January 10, 2001
—
filed under:
Financial News,
FY 2001
TurboSonic Technologies Announces Anticipated Revenues For Six Month Fiscal Period Ended December 31, 2000; Projects Record Revenues and Earnings for 2001 Fiscal Year
TURBOSONIC TECHNOLOGIES, INC. (OTC Bulletin Board – TSTA), a world leader in air pollution control technology, today announced that revenues for the six month fiscal period ended December 31, 2000 would approximate US$3.3 million (CDN$5.0 million). The company further announced that based upon shipments to date, backlog of orders to be shipped in the fiscal year ending June 30, 2001, and anticipated orders, fiscal 2001 revenues should exceed US$12.0 million (CDN$18.4 million), more than double those of fiscal 2000.
Edward Spink, TurboSonic’s Chairman and CEO, stated: "Our investment over the last several years in research, product development, and marketing are now paying off with record sales. We anticipate that our revenues for each of the 3rd and 4th quarters of fiscal 2001 should approximate US$4.4 million (CDN$6.7 million), which, if achieved, can be expected to result in record fiscal year earnings and earnings per share."
Mr. Spink also noted TurboSonic’s intention to enter a strategic alliance with a major international company. The Company has already been in talks with several companies interested in forming such an alliance. A large, international strategic partner with established sales channels can better market TurboSonic’s products on a global basis. The strategic partner selected will benefit from access to TurboSonic’s advanced air pollution control technologies, such as the SonicKleen™ WESP, Turbotak Wet Scrubber, and TurboSOx SO2 Recovery System.
TurboSonic Technologies designs and markets proprietary 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. Industries served include Pulp & Paper, Metals and Mining, Cement, Waste Processing & Incineration, Power Generation and Petrochemicals.
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 worldwide general economic conditions, changes in interest rates, government regulations, and worldwide competition.
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
Edward Spink, TurboSonic’s Chairman and CEO, stated: "Our investment over the last several years in research, product development, and marketing are now paying off with record sales. We anticipate that our revenues for each of the 3rd and 4th quarters of fiscal 2001 should approximate US$4.4 million (CDN$6.7 million), which, if achieved, can be expected to result in record fiscal year earnings and earnings per share."
Mr. Spink also noted TurboSonic’s intention to enter a strategic alliance with a major international company. The Company has already been in talks with several companies interested in forming such an alliance. A large, international strategic partner with established sales channels can better market TurboSonic’s products on a global basis. The strategic partner selected will benefit from access to TurboSonic’s advanced air pollution control technologies, such as the SonicKleen™ WESP, Turbotak Wet Scrubber, and TurboSOx SO2 Recovery System.
TurboSonic Technologies designs and markets proprietary 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. Industries served include Pulp & Paper, Metals and Mining, Cement, Waste Processing & Incineration, Power Generation and Petrochemicals.
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 worldwide general economic conditions, changes in interest rates, government regulations, and worldwide competition.
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
