| November 17, 2003
TURBOSONIC TECHNOLOGIES, INC. (OTC
Bulletin Board – TSTA), a leading provider of air pollution control
technology, today announced the following unaudited operating results
for the first three months of the fiscal year ending June 30, 2004:
| |
Three Months Ended |
| |
09/30/03 |
09/30/02 |
| |
_______US Dollars_______ |
| Total Revenues |
$ 1,146,620
|
$ 2,229,183
|
| Net (Loss) Income |
(189,496)
|
31,984
|
| Net (Loss) Income Per Share |
(0.02)
|
0.00
|
Weighted Average Number
of Shares Outstanding |
10,507,250 |
10,507,250 |
Commenting on the Company’s results, Edward Spink, TurboSonic’s Chairman
and CEO, said that, "the Company’s recent addition of new sales people
and related marketing expenses has increased our selling, general and
administrative costs, while at the same time revenues were negatively
impacted by delayed timing of new orders resulting from environmental
regulatory changes. We believe that the expansion of our sales capabilities
to respond to an increased number of requests for proposals should result in
the receipt of new orders, and the resulting revenues, in the near future."
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, Wood Products 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
E-mail: info@turbosonic.com
|