals and
businesses alike. Appulse and its primary operating group,
Centrifuges Unlimited Inc., will remain focused on the development
of its food and beverage markets, traditionally representing
approximately 75% of total revenues. The Corporation is an
essential supplier to food and beverage producers and continues to
be fully operative at both the Calgary, Alberta and Waterloo,
Ontario facilities.
About Appulse
Through its subsidiaries, Centrifuges Unlimited Inc., and Rolyn
Oilfield Services 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 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, CFOTelephone: (403)
236-2883Facsimile: (403) 279-3342Email: dbaird@centrifuges.net
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