CALGARY, Alberta, Aug. 14, 2019 (GLOBE NEWSWIRE) — Appulse Corporation (“Appulse”) (Listed on the TSX Venture Exchange – Symbol ‘APL’) today reported a net income of $279,000 for the six months ended June 30, 2019 with revenues of $5,460,000, compared to a net income of $88,000 and revenues of $5,188,000 for the same six-month period of the previous year. Total shareholder’s equity at June 30, 2019 was $3,752,000 compared to $3,347,000 at June 30, 2018.
Centrifuge parts and service revenues continued to grow during the 2019 period, reflecting a total increase of 12% compared to the same six-month period of the prior year. The total direct contribution margin percentage on sales was also higher compared to the previous year, as reflected in the increased gross margin shown in the income statement. Rental revenues also increased, while machine sales were lower than the same six-month period of the prior year. Management noted that machine sales will recover over the remainder of 2019. Firm machine sale orders for the 2019 fiscal year, including those recorded to June 30, now exceed $1,900,000 compared to total machine sales for the 2018 fiscal year of $1,932,000.
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, CFO
Telephone: (403) 236-2883
Facsimile: (403) 279-3342