| February 17, 2004
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 and six month fiscal periods ending December 31, 2003:
| |
Three Months Ended |
Six Months Ended |
| |
12/31/03 |
12/31/02 |
12/31/03 |
12/31/02 |
| |
_______US Dollars_______ |
_______US Dollars_______ |
| Total Revenues |
$ 729,899
|
$ 1,201,436
|
$ 1,876,519
|
$ 3,430,619
|
| Net (Loss) |
$ (426,728)
|
$ (142,186)
|
$ (616,224)
|
$ (110,202)
|
Net Loss
Per Share |
$ (0.04)
|
$ (0.001)
|
$ (0.06)
|
$ (0.01)
|
| Weighted Average Number of Shares Outstanding |
10,507,250 |
10,507,250 |
10,507,250 |
10,507,250 |
Commenting on the Company's results, Edward Spink,
TurboSonic's Chairman and CEO, noted, "Our
investment in sales resources to capitalize on
new air pollution control regulations, coinciding
with delays in order commitments, had an adverse
impact on earnings for the first half of the fiscal year.
Nevertheless, throughout this period we have
maintained solid margin levels and are greatly
encouraged by the improvement in order backlog
and customer satisfaction reflected in our recent
successful startups."
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
Email:info@turbosonic.com
|
