Omni-Lite Industries receives new orders in the Aerospace and Military divisions
Omni-Lite Industries Canada Inc.
February 17, 2009
Omni-Lite Industries Canada Inc. is pleased to announce that it has received several new orders that place special emphasis on the Aerospace and Military divisions of the Company. The total value of these orders is approximately $886,000US ($1,107,000 CDN). Of these new orders, approximately 55% are in the Aerospace division and 34% are in the Military division. These are markets that Omni-Lite has been pursuing in the last several years due to the synergy between the growing capabilities of the Company and the precision engineering needs of these large and recurring markets. "Given the current business climate, management is pleased with the growth opportunities created by the Company," stated Paul Burkey, President and COO. "While the Company has forecast a slight temporary reduction in some of its current programs, the research and development activities undertaken on new projects over the last two years should now begin to add significant growth to the Company's revenue stream."
Omni-Lite Industries Canada Inc. is also pleased to announce that unaudited annual revenue for fiscal 2008 was approximately $7,563,000 US ($9,226,000 CDN). This represents an increase of approximately 8.3% over revenues in 2007. The Company has issued a housing loan to one of its officers and directors. The $164,820 US loan is secured by the value of the property.
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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