Omni-Lite 2004 Year-end Results
Omni-Lite Industries Canada Inc.
June 3, 2005
For the year ended Dec. 31, 2004, Omni-Lite Industries Canada Inc. has posted revenue of $3,153,655 ($3,799,524 (Canadian)), an increase of 8 per cent. The sports and recreation division represented the largest portion of sales with 30 per cent of revenue, down from 36 per cent in 2003. As the other divisions continue to grow, the amount of revenue becomes less weighted toward sports and recreation, allowing for more balanced revenue streams. Aerospace division sales contributed 28 per cent of the revenue, up from 24 per cent in 2003. The automotive and military divisions provided 14 per cent and 21 per cent of the revenue, respectively. The commercial division contributed the remaining 7 per cent of revenue. All financial amounts are reported in United States dollars unless otherwise indicated.
Net income was $768,297 ($925,644 (Canadian)), compared with $682,404 ($883,440 (Canadian)) in 2003.
Earnings per share were nine cents (11 Canadian cents) compared with seven cents based on the weighted average shares outstanding of 8,558,412. Four hundred thirty-five thousand common shares were repurchased in 2004 through the normal course issuer bid which reduced the actual number of outstanding shares to 8,298,303.
For the year, cash flow from operations increased by 19 per cent to $1,185,472 ($1,428,257 (Canadian)). The increase reflects the increase in revenue and amortization expense which is non-cash.
SUMMARY OF FINANCIAL HIGHLIGHTS Year ended Dec. 31 (in U.S. dollars) 2004 2003 Revenue $ 3,153,655 $ 2,920,744 Cash flow from operations $ 1,185,471 $ 993,392 Net income $ 768,297 $ 682,404 Earnings per share (U.S.) $ 0.09 $ 0.07 Earnings per share (Canadian) $ 0.11 $ 0.09
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.
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