CALGARY, Alberta, Aug. 17, 2017 (GLOBE NEWSWIRE) -- Appulse Corporation (“Appulse”) (TSX-V:APL) today reported a net income of $30,000 for the six months ended June 30, 2017 with revenues of $4,045,000, compared to a net income of $94,000 and revenues of $4,010,000 for the same six-month period of the previous year. EBITDA (earnings before interest, tax and amortization) for the six-month period ended June 30, 2017 of $194,000 compares to EBITDA of $276,000 for the same six-month period of 2016.
Service revenues for the six-months to June 30, 2017 increased by 15% compared to the same six-month period of the prior year. The sale of parts also increased while the sale of machines was substantially lower, reflecting a delay in delivery of certain centrifuge machines for which revenue will be recorded in the third quarter. Management notes that in addition to the increased machine revenues to be recorded, both the Calgary and Waterloo facilities remain active, leading to the expectation of a strong increase in sales and income for the third quarter. The Corporation continues to expand its market coverage and diversify the range of applications for its products, and is currently in discussions with further internationally based centrifuge manufacturers seeking reliable support for their operations in Canada.
About Appulse
Through its subsidiaries, Centrifuges Unlimited Inc., Rolyn Oilfield Services Inc., and Design Machining Unlimited 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 pursue expansion to 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.
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