Omni-Lite announces additional large military contract
Omni-Lite Industries Canada Inc.
January 2, 2007
Omni-Lite Industries Canada Inc. has received a follow-on contract in the military division. This contract has a value of approximately $713,000. "The fact that the customer requires these products in the first quarter of 2007 should have a very positive effect on the company's revenue early in 2007," stated Allen Maxin, vice-president of operations support. If completed by the end of the first quarter, this program will bring the total amount of this product delivered in a 12-month time frame to approximately $1,728,000, an increase of 58 per cent from the previous 12-month period. This program, coupled with monthly sales in another military program, will boost the revenue of the military division to approximately $1.97-million for the same 12-month period.
The company has also received a purchase order, from an existing customer, for the tooling design and prototype development of a new product in the speciality automotive division. Submittal of the initial components is expected to be completed in first quarter of 2007. If approval is obtained, full production is expected to begin in the second quarter of 2007. The ultimate value of the production contract is estimated to be $614,000, annually.
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.
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INFORMATION CONTAINED HEREIN.
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