TurboSonic logo

TurboSonic Technologies Reports
Full Year Operating Results

September 29, 2004

TURBOSONIC TECHNOLOGIES, INC. (OTC Bulletin Board – TSTA), a leading provider of air pollution control technology, today announced the following audited operating results for its twelve-month fiscal year ending June 30, 2004:

  Twelve Months Ended
  6/30/04 6/30/03
  _______US Dollars_______
Total Revenues
$ 4,722,557
$ 6,099,741
Net (Loss) Income
(781,607)
(683,695)
Net (Loss) Income Per Share

(0.07)

(0.07)

Weighted Average Number
of Shares Outstanding
10,507,237 10,507,250

Commenting on the Company's results, Edward Spink, TurboSonic's Chairman and CEO, said, "While we are disappointed with our performance in fiscal 2004, we closed the year with a profitable fourth quarter, considerably improved margins and a record backlog entering a fiscal year, at $5.3 million. We significantly reduced operating costs by consolidating our project management services into one location, thereby improving efficiencies."

Mr. Spink added, "We have positioned ourselves through our marketing efforts to benefit over the next several years from the recent enactment of new governmental regulations affecting virtually all of our focus industries."


TurboSonic Technologies designs and markets 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.

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
 
 © 1998- TurboSonic Technologies, Inc. Legal.