Message #8 From:
Stock News Bot Date: September 21, 2005 06:42:00 AM
TSTA News TurboSonic Technologies Reports Full Year Operating Results
WATERLOO, Ontario--(BUSINESS WIRE)--Sept. 21, 2005--TURBOSONIC TECHNOLOGIES, INC. (OTCBB: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
06/30/05 06/30/04
US Dollars
Total Revenues $ 11,095,577 $ 4,722,557
Net Income (Loss) $ (227,196) $ (781,607)
Net Income (Loss) per Share $ (0.02) $ (0.06)
Weighted Average Number of
Shares Outstanding(1) 13,134,030 13,134,046
Note 1 - number of shares reflects total after the July 2005 5-for-4
stock split
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 (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, 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.
TurboSonic Technologies Inc. (OTC Bulletin Board:TSTA)
