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May 15, 2007
TurboSonic
Technologies, Inc. (OTC Bulletin
Board –
TSTA), a leading provider of air pollution control systems, today
announced the following unaudited
operating results for the
third quarter and first nine months of its fiscal year ending June 30,
2007:
| |
Three Months Ended |
Nine Months Ended |
| |
03/31/07 |
03/31/06 |
03/31/07 |
03/31/06 |
| |
_______US
Dollars_______ |
_______US
Dollars_______ |
| Total
Revenues |
$ 5,989,879
|
$ 3,154,502
|
$
18,717,375
|
$ 13,182,888
|
| Net
Income |
$ 194,976
|
$ 32,091
|
$ 807,089
|
$ 781,555
|
Net
Income
Per Share |
$ 0.01
|
$ 0.00
|
$ 0.05
|
$ 0.06
|
| Weighted
Average Number of Shares Outstanding |
14,906,358
|
13,372,842 |
14,847,593
|
13,267,406 |
Edward Spink, TurboSonic’s Chairman and CEO stated,
“Our
revenues for the first nine months of the current fiscal year have
exceeded our
entire fiscal 2006 revenues. The net income for this same period was
impacted
by market development projects, including sales force expansion, pilot
demonstrations
and product development initiatives, to take advantage of the growth in
international interest for our products. We feel that this investment
is in the
best interests of the shareholders and the Company. With the high
quality of
our current sales prospects and major initiatives we have underway, we
believe
that we are well positioned for future growth.”
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, 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)
For further information, 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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