May 13, 2005
—
filed under:
FY 2005,
Financial News
TurboSonic Inc. Reports Third Quarter Operating Results
TURBOSONIC TECHNOLOGIES, INC. (OTC Bulletin Board – TSTA), a leading provider of air pollution control technology, today announced the following unaudited operating results for the third quarter and first nine months for its fiscal year ending June 30, 2005:
Commenting on the Company’s results, Edward Spink, TurboSonic’s Chairman and CEO, said, “We are pleased to report our return to profitability in the third quarter. In addition, we entered the fourth quarter with another record backlog as a result of increased activity in our target markets. Consequently, we anticipate that our revenues for fiscal 2005 will be more than double that of the previous fiscal year. Given the significant impact that foreign exchange rates and increased project costs had upon the third quarter performance, our challenge going forward will be to maintain and improve our level of profitability.”
TurboSonic Technologies 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 Securities and Exchange Commission.
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
wwww.turbosonic.com
| Three Months Ended | Nine Months Ended | |||||||
| 03/31/05 | 03/31/04 | 03/31/05 | 03/31/04 | |||||
| US Dollars | US Dollars | |||||||
| Total Revenues | $ | 4,080,602 | $ | 1,160,703 | $ | 7,754,593 | $ | 3,037,222 |
| Net Income (Loss) | $ | 722,685 | $ | (241,549) | $ | (323,527) | $ | (857,771) |
| Net Income (Loss) Per Share | $ | (0.00) | $ | (0.02) | $ | (0.03) | $ | (0.08) |
| Weighted Average Number of Shares Outstanding | 10,507,220 | 10,507,250 | 10,507,220 | 10,507,250 | ||||
Commenting on the Company’s results, Edward Spink, TurboSonic’s Chairman and CEO, said, “We are pleased to report our return to profitability in the third quarter. In addition, we entered the fourth quarter with another record backlog as a result of increased activity in our target markets. Consequently, we anticipate that our revenues for fiscal 2005 will be more than double that of the previous fiscal year. Given the significant impact that foreign exchange rates and increased project costs had upon the third quarter performance, our challenge going forward will be to maintain and improve our level of profitability.”
TurboSonic Technologies 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 Securities and Exchange Commission.
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
wwww.turbosonic.com
