Omni-Lite Industries year-end results

Omni-Lite Industries Canada Inc
OML-ASE

Tuesday Jun 8 1999

Mr. David Grant reports
Omni-Lite Industries Canada Incorporated's revenues for the calendar year 1998 exceeded $1,701,000 (U.S.). Net income for the period surpassed eight U.S. cents per share or 12 Canadian cents per share.


             (in U.S. dollars)

                      Seven
                      months
          Year ended  ended    Year ended
          Dec. 31,    Dec. 31,  May 31,
          1998        1997      1997

Revenue   $1,701,395  $613,274  $375,084

Cash flow
from
operations   997,388   246,825   140,370

Net income   801,119   110,115    87,629

Earnings
per share    8 cents    1 cent    1 cent

Of particular note is that in 1998, on a per-employee basis, revenue was approximately $425,000 (U.S.), cash flow was approximately $250,000 (U.S.), and profit was approximately $200,000 (U.S.). This level of profitability per-employee is 20 times to 40 times that of the industry average.

To meet the continuing demand for the company's products, five new $240,000 (U.S.) precision forging systems have been installed, bringing the total number of computer-controlled systems to 10. This completes a $1.5-million (U.S.) expansion of the Omni-Lite plant in Cerritos, Calif. In addition, the company has been reorganized into four divisions specializing in the following product areas: automotive; military; sports and recreation; and commercial.

With the commercial division's winning of its first contract in April, 1999, all of these divisions are now contributing to the company's growth.

The company has entered into an agreement with Ciris International Inc. for the provision of investor-relations services. Ciris International's remuneration will be $4,000 (Canadian) per month.



For further information, please contact:
IN U.S.A.
David F. Grant
President & CEO
Tel. No. (562) 404-8510
Fax. No. (562) 926-6913
E-Mail Address: info@omni-lite.com
Website: www.omni-lite.com


THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN.


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