GAV Galvanic Applied Scs

CALGARY, July 25, 2011 /CNW/ -- CALGARY, July 25, 2011 /CNW/ - Galvanic Applied Sciences Inc. (GAV: TSX-V) announces the following results for its fourth quarter and year ended April 30, 2011: Three months ended April Years Ended April 30 30, 2011 2010 2011 2010 $ $ $ $ Revenue 2,888,690 2,370,385 11,762,134 11,232,294 Gross Margin 1,071,995 833,758 4,731,709 4,413,766 Net earnings 199,839 (157,606) 993,843 (206,194) (loss) Net Earnings (loss) per common $0.01 ($0.01) $0.06 ($0.01) share The turnaround in net earnings from an operating loss to a profit in the fourth quarter of fiscal 2011 and year over year reflects improvements in operating results from both operating segments. In the fourth quarter of the fiscal period consolidated revenues increased by $519,000 or 18%, consolidated gross margins increased to 37% and net earnings increased to $200,000 or $.01 per common share. For the fiscal year ended April 30, 2011, the Company generated earnings after income taxes of $934,000 or $0.06 per common share as compared to a net loss after income taxes of $206,000 or $0.01 per common share. This significant year-over-year improvement reflects a 25% increase in Canadian segment revenues, resulting gross margin growth combined with cost improvements in both operating segments. The Company completed the quarter with working capital of $7,472,000, including cash of $3,382,000, and no debt. "I am pleased with the progress that we made during the fiscal year. Both operating segments performed well. Our focus on profitability, cash generation and cost control helped us generate strong earnings in fiscal 2011" says Helen Cornett, CEO. "Our strong balance sheet combined with the continuing improvement in order backlog levels positions us well for another successful year." Galvanic Applied Sciences Inc. is an innovative electronic technology Company that develops instrumentation and manufactures equipment for the natural gas processing and distribution markets and liquids process markets. Products include analyzers for sulfur and BTU measurement in gases, electronic volume correctors and recorders used in combination with commercial natural gas meters, and tytrators, viscometers, suspended solids and turbidity analyzers for on-line liquid analysis. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release. Forward Looking Statements: This news release contains forward looking statements based on management's current expectations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by Galvanic at the time of preparation, may prove to be incorrect. The forward looking statements contained in this news release are made as at the date of this news release and, except as required by applicable securities laws, Galvanic does not undertake any obligation to update publicly or otherwise any such statements.   To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/25/c7255.html p Helen Cornett, Chief Executive Officer  403-258-9704 /p p Email:  a href="mailto:info@galvanic.com" cr="true"info@galvanic.com/a Website: a href="http://www.galvanic.com" cr="true"www.galvanic.com/a /p

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