| May 15, 2006
TurboSonic
Technologies, Inc. (OTC Bulletin Board – TSTA),
a
leading
provider of air pollution control technology, today announced the
following
unaudited operating results for the third quarter and first nine months
of its
fiscal year ending June 30, 2006:
| |
Three
Months Ended |
Nine
Months Ended |
| |
03/31/06 |
03/31/05 |
03/31/06 |
03/31/05 |
| |
_______US
Dollars_______ |
_______US
Dollars_______ |
| Total
Revenues |
$3,154,502
|
$ 4,080,602
|
$ 13,182,888
|
$ 7,754,593
|
| Net
Income (Loss) |
$ 32,091
|
$ 22,685
|
$ 781,555
|
$
(323,527)
|
Net
Income (Loss)
Per Share |
$ 0.00
|
$ 0.00
|
$ 0.06
|
$
(0.02)
|
| Weighted
Average Number of Shares Outstanding |
13,372,842 |
13,134,030 |
13,267,406 |
13,134,030 |
Commenting on
the Company’s results, Edward Spink,
TurboSonic’s Chairman and CEO, said, “We have now
completed
five successive profitable quarters and are carrying a backlog of $10.4
million into the fourth quarter of our current fiscal year. Customer
deferral of deliveries caused a delay in revenue recognition in the
third quarter, which is expected to be recognized in the first two
quarters of fiscal 2007. Despite these deferrals, we have achieved a
record level of profitability for the first nine months of the fiscal
year, which is $1.1 million greater than the same period one year
ago.”
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 general economic conditions, interest rates,
government regulations, and 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 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
www.turbosonic.com
|
