|By Marketwired .||
|November 29, 2016 04:05 PM EST|
CALGARY, ALBERTA -- (Marketwired) -- 11/29/16 -- Appulse Corporation ("Appulse") (TSX VENTURE: APL) today reported a net income of $122,000 for the nine months ended September 30, 2016 with revenues of $6,180,000, compared to a net income of $140,000 and revenues of $6,375,000 for the same nine-month period of the previous year. Operating cash flow (net income for the period adjusted for items not involving cash) for the nine months ended September 30, 2016 of $352,000 compares to operating cash flow of $349,000 for the same nine-month period of 2015.
While service revenues to September 30, 2016 increased compared to the same nine-month period of 2015, sales of parts and machines were lower than the prior year resulting in a decrease of 3% in total revenues. The final quarter of 2016 is expected to reflect service and parts revenues consistent with previous quarters while machine sales will be below budgeted levels resulting in total fourth quarter revenues falling below those of the previous year. Sales have focused on traditional food and beverage and environmental applications. The Corporation continues to reinvest in growth with expanded marketing initiatives in Canada and the United States.
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 expand its product base and geographic markets, in addition to adopting a program of strategic relationships 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.
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