CALGARY, ALBERTA--(Marketwire - April 13, 2012) - Appulse Corporation (TSX VENTURE:APL) ("Appulse or the Corporation") today reported revenues of $6,108,000 for the year ended December 31, 2011, compared to $6,066,000 for the previous year. Fourth quarter revenues were $1,565,000 compared to $1,466,000 for the same quarter of the previous year. The Corporation recorded a pre-tax operating income of $124,000 for the year compared to a pre-tax operating loss of $68,000 for the 2010 fiscal period. The net income for the fiscal year ending December 31, 2011 was $ 44,000 ($.00 per share) compared to a net loss of $159,000 ($.01 per share) for the prior year. An operating cash flow for fiscal 2011 of $292,000 compares to $105,000 for the 2010 fiscal period.
Total revenue from parts sales and service increased by 7% in 2011 when compared to the previous year. While machine sale revenues decreased by 11% in 2011 when compared to 2010, the Corporation reports a firm machine sales backlog for 2012 of approximately $1,500,000, already exceeding the total machine sales recorded for the 2011 fiscal period. General and administrative costs were reduced by 4% during the 2011 fiscal period when compared to the previous year.
Fiscal 2011 represents the Corporation's first annual period of reporting under International Financial Reporting Standards ("IFRS"). There were no significant adjustments to the Corporation's financial results related to the conversion to IFRS.
Through its subsidiaries, Centrifuges Unlimited Inc., Rolyn Oilfield Services Inc., and Design Machining Unlimited 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 pursue expansion to its product base and geographic markets, in addition to adopting a program of controlled acquisitions complementing its current activities.
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.