| May 8, 2000
TURBOSONIC TECHNOLOGIES, INC. (OTC
Bulletin Board - TSTA) has announced the following unaudited operating results
for its three-month and nine-month fiscal periods ending March 31, 2000:
| |
Three Months Ended |
Nine Months Ended |
| |
3/31/00 |
3/31/99 |
3/31/00 |
3/31/99 |
| |
_______US Dollars_______ |
_______US Dollars_______ |
| Total Revenues |
$ 1,917,486
|
$ 1,043,370
|
$ 4,566,639
|
$ 3,063,844
|
| Net Income |
$ 75,196
|
$ 3,207
|
$ 76,243
|
$ 51,463
|
| Net Income Per Share |
$ 0.008
|
$ 0.000
|
$ 0.008
|
$ 0.005
|
| Weighted Average Number of Shares Outstanding |
10,000,000 |
10,000,000 |
10,000,000 |
10,000,000 |
Sales for the first nine months of this fiscal year have increased by 49%
compared to the same period in 1999, and are almost double those for the same
period in 1998. Year-to-year, third quarter earnings are up 2245% from the
same period in the previous year. The Company’s present order backlog of
$1,967,000 continues at record levels and is 337% more than the prior year’s
backlog of $450,000.
Commenting on the Company’s performance for the third quarter and nine
months, Patrick Forde, TurboSonic’s President, said, "Our investment in
R&D and marketing has clearly paid off. The innovations and relationships
we have developed as a result of this investment are being recognized by
industry. As a result, our revenues reflect industry’s strong interest. We
feel that there is significant potential for our proprietary technologies in
the growing air pollution control marketplace."
TurboSonic Technologies designs and markets proprietary air pollution control technologies to industrial customers worldwide. Its products are designed to meet and exceed the strictest emissions regulations, improve performance, reduce operating costs and recover valuable by-products. Industries served include Pulp & Paper, Metals & Mining, Cement, Waste Incineration, Power Generation and Petrochemicals.
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward looking statement. Factors that impact such forward looking statements include, among others, changes in worldwide general economic conditions, changes in interest rates, government regulations, and worldwide competition.
For further information, contact:
Patrick Forde, President
TurboSonic Technologies, Inc.
550 Parkside Drive, Suite A-14, Waterloo, Ontario, Canada N2L 5V4
Phone: (519) 885-5513, Fax: (519) 885-6992
|
