For Immediate Release
Waterloo, Ontario, Canada
November 14, 2006
TurboSonic
Technologies, Inc. (OTC
Bulletin Board – TSTA), a leading
provider of air pollution control technologies, today announced the
following
unaudited operating results for the first three months of its fiscal
year ending June
30,
2007:
|
|
Three
Months Ended
|
|
|
09/30/06
|
09/30/05
|
|
|
US
Dollars
|
|
Total Revenues
|
$
|
3,137,730
|
$
|
3,493,203
|
|
Net Income
|
$
|
(188,171)
|
$
|
152,633
|
|
Net
Income per Share
|
$
|
(0.01)
|
$
|
0.01
|
|
Weighted Average
Number of Shares Outstanding
|
14,575,498
|
13,179,715
|
Commenting
on the Company’s results, Edward Spink,
TurboSonic’s Chairman and CEO, said, “We previously
reported that several major
project deliveries had been delayed by our customers. While we are
disappointed
with the first quarter’s loss, we are pleased to report that
these orders are
now in production, and we are looking forward to a period of major
revenue
recognition for the remainder of fiscal 2007. We are optimistic for our
future
given the current emphasis on climate change, the environment and
health
effects of airborne pollutants, which we believe will increase the
demand for
our products.”
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.
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:
Edward F.
Spink
,
Chairman and CEO
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
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