Omni-Lite third quarter results
Omni-Lite Industries Canada Inc.
Tuesday Jan 26 1999
Management is pleased to announce that revenues in the third quarter ended
September 30, 1998 exceeded C$1,015,000. This represents a 175% increase
from the three month period ended September 30, 1997. Net income for the
period was C$.06/share. Total revenue for the first three quarters of 1998
exceeded C$2,182,000; an increase of 225% from the nine month period of
January to September, 1997. Net income for the period of January to September
1998 exceeded C$.12/share. These results are driven by continuing demand for
the company's automotive, military and recreational product lines.
Omni-Lite has begun to deliver production components utilized in the airbag
systems of General Motors, Ford and Mazda. In initial testing and production,
these components have been shown to be superior in several ways to parts made
utilizing existing technology. As a result, Omni-Lite would expect to obtain a large
portion of the market for these components.
Omni-Lite was selected by Alberta Venture Magazine as the 10th fastest growing
company in Alberta over the 1995 to 1997 period. Over this period, Omni-Lite's
revenues increased 695% and assets increased 800%.
Omni-Lite is a rapidly growing Alberta company that develops and manufactures
precision components utilized by 400 companies including GM, Ford, Mazda,
Chrysler, the U.S. Military, Nike, adidas and Reebok. Omni-Lite's patented
consumer products are available in 140 countries worldwide. The Company
specializes in high technology using advanced composite materials and computer
controlled fabrication techniques.
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:
David F. Grant
President & CEO
Tel. No. (562) 404-8510
Fax. No. (562) 926-6913
E-Mail Address: email@example.com
THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN.