Skip to main content

Appulse Corporation Reporting 2021 Results

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

CALGARY, March 25, 2022 (GLOBE NEWSWIRE) — Appulse Corporation (“Appulse” or “the Corporation”) (TSX-V:APL) today reported revenues of $9,233,000 for the year ended December 31, 2021, compared to $10,461,000 for the previous year. Income before tax for the 2021 fiscal period was $742,000 compared to $1,096,000 for the comparative 2020 year. Net income for the 2021 fiscal year was $742,000 ($.05 per share) compared to $1,096,000 ($.08 per share) for the prior year.    

The decline in total revenue during the 2021 fiscal year is attributed to a combination of factors. Covid-19 protocols and restrictions impacted the Corporation’s ability to complete certain services while also limiting travel and causing periodic staff shortages. The economic and political environment created a series of supply chain issues, particularly impacting the completion of services and shipment of machines prior to December 31, 2021. Machine sale revenues are recorded upon effective shipment of the product to customers. Several machine sales previously projected for inclusion in 2021 revenues, were delayed based on the availability of specific replacement parts. Certain of these service and machine sale revenues will be reflected in the second quarter of 2022.

Sales to customers in the United States during 2021 declined by over 30% compared to the prior year. Management looks forward to a recovery in revenues from United States customers during 2022. In addition, both the Calgary, Alberta and Waterloo, Ontario facilities are currently active, complemented by an encouraging list of firm and high prospect machine sales expected to enhance second and third quarter revenues.

The current world-wide political and economic environment creates significant uncertainty for many industries. The Corporation will remain focused on the growth of its food and beverage markets, representing approximately 80% of total revenues.   
  
About Appulse

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
Email: dbaird@centrifuges.net   

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.