Appulse Corporation (“Appulse”) (Listed on the TSX Venture Exchange – Symbol ‘APL’) today reported a net income of $586,000 for the six months ended June 30, 2021 ($.04 per share), with revenues of $4,895,000, compared to a net income of $543,000 ($.04 per share), and revenues of $4,908,000 for the same six-month period of the previous year. Operating cash flow (net income for the period adjusted for items not involving cash) to June 30, 2021of $867,000 compares to operating cash flow of $815,000 for the same six-month period of 2020.

A 53% increase in machine sale revenues during the period offset an 11% decrease in service and parts revenues. The impact of a decrease in the sale of parts was further mitigated by a more efficient product mix and an increase in rental activity during the period. Net income, when compared to the same six-month period of 2020, was enhanced by a gain in foreign exchange, reflecting a relatively stronger Canadian currency. The total of machine sales recorded to June 30, 2021 and machine purchase orders now in hand for delivery during the last half of the year, now exceeds $1,800,000.

Service revenues will continue to be impacted by the Covid-19 pandemic during 2021. As an essential parts and service provider to the food and beverage processing industry, management looks forward to further growth as the impact of the pandemic subsides.

About Appulse

Through its subsidiaries, Centrifuges Unlimited Inc. and Rolyn Oilfield Services Inc., and operating divisions, 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, CFO Telephone: (403) 236-2883 Facsimile: (403) 279-3342 Email: dbaird@centrifuges.net 

 

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