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February 14, 2007
TurboSonic
Technologies, Inc. (OTC Bulletin Board –
TSTA), a leading provider of air pollution control technologies, today
announced the following unaudited
operating results
for the second quarter and first six months of its fiscal year ending
June 30,
2007:
| |
Three Months Ended |
Six Months Ended |
| |
12/31/06 |
12/31/05 |
12/31/06 |
12/31/05 |
| |
_______US
Dollars_______ |
_______US
Dollars_______ |
| Total
Revenues |
$ 9,589,766
|
$ 6,535,183
|
$
12,727,496
|
$ 10,028,386
|
| Net
Income |
$ 800,284
|
$ 596,831
|
$ 612,113
|
$ 749,464
|
Net
Income
Per Share |
$ 0.05
|
$ 0.05
|
$ 0.04
|
$ 0.06
|
| Weighted
Average Number of Shares Outstanding |
14,635,247
|
13,247,230 |
14,605,208
|
13,213,439 |
Commenting on the Company's
results, Edward Spink,
TurboSonic's Chairman and CEO, said, “We
have just completed the most profitable quarter in our history. We
ended our
second fiscal quarter with an $8.7 million backlog and what we believe
to be an
outstanding level of order prospects. We believe the current emphasis
on
environmental issues will result in continued strengthening of
regulations
globally and impact favorably on TurboSonic. We have positioned
ourselves to
take advantage of this opportunity through our marketing efforts,
extensive
product line, our commitment to R&D and strong customer
relationships.”
TurboSonic Technologies
(www.turbosonic.com) designs and
markets air pollution control technologies to industrial customers
worldwide. Its products help
companies
in the Cement and Mineral Processing, Ethanol, Metals & Mining,
Petrochemicals, Power Generation, Pulp & Paper, Waste
Incineration, and
Wood Products industries comfortably meet the strictest emissions
regulations,
improve performance and reduce operating costs.
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.
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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