Omni-Lite earns $464,421 (U.S.) in Q3

Omni-Lite Industries Canada Inc.
OML-TSX VENTURE

November 18, 2005

Omni-Lite Industries Canada Inc. has posted revenues of $3,267,341 (U.S.) ($3,827,037 (Canadian)), a 34-per-cent increase over the corresponding period in 2004. The aerospace division continues to lead sales at the end of third quarter, representing 34 per cent of revenues, up 90 per cent over the same period in 2004. The growth in the aerospace division reflects the increased demand of Omni-Lite's components by existing and new customers. The sports and recreation division contributed the next highest proportion of revenues at 30 per cent in 2005 compared with 31 per cent in 2004. It was expected that the proportion represented by the sports and recreation division would decrease as the other divisions grew, but the sales in the sports and recreation division grew a surprising 30 per cent over the same nine months in 2004. Sales in the military division represented the next 20 per cent of revenue, also up 23 per cent over the same period in 2004. The automotive division represented 13 per cent of revenues. However, the sales in the automotive division were down 5 per cent, reflecting slower sales in the automotive market. Sales in the commercial division completed the remaining 3 per cent of revenue.

Net income for the nine-month period of 2005 was $1,146,389 (U.S.) ($1,342,765 (Canadian)) or 12 U.S. cents (14 Canadian cents) per common share. This compares with net income of $729,303 (U.S.) or eight U.S. cents per share in the nine-month period of 2004, an increase of 57 per cent.

Earnings per share were calculated using the weighted average shares outstanding of 9,747,582. As of Sept. 30, 2005, there were 10,046,904 shares outstanding.


SUMMARY OF FINANCIAL HIGHLIGHTS 
    (in U.S. dollars)
For the nine months ended Sept. 30

                    2005         2004

Revenue       $3,267,341   $2,443,852

Cash flow 
from 
operations(1) $1,537,071     $912,755

Net income    $1,146,389     $729,303

Earnings 
per share          $0.12        $0.08

EPS (Canadian)     $0.14        $0.11

Note: At Sept. 30, 2005, $1 (U.S.) equalled $1.1713 (Canadian). At Sept. 30, 2004, $1 (U.S.) equalled $1.2699 (Canadian).

(1) Cash flow from operations is a non-GAAP (generally accepted accounting principles) term requested by the oil and gas investment community that represents net earnings adjusted for non-cash items, including depreciation, depletion and amortization, future income taxes, asset writedowns, and gains (losses) on sale of assets, if any.

For the three months ended Sept. 30, 2005, revenue was a new record for Omni-Lite at $1,332,953 (U.S.) ($1,561,288 (Canadian)), an increase of 47 per cent. Net income was $464,421 (U.S.) ($543,976 (Canadian)), an increase of 92 per cent over the same period in 2004. Cash flow from operations increased by 108 per cent over the same period in 2004 to $634,018. The sports and recreation division led sales in third quarter with 41 per cent of the sales. The aerospace division followed with 31 per cent of the sales. The military and automotive divisions contributed 14 per cent and 13 per cent to third quarter revenue, respectively. The commercial division contributed the remaining 1 per cent of sales.


SUMMARY OF FINANCIAL HIGHLIGHTS
     (in U.S. dollars)
 For the three months  ended Sept. 30

                    2005         2004

Revenue       $1,332,953     $906,909

Cash flow 
from 
operations(1)   $634,018     $304,637

Net income      $464,421     $241,974

EPS                $0.05        $0.03

EPS (Canadian)     $0.05        $0.04

Note: At Sept. 30, 2005, $1 (U.S.) equalled $1.1713 (Canadian). At Sept. 30, 2004, $1 (U.S.) equalled $1.2699 (Canadian).

(1) Cash flow from operations is a non-GAAP (generally accepted accounting principles) term requested by the oil and gas investment community that represents net earnings adjusted for non-cash items, including depreciation, depletion and amortization, future income taxes, asset writedowns, and gains (losses) on sale of assets, if any.

"This year the aerospace division has led the growth, as many of the R&D projects completed last year are beginning to add to the revenue stream," stated David F. Grant, chief executive officer. "Further growth will be fuelled by the new contracts received this year."

As of September 30, 2005, the Company has repurchased 10,000 shares under the normal course issuer bid.

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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