Omni-Lite produces $5.06-million of 2005 sales
Omni-Lite Industries Canada Inc.
January 4, 2005
Omni-Lite Industries Canada Inc.'s revenues for the 2005 fiscal year were approximately $4,342,299 (U.S.) ($5,063,207 (Canadian)), an increase of 38 per cent over the same period in 2004.
"In addition to the growth seen in 2005, Omni-Lite has been awarded several new contracts that should add significantly to the company's revenue stream in 2006," stated Paul Burkey, president and chief operating officer. "Of particular importance, the purchase of the new equipment in December, 2005, will help the company to immediately capitalize on the growth expected in the aerospace and military marketplaces."
On Dec. 30, 2005, the company announced it had acquired two new progressive forging systems. The financial commitment in these two machines is part of a larger program entitled "Vision 2010" which was approved by the directors at a board meeting in December, 2005. This program plans to expand the company through the acquisition of up to 16 new progressive forging systems by 2010. The basic tenets of this program include adding equipment, facilities and personnel to support the future growth of Omni-Lite. The impetus for this aggressive program, which would significantly increase the size of the company, is the expected growth in the aerospace, military and speciality automotive markets.
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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