Omni-Lite Industries Receives New Orders Across All Divisions|
Omni-Lite Industries Canada Inc.
October 14, 2011
CERRITOS, CALIFORNIA, October 14, 2011 - Omni-Lite Industries is pleased to announce that it has received several new orders spread across all divisions of the Company. The total value of the new orders received is approximately $743,500 US. Of these new orders, 44 percent are in the Specialty Automotive division, 26 percent are in the Aerospace division, 18 percent are in the Sports and Recreation division, and 12 percent are in the Military division.
Omni-Lite notes that it has largely completed the development of two of the four components for the EV and Hybrid program undertaken with a leading supplier of Nanocrystalline battery technology in the United States. The Company is waiting for final customer approval before initiating production for these first two products.
"This program is proceeding very well technically and if the customer's forecasts are correct the revenues from this program could be more substantial than initially estimated," stated Allen W. Maxin, President. "The development of the two additional components is expected to be completed in about 30 days and all four components are scheduled to be in production by year end."
The Company is pleased to announce that revenues in the third quarter of 2011 were approximately $1,793,000 US ($1,839,040 CDN).
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by several Fortune 500 companies including Boeing, Airbus, Alcoa, Ford, Caterpillar, Borg Warner, Chrysler, the U.S. Military, Nike, and adidas.
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.
For further information: Mr. Tim Wang, CFO, Tel. No. (562) 404-8510, or (800) 577-6664 (Canada and USA), Fax. No. (562) 926-6913, email: firstname.lastname@example.org
|| Main Page | Investor Info | Profile / Divisions | Online Store | Contact Us | | Follow @OmniLiteInd ||