OMNI-LITE INDUSTRIES ANNOUNCES REVENUE FOR FIRST THREE QUARTERS OF 2010
October 04 2010 - 8:30AM
PR Newswire (Canada)
CERRITOS, CA, Oct. 4 /CNW/ -- OML - TSX VENTURE CERRITOS, CA, Oct.
4 /CNW/ - Omni-Lite Industries Canada Inc. is pleased to announce
that revenue for the first three quarters of 2010 was approximately
$5,993,000US ($6,173,000 CDN), an increase of 87 percent over the
revenue attained in the first three quarters of 2009. Revenue in
the third quarter of 2010 was approximately $1,720,000 US
($1,771,000 CDN), an increase of 58 percent over the same period in
2009. "Highlighting all the activities in the third quarter was the
rapid transition of several new programs from the development phase
into the production phase," stated Michael K. Walker, VP of R and
D. "These rapid transitions enhance our position with each
customer. Of particular significance for future revenues, was the
recent request to begin planning for a production increase of a key
green diesel component to 150 percent of current levels. To meet
this and anticipated future demands from this customer, Omni-Lite
has completed the engineering and initiated the production of this
component on a second large cold forging system." The complete
interim financial statements will be released on approximately
October 29, 2010. Omni-Lite is a rapidly growing high technology
company that develops and manufactures precision components
utilized by several Fortune 500 Companies including Boeing, Airbus,
Alcoa, Ford, Caterpillar, Borg Warner, Chrysler, the U.S. Military,
Nike, and adidas. Except for historical information contained
herein, this document contains forward-looking statements. These
statements contain known and unknown risks and uncertainties that
may cause the company's actual results or outcomes to be materially
different from those anticipated and discussed herein. THE
TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE
INFORMATION CONTAINED HEREIN. Mr. Tim Wang, CFO, Tel. No. (562)
404-8510 or (800) 577-6664 (Canada and USA), Fax. No. (562)
926-6913, email: info@omni-lite.com, Website: www.omni-lite.com
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