- Earnings per share up 671%
- Net Income Up 633%
- Cash Flow from Operations Up 40%
- Revenues Up 29%
CERRITOS, CA, April 28, 2015 /CNW/ - For the three months
ended March 31, 2015, Omni-Lite
Industries Canada Inc. (the "Company") (TSXV: OML) is pleased to
report revenue of US$1,773,335, an
increase of 29% over the same period in 2014. In the first
three months of this fiscal year, cash flow from
operations(1) increased to US$525,354, an increase of 40% over last year.
Net income was US$312,313, up
633% over the first quarter in 2014.
Omni-Lite is also pleased to note that it has received new
contracts worth US$680,042. Of
these orders, 54% are in the Specialty Automotive division, 40% are
in the Aerospace division and 6% are in the Sports and Recreation
division. "This brings the total value of the new orders announced
in April 2015 to US$1,443,290," stated Allen W. Maxin, President. "Approximately 49
percent of these orders were from the aerospace industry. This is
consistent with our planned growth strategy in this space."
SUMMARY OF THREE MONTH FINANCIAL HIGHLIGHTS (US $)
Basic Weighted
Average Shares
Issued And
Outstanding: 11,608,101
|
For the three
months period
ended March 31,
2015
|
For the three months
period
ended March 31,
2014
|
%
Increase
|
Revenue
|
$1,773,335
|
$1,373,325
|
29%
|
Cash flow from
operations(1)
|
525,354
|
375,636
|
40%
|
Net income
|
312,313
|
42,599
|
633%
|
EPS (US)
|
0.03
|
0.01
|
671%
|
(Note: at 3/31/15, US$1 =
CAD$1.2642; 3/31/14, US$1 = CAD$1.1058)
(1) Please see 2014 Management
Discussion and Analysis for detailed notes and definitions
In addition to the new seven station cold forging system
arriving in July this year, the Company has purchased five new SK
monitoring systems that enable state of the art control of the
forming process on its complex manufacturing systems. "Our
experience, with the nine SK systems that the Company has been
utilizing for the last three years, is that production efficiencies
increase dramatically and scrap and non-conforming parts are
reduced significantly," stated Michael
Walker, VP of R and D. "These systems will be installed in
the Cerritos facility in May. The
value of these SK systems is in excess of US$125,000."
"In the first three months of the year, the Company's financial
performance continued to trend upward with key metrics such as cash
flow from operations, net income and earnings per share increasing
significantly," stated David F.
Grant, CEO. "The US$2.2
million military contract announced in November 2014 continues to increase the Company's
revenues in tandem with additional developments in the aerospace
and specialty automotive markets."
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, Bombardier, 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.