September 21, 2005
TurboSonic Technologies Reports Full Year Operating Results
TURBOSONIC TECHNOLOGIES, INC. (OTC Bulletin Board – TSTA), a leading provider of air pollution control technology, today announced the following audited operating results for its twelve-month fiscal year ending June 30, 2005:
| Twelve Months Ended | ||||
| 6/30/05 | 6/30/04 | |||
| US Dollars | ||||
| Total Revenues | $ | 11,095,577 | $ | 4,722,557 |
| Net (Loss) Income | $ | (227,196) | $ | (781,607) |
| Net (Loss) Income Per Share | $ | (0.02) | $ | (0.06) |
| Weighted Average Number of Shares Outstanding1 | 13,134,030 | 13,134,046 | ||
Commenting on the Company’s results, Edward Spink, TurboSonic Chairman and CEO, said, “Our mission to lead our industry is delivering solid results. Together with strengthened resources to optimize product costs, project management and customer service, our relationships with alliance partners are giving us increased visibility in the US and internationally. We have reduced our loss significantly over our previous fiscal year, and we have almost doubled our previous record backlog, entering the 2006 fiscal year at $10.2 million versus last year’s $5.3 million.”
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 & Mining, Cement, Waste Incineration, Power Generation, Wood Products 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 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:
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
E-mail: info@turbosonic.com
