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NEWS RELEASE

OMNI-LITE INDUSTRIES ANNOUNCES
NEW ORDERS AND REVENUES IN Q2

 

 
New bookings of approximately $540,000 US
Sales for Q2 over $2.1 Million US
New program for solar components
Backlog rises 255% from Jan 2016
Book to Bill ratio rises to 1.7 in Q2 from 1.2 last year
 
 

TSXV: OML

OTCQX: OLNCF

LOS ANGELES, July 8, 2016 - Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") is pleased to note that it has received new contracts since May 27, 2016, in the amount of approximately $540,000 US. Of these orders, 58% are in the Specialty Automotive division, 40% are in the Aerospace division, and 2% are in the Sports and Recreational division. This brings the total value of new orders announced since the start of the year to over $5,040,000, US. At the US to CAD currency exchange rate of July 7, 2016, these orders are valued at approximately $6,552,000 CAD.

The Company is pleased to note that revenues in the second quarter exceeded $2,110,000 US. This brings revenue in the first six months of the fiscal year to approximately $3,595,000 US. As forecast earlier in the year, revenues are continuing to build into the latter half of the year, as the military production continues to gain in momentum.

The Company is also pleased to announce that it has received an initial contract for a component developed for the solar industry. This component is utilized in high quantities in the electrical system of popular solar installations. The Company delivered to the customer, the first article for final testing in late June, 2016.

"The Company is fortunate to have a backlog that has grown 255% from January to June 2016. This increased order visibility is also shown in the book to bill ratio increasing to 1.7 from 1.2 this time last year." stated David F. Grant, CEO.

The Company is also pleased to be featured in a SNN( Stock News Now) video where the growth strategy of the company is discussed at the L D Micro conference in Belair, CA, on June 7, 2016. The Company is fortunate to be a growing company in several growing industries. This video interview can also be found on the updated Omni-Lite website at www.omni-lite.com.

Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 500 companies including Boeing, Airbus, Bombardier, Embraer, Ford, Borg Warner, Chrysler, the U.S. Military, and Nike.

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.

 
For further information, please contact: 

 
Mr. David Grant
Founder, Chairman, and CEO
Tel. No.  (714) 757-8863 or (800) 577-6664
Fax. No. (562) 926-6913, email: d.grant@omni-lite.com
 
Website:  www.omni-lite.com
 

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.

 
 
 

 

 

 

 

Proud to be a publicly traded company under the symbols OML in Canada (TSX-V) and OLNCF in the USA (OTCQX)

 
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