Extension of US Military and NATO Contract|
Omni-Lite Industries Canada Inc
November 20, 2000
Omni-Lite is pleased to announce solid financial results for the first nine months of fiscal 2000. Over this period, revenue increased to $1,408,580US, an increase of 14% over the same period in 1999. During the period, cash flow increased to $646,633US, and net income increased to $507,649US.
Omni-Lite has been notified that the US Military has exercised its option to increase the size of the fiscal 2000 contract by approximately 50%. This will require significant increases in shipments starting in December of this year. These shipments will continue throughout fiscal 2001. "The research and development activities that were initiated this year will begin to positively impact the companies revenues in the fourth quarter and should continue well into the future" stated Mr. David F. Grant President and CEO.
FINANCIAL HIGHLIGHTS Three months ended Sept. 30 (in U.S. dollars except where noted) 2000 1999 Revenue $590,650 $634,879 Cash flow from operations 264,365 366,934 Net income $209,198 $330,397 Earnings per share $0.02 $0.03 Earnings per share (Canadian) $0.03 $0.05 FINANCIAL HIGHLIGHTS Nine months ended Sept. 30 (in U.S. dollars except where noted) 2000 1999 Revenue $1,408,580 $1,238,303 Cash flow from operations 646,633 599,402 Net income $ 507,649 $ 492,916 Earnings per share $0.05 $0.05 Earnings per share (Canadian) $0.08 $0.08
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components used by over 200 companies including GM, Ford, Mazda, Daimler-Chrysler, the U.S. Military, Fairchild, Nike, Adidas and Reebok.
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