| January 10, 2001
TURBOSONIC TECHNOLOGIES, INC. (OTC
Bulletin Board – TSTA), a world leader in air pollution control technology,
today announced that revenues for the six month fiscal period ended December
31, 2000 would approximate US$3.3 million (CDN$5.0 million). The company
further announced that based upon shipments to date, backlog of orders to be
shipped in the fiscal year ending June 30, 2001, and anticipated orders,
fiscal 2001 revenues should exceed US$12.0 million (CDN$18.4 million), more
than double those of fiscal 2000.
Edward Spink, TurboSonic’s Chairman and CEO, stated: "Our investment
over the last several years in research, product development, and marketing
are now paying off with record sales. We anticipate that our revenues for each
of the 3rd and 4th quarters of fiscal 2001 should
approximate US$4.4 million (CDN$6.7 million), which, if achieved, can be
expected to result in record fiscal year earnings and earnings per
share."
Mr. Spink also noted TurboSonic’s intention to enter a strategic alliance
with a major international company. The Company has already been in talks with
several companies interested in forming such an alliance. A large,
international strategic partner with established sales channels can better
market TurboSonic’s products on a global basis. The strategic partner
selected will benefit from access to TurboSonic’s advanced air pollution
control technologies, such as the SonicKleenTM WESP,
Turbotak Wet Scrubber, and
TurboSOx SO2 Recovery System.
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 and Mining, Cement, Waste
Processing & 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
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