| May 13, 2003
TURBOSONIC TECHNOLOGIES, INC. (OTC
Bulletin Board - TSTA), a leading provider of air pollution control
technology, today announced the following unaudited operating results for its
three month and nine month fiscal periods ending March 31, 2003:
| |
Three Months Ended |
Nine Months Ended |
| |
03/31/03 |
03/31/02 |
03/31/03 |
03/31/02 |
| |
_______US Dollars_______ |
_______US Dollars_______ |
| Total Revenues |
$ 1,501,940
|
$ 694,685
|
$ 4,932,559
|
$ 3,361,893
|
| Net (Loss) Income |
$ 10,500
|
$ (116,258)
|
$ (99,702)
|
$ (275,496)
|
Net Income
Per Share |
$ 0.001
|
$ (0.011)
|
$ (0.009)
|
$ (0.027)
|
| Weighted Average Number of Shares Outstanding |
10,507,250 |
10,343,831 |
10,507,250 |
10,343,831 |
Commenting on the Company's results, Edward Spink, TurboSonic's Chairman
and CEO, said, "We are pleased to report that our business continues to
improve. Revenues have increased 46% with steady improvement quarter-over-quarter over
last fiscal year, with consistently high levels of product inquiries. Bookings have also
increased 62%, indicating that our return to profitability is on track."
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
|
