Appulse Corporation: Reporting results for the Nine Months ended September 30, 2018

CALGARY, Alberta, Nov. 16, 2018 (GLOBE NEWSWIRE) -- Appulse Corporation ("Appulse") today reported a net income of $138,000 for the nine months ended September 30, 2018 with revenues of $7,285,000, compared to a net income of $75,000 and revenues of $6,505,000 for the same nine-month period of the previous year. EBITDA (earnings before interest, tax and amortization) for the nine months ended September 30, 2018 of $405,000 compares to EBITDA of $333,000 for the same nine-month period of 2017.

Revenues from the sale of centrifuge parts and service increased by 9% compared to the same nine-month period of the prior year. This increase primarily reflects the expansion of the Corporation's customer base and related growth in demand for the supply of quality parts. Machine sale revenue also increased, reflecting a growth of 18% compared to 2017. In addition, management noted that 2018 fourth quarter revenues are expected to exceed those of the same quarter of the prior year.

Management further noted that Centrifuges Unlimited Inc. has been appointed the exclusive Canadian service representative for Pieralisi North America Inc., a subsidiary of the Pieralisi group of Italy, a major OEM manufacturer of centrifuge equipment.   

About Appulse

Through its subsidiaries, Centrifuges Unlimited Inc. and Rolyn Oilfield Services 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 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: [email protected]