| September
21, 2005
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, 2005:
|
Twelve
Months Ended |
| |
6/30/05 |
6/30/04 |
| |
_______US
Dollars_______ |
| Total
Revenues |
$ 11,095,577
|
$ 4,722,557
|
| Net
(Loss) Income |
(227,196)
|
(781,607)
|
| Net
(Loss) Income Per Share |
(0.02)
|
(0.06)
|
Weighted
Average Number
of Shares Outstanding1 |
13,134,030 |
13,134,046 |
Note 1 –
number of shares reflects total after the July 2005 5-for-4 stock split
Commenting on the
Company’s results, Edward Spink, TurboSonic Chairman
and CEO, said, “Our mission to lead our industry is
delivering solid
results. Together with strengthened resources to optimize product
costs, project management and customer service, our relationships with
alliance partners are giving us increased visibility in the US and
internationally. We have reduced our loss significantly over our
previous fiscal year, and we have almost doubled our previous record
backlog, entering the 2006 fiscal year at $10.2 million versus last
year’s $5.3 million.”
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 a discussion of such risks and
uncertainties, which could cause actual results to differ from those
contained in the forward-looking statement, see the annual report on
Form 10-KSB and other documents the Company files from time to time
with the Securities and Exchange Commission.
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
|