Omni-Lite Industries earns $170,332 (U.S.) in Q2
Omni-Lite Industries Canada Inc. OML-TSX VENTURE
September 1, 2009
For the six months ended June 30, 2009, Omni-Lite Industries Canada Inc. had revenue of $2,125,198 (U.S.) ($2,456,729 (Canadian)), cash flow from operations of $790,241 (U.S.) ($913,518 (Canadian)) and EBITDA (earnings before interest, taxes, depreciation and amortization) of $783,072 (U.S.) ($905,231 (Canadian)). Net income was $278,920 ($322,431 (Canadian)).
FINANCIAL HIGHLIGHTS
(in U.S. dollars unless otherwise noted)
Six months ended Six months ended
June 30, 2009 June 30, 2008
Revenue $ 2,125,198 $ 4,019,396
Cash flow from
operations (1) 790,240 1,679,773
Net income 278,920 936,837
Earnings per
share (EPS) $ 0.03 $ 0.09
EPS (in
Canadian
dollars) $ 0.03 $ 0.09
Note that at June 30, 2009, $1 (U.S.) was equal to
$1.156 (Canadian), at June 30, 2008, $1 (U.S.) was
equal to $1.011 (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.
Basic earnings per share were three U.S. cents (three Canadian cents), compared with nine U.S. cents (nine Canadian cents) in same period of 2008, based on the weighted average shares outstanding of 10,620,854. In 2009, Omni-Lite did not repurchase common shares through the normal course issuer bid.
Revenue in the three-month period ended June 30, 2009, was $1,151,296 (U.S.) ($1,330,898 (Canadian)). Cash flow over the same period was $322,141 (U.S.) ($372,395 (Canadian)). Net income was $229,239 (U.S.) ($256,000 (Canadian)). Earnings per share in the second quarter of 2009 were two U.S. cents (2.2 Canadian cents), based on the weighted average number of shares outstanding of 10,620,854 in the second quarter of 2009.
FINANCIAL HIGHLIGHTS
(in U.S. dollars unless otherwise noted)
Three months ended Three months ended
June 30, 2009 June 30, 2008
Revenue $ 1,151,296 $ 2,059,929
Cash flow from
operations 395,702 796,166
Net income 170,322 417,339
EPS $ 0.016 $ 0.038
EPS (in
Canadian
dollars) $ 0.019 $ 0.038
Please see SEDAR or contact the company for complete results.
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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