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NEWS RELEASE

Omni-Lite Industries Reports Strong
First Quarter Results

 

 
Q1 revenue up 16%
Gross Margin up 130 basis points
Cash flow from operations up 55%
EBITDA up 70%
Earnings per share up 135%
 
 

TSXV: OML

OTCQX: OLNCF

LOS ANGELES, CALIFORNIA, MAY 30, 2017 - For the three months ended March 31, 2017, Omni-Lite Industries Canada Inc. (the "Company") is pleased to report revenue of $1,724,239 US, up 16% from Q1 in 2016. In the first three months of this fiscal year, cash flow from operations (1) was $529,264 US, up 55% over the same period last year. EBITDA (1) was $511,415 US, up 70% over the period. Net income in the first quarter was $368,195 US, up 116% over the 2016 period and earnings per share were $.04 US, up 135% for the three months. "By almost every financial metric the Company performed very well in the first quarter," stated David F Grant, CEO. "Of particular importance the Company's gross margin increased to over 61.3 percent in the first quarter, an increase of approximately 130 basis points from the gross margin attained in the same period of 2016."

Omni-Lite is also pleased to note that it has received new contracts worth US$ 463,514 US. Of these orders 68% are in the Aerospace division, 18% are in the Sports and Recreation division and 14% are in the Specialty Automotive division, "This brings the total value of the new orders announced this year to over $3,270,000 US or $4,404,690 CAD at the exchange rate on May 29, 2017," stated Allen W. Maxin. "The acceleration of the Company's aerospace activities is highlighted by another recent development contract from a major customer. This program could lead to significant revenue in the near future."

The company would also like to note that it has been reviewing with it's customers, the significant progress on the aerospace titanium program. "To assist in the development and qualification process leading to the finalization of the engineering specifications required for a production component, the company has hired, as of May 30, 2017, the ex-Director of Engineering from one of our customers," stated Michael Walker, VP of R and D." This should expedite the development cycle as this customer utilizes large quantities of these titanium components annually."
 

SUMMARY OF FINANCIAL HIGHLIGHTS (US $)

All figures in US dollars unless noted.

Basic Weighted Average Shares Issued And Outstanding, March 31, 2017: 10,369,120

For the period   ended March 31, 2017

For the period   ended March 17, 2016

%

Increase

(Decrease)

Revenue

$1,724,239

$1,484,489

16%

Cash flow from operations(1)

529,264

341,800

55%

EBITDA(1)

511,415

300,357

70%

Net Income

368,195

170,220

116%

EPS (US)

0.04

0.02

135%

(1) Please see March 31, 2017 Management Discussion and Analysis for detailed notes and definitions


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 Fortune 500 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, the U.S. Military, Nike, and adidas.
 



 

 
For further information, please contact: 
 

Mr. David Grant  CEO

Tel. No. (562) 404-8510 or (800) 577-6664
Cell No. (562) 926-6913,
Email: d.grant@omni-lite.com
 
Website:  www.omni-lite.com
 
 
 
Reader Advisory
 

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry
partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

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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