Omni-Lite Industries Reports Q1 Revenue
Up 30 Percent and Operating Cash Flow Up 360 Percent
Omni-Lite Industries Canada Inc.
CERRITOS, CALIFORNIA, June 4, 2014 – For the three months ended March 31, 2014 Omni-Lite Industries Canada Inc. is pleased to report revenue of $1,373,325 US ($1,518,637 CAD) and cash flow from operations(1) of $375,636 US ($415,382 CAD). Over the same period last year, revenue and cash flow from operations were up 30 percent and 360 percent respectively. Net income was $42,599 US ($47,106 CAD). Gross margin increased from 54 percent to 60 percent over the same period.
SUMMARY OF FINANCIAL HIGHLIGHTS (US $)
All figures in US dollars unless noted.
(Note: at 3/31/14, $1US = $1.1.10581 CAD; 3/31/13, $1US = $1.01707 CAD)
"The improved revenues, gross margins, and cash flows obtained in Q1 are the result of strong growth in the Aerospace and Specialty Automotive divisions," stated David F. Grant, CEO. "The financial benefits of the three military programs recently announced will accrue in the second quarter as these programs are completed."
The following table summarizes the Company’s financial performance over the last eight quarters. All figures in US dollars unless noted.
ALL FIGURES IN US DOLLARS UNLESS NOTED
(1) Cash flow from operations is a non-GAAP 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 write-downs and gains (losses) on sale of assets, if any.
For complete results, please visit www.sedar.com or request a copy from the Company.
Omni-Lite Industries Canada Inc. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: David Grant, CEO, Tel. No. (562) 404-8510 x107, or (800) 577-6664 (Canada and USA), Fax. No. (562) 926-6913, email: firstname.lastname@example.org
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