CALGARY, Alberta, Aug. 28, 2018 (GLOBE NEWSWIRE) -- Appulse Corporation (“Appulse”) (TSX VENTURE:APL) today reported a net income of $88,000 for the six months ended June 30, 2018 with revenues of $5,188,000, compared to a net income of $30,000 and revenues of $4,045,000 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, 2018 of $265,000 compares to EBITDA of $194,000 for the same six-month period of 2017.
Revenue from the sale of parts and service during the six-months to June 30, 2018 increased by 10% compared to the same six-month period of the prior year. Machine sale revenues also increased during the current period with a year-to-date total of $1,173,000 to June 30, 2018, compared to $410,000 for the same period of 2017. While revenues increased, the overall gross margin percentage was lower during the current period reflecting the variable nature of margins on machine sales and the composition of parts revenues, also subject to a wide range of margins depending on the predominant category of parts sold during a specific period. General and administrative costs increased by 11% compared to the prior year, primarily reflecting personnel costs and related expenses supporting the Corporation’s continued emphasis on market growth. Management noted that the Corporation has further expanded its relationships with certain European-based centrifuge manufacturers seeking reliable support for their parts and service operations in Canada.
About Appulse
Through its subsidiaries, Centrifuges Unlimited Inc. and Rolyn Oilfield Services Inc., Appulse specializes in the sale and service of new and refurbished industrial centrifuge equipment, serving both domestic and international markets, and offers full service industrial machining. The Corporation continues to focus on the expansion of 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