- EPS Increase by 247%
- Net Income Increased by 240%
- Cash Flow from Operations Increased by 28%
- 2014 Bookings in Excess of US$8.1
million, a 15.8% Increase over 2013
CERRITOS, CA, April 23, 2015 /CNW/ - For the year ended
December 31, 2014, Omni-Lite
Industries Canada Inc. (the "Company") (TSXV: OML) is pleased to
announce audited revenue of US$5,850,318, an increase of 10 percent over
revenues in 2013. In the 2014 fiscal period, cash flow from
operations increased to US$1,269,725
versus US$988,936 in 2013, a gain of
28 percent.
"The Company delivered significant improvement in many financial
metrics in 2014. Bookings increased in excess of 15%, which bodes
well for management's expectations for 2015. As a capital
intensive company, cash flow from operations is an important
measure of the Company's success. In 2014, cash flow from
operations in U.S. dollars, increased 28 percent over 2013
results. Net income was up 240 percent and earnings per share
increased 247 percent," stated David F.
Grant, CEO. "In 2015 the Company continues to execute
on its growth plan with new programs in the military, aerospace and
specialty automotive markets. Of particular significance, the
Company ended 2014 debt free with a strong balance
sheet."
Financial Highlights
Revenue: For the year ended December 31, 2014, Omni-Lite reported revenue of
US$5,850,318.
Sales by division are summarized below:
Division
|
Aerospace
|
Specialty
Automotive
|
Sport &
Recreation
|
Military
|
|
2014
|
37%
|
37%
|
18%
|
8%
|
|
2013
|
41%
|
38%
|
18%
|
2%
|
|
|
|
|
|
|
|
Net Income: Net income was US$469,283.
Earnings per share: Basic earnings per share were
US$0.04 compared to US$0.01 in 2013 based on the weighted average
number of shares outstanding of 11,982,866 versus 12,228,094 in
2013. The weighted average number of shares decreased approximately
2 percent over the prior year. As part of an ongoing Normal
Course Issuer Bid, the Company repurchased 575,000 shares in 2014
which were subsequently cancelled. The actual numbers of
shares outstanding at December 31,
2014 were 11,637,932.
SUMMARY OF FINANCIAL HIGHLIGHTS (US $)
All figures in
US dollars unless noted.
Basic Weighted
Average
Shares Issued
And
Outstanding:
11,982,866
|
For the
year ended
December 31,
2014
|
For the
year ended
December 31,
2013
|
%
Increase
(Decrease)
|
Revenue
|
$5,850,318
|
$5,301,035
|
10%
|
Cash flow from
operations(1)
|
1,269,725
|
988,936
|
28%
|
Net Income
|
469,283
|
137,949
|
240%
|
EPS (US)
|
0.04
|
0.01
|
247%
|
(Note: at 12/31/14, US$ 1 =
CAD$ 1.1627; 12/31/13, US$ 1 = CAD$
1.06943)
(1) Please see 2014 Management Discussion and
Analysis for detailed notes and definitions
For complete results, please visit www.sedar.com or request a
copy from the Company.
Omni-Lite Industries Canada Inc. is a rapidly growing high
technology company that develops and manufactures precision
components utilized by Fortune 500 companies including Boeing,
Airbus, Embraer, Alcoa, Ford, 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Omni-Lite Industries Canada Inc.