300% Annual Growth in First Quarter
Omni-Lite Industries Canada Inc
Thursday Feb 5 1998
February 4, 1998 - Based on rapid growth in sales and income for January 1998, Omni-Lite Industries Canada Inc. projects a growth rate exceeding 300% in the first quarter of 1998. These results are fueled by continuing strength in the company's automotive, military and recreational product lines.
Omni-Lite is pleased to announce that the company finished in the top ten for percentage increase and net gain on The Alberta Stock Exchange for 1997. Omni-Lite was in sixth place in percentage increase with a 379% gain over 1996 and in tenth place in net gain with an increase in share price of $1.82/share over 1996.
Omni-Lite is continuing discussions regarding new products and projects with it's major customers which bodes well for the company's performance over the next 2 to 3 years. The company has started four new projects with existing customers in the month of January, 1998.
Omni-Lite announces that David B. Grant Sr. is retiring from the Board of Directors of Omni-Lite Industries Canada Inc. His significant contribution to the development of Omni-Lite began with the company's inception in 1992.
Omni-Lite is a rapidly growing Alberta company that develops and manufactures precision components for 400 customers including Chrysler, the U.S. Military, Nike, Adidas and Reebok. Omni-Lite's patented consumer products are available in 140 countries worldwide. The Company specializes in high technology using advanced composite materials and computer controlled fabrication techniques.
For further information, please contact:
David F. Grant
President & CEO
Tel. No. (562) 404-8510
Fax. No. (562) 926-6913
E-Mail Address: email@example.com
THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN.