For Immediate Release
Waterloo, Ontario, Canada
September 20, 2006
TurboSonic
Technologies, Inc. (OTC
Bulletin Board – TSTA), a leading
provider of air pollution control technologies, today announced the
following
audited operating results for its twelve-month fiscal year ending June
30,
2006:
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|
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Twelve
Months Ended
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|
|
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06/30/06
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06/30/05
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|
|
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US
Dollars
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|
Total Revenues
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|
$
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16,047,140
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$
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11,095,577
|
|
Net Income (Loss)
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$
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815,850
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$
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(227,196)
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Net Income (Loss)
per Share
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$
|
0.06
|
$
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(0.02)
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Weighted Average
Number of Shares Outstanding
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13,505,474
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13,134,030
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Commenting on the Company’s results,
Edward Spink, TurboSonic Chairman
and CEO, said, “We have seen significant improvement in
fiscal 2006 over the
previous year’s performance. The volume of orders booked and projected to be completed in the current fiscal
year has increased to US$15.3 million as of this release date from
US$10
million as of June 30, 2006. We expect to continue booking additional
orders throughout
the rest of this fiscal year.”
TurboSonic
Technologies
(www.turbosonic.com) 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.
TurboSonic Technologies, Inc. (OTC Bulletin Board:
TSTA - News)
Contact:
TurboSonic Technologies, Inc.
Ed
Spink
,
Chairman and CEO
550 Parkside Drive, Suite A-14, Waterloo, Ontario, Canada N2L 5V4
Phone: (519) 885-5513, Fax: (519) 885-6992
E-mail: info@turbosonic.com
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