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The company recently announced impressive year end results on June 12th: GALVANIC APPLIED SCIENCES INC ("GAV-V") - Financial Results for Year Ended April 30, 2000 Galvanic Applied Sciences Inc., is pleased to announce its results for the year ended April 30, 2000. The company recorded record sales of $5,306,000, a 55% increase, over the $3,416,000 reported in the previous year. Net earnings after income taxes were $633,000 or $.07 per common share, an increase of 45% over the previous year. This is the company's third straight year of 40% plus revenue and earnings growth. Sales growth has been driven by the continued success of the 800 and 900 series tape analyzers, the Western Canadian region. The 800 and 900 series analyzers continue to be the chosen technology of pipeline processors for measuring sulphur at low ppm levels. The company has maintained its position as the leading supplier in Canada with an estimated 95% market share. During the year the company introduced two new products into the market; the Gas Micro designed to correct the volume of gas flows, and the PL-GC, for low cost measurement of natural gas BTU content. Beta site tests to date have proven both products as successful. Customer demand is anticipated to be strong with full commercialization scheduled for the summer of 2000. The Board of Directors is pleased to announce the appointment of Gerald J. Hipple as Chairman of the Board. Mr. Hipple will succeed Doug Fraser, the founding shareholder, who will continue to serve on the Board. Galvanic Applied Sciences Inc. is an innovative instrumentation company that develops and manufactures equipment for the gas processing, petrochemical and refining industry for the measurement of sulphur content in gases and liquids. These measurements are vital for the ongoing attempt to monitor sulphur emissions to the environment. TEL: (403) 252-8470 Byron Larson, President or FAX: (403) 255-6287 Helen Cornett, Chief Financial Officer Galvanic Applied Sciences Inc. E-Mail: info@galvanic.ab.ca Website: www.galvanic.ab.ca | ||||||||||||||
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