November 14, 2005
—
filed under:
FY 2006,
Financial News
TurboSonic Inc. Reports First 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 first three months of its fiscal year ending June 30, 2006:
Commenting on the Company’s results, Edward Spink, TurboSonic’s Chairman and CEO, said, “Through successful contract negotiations and project cost reductions, we have completed our third quarter of successive growth in profitability. Our hiring of key additional staff, as part of our strategic planning, has prepared us for an increasing level of new contracts. Improved margins reflected in our backlog of $9.9 million entering our second fiscal quarter, emphasizes the progress we are making.”
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
www.turbosonic.com
| Three Months Ended | ||||
| 09/30/05 | 09/30/04 | |||
| US Dollars | ||||
| Total Revenues | $ | 3,493,203 | $ | 2,447,035 |
| Net Income | $ | 152,633 | $ | 127,256 |
| Net Income Per Share | $ | 0.01 | $ | 0.01 |
| Weighted Average Number of Shares Outstanding | 13,179,715 | 13,134,030 | ||
Commenting on the Company’s results, Edward Spink, TurboSonic’s Chairman and CEO, said, “Through successful contract negotiations and project cost reductions, we have completed our third quarter of successive growth in profitability. Our hiring of key additional staff, as part of our strategic planning, has prepared us for an increasing level of new contracts. Improved margins reflected in our backlog of $9.9 million entering our second fiscal quarter, emphasizes the progress we are making.”
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
www.turbosonic.com
