Record first quarter total revenue and cash flow|
Omni-Lite Industries Canada Inc
May 30, 2001
Omni-Lite is pleased to announce record revenue and cash flow for the first quarter of fiscal 2001. Over this period, total revenue increased to $ 498,211 US or approximately $772,227 CDN, an increase of 19% over the same period in 2000. During this time frame, cash flow increased by 23% to $219,477 US or approximately $340,189 CDN. Despite this growth, due to larger non -cash adjustments such as depreciation on equipment and building and future taxes, the company reported net income for the period of $119,864 US ($.01US/share) or approximately $185,789 CDN ($.02CDN/share)." We are pleased that our total revenue and cash flow numbers demonstrated solid increases during the slowest financial period of our fiscal year. Q2 is shaping up to extend this growth" stated Mr. David F. Grant, President and CEO.
All figures are in US dollars except as noted.
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components used by 200 companies including GM, Ford, Mazda, Daimler-Chrysler, the U.S. military, Nike, Adidas and Reebok.
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