- up 9% compared to Fiscal 2017
- up 108% compared to fourth quarter fiscal 2017 and up 11%
compared to third quarter fiscal 2018
LOS ANGELES, CALIFORNIA, January 14, 2019 - Omni-Lite Industries Canada, Inc. (the "Company" or "Omni-Lite") is pleased to report an update for the fourth quarter fiscal 2018 and full year fiscal 2018.
Full Year Fiscal 2018 Revenue
Revenue for the full year fiscal 2018 increased 9% to US$7.1 million from US$6.5 million in fiscal
2017. Full year results include approximately US$410,000 from the Monzite division, which was
acquired in late September 2018. Organic revenue growth was approximately 2% on a year-overyear basis, although it was substantially higher in fourth quarter fiscal 2018. Bookings for the full year fiscal 2018 was approximately US$7.6 million, including Monzite bookings subsequent to
the closing of the acquisition in late September 2018.
Fourth Quarter Fiscal 2018 Revenue
Revenue for the fourth quarter fiscal 2018 were US$2.2 million, including approximately
US$370,000 contribution from Monzite, representing an increase of 108% over fourth quarter
fiscal 2017 and an 11% increase compared to the third quarter fiscal 2018. Organic revenue
growth was approximately 73% on a year-over-year basis. Backlog at the end of the fourth
quarter fiscal 2018 was approximately US$2.6 million. Company received a number of new and
follow-on aerospace and defense orders in the quarter aggregating to approximately US$1.8
million. Of particular note was the award of a US$155,000 contract for a high speed electronics
component used on the Euro fighter aircraft platform. This is notable as this represents the first
follow-on order received by the Company on this important and long-standing European
aerospace platform.
Management Comments
In late 2018, David Robbins joined Omni-Lite as CEO and Carl Lueders joined the Company as
CFO. Since that time, the new management team has been reviewing all aspects of the
Company’s operations in order to enhance Omni-Lite’s focus on revenues, efficiency and
profitability.
“We are actively engaging with our aerospace and defense customers and responding to their
increasing requirements. We are excited about delivering on new pre-production, first articles
and initial production quantities of high performance fastener and electronic components for
integration on major US and European commercial and defense airborne platforms. “Against an
expanding aerospace and defense market backdrop, we anticipate these products to mature to
full production requirements over the next several years and have an extended program life
measured over many years,” CEO David Robbins said. “These orders point to our customer’s
need for strategic relationships with capable suppliers like Omni-Lite, and validate our overall
strategy of pursuing major airborne platforms that align with our technologies, manufacturing
processes, and scaled production capabilities,” Robbins continued.
“Since joining Omni-Lite as CEO in early September, the senior management team has been
pursuing a full spectrum of organic and external growth opportunities along with the
implementation of enhancements to the Company’s ERP system that will ultimately lead to a
single, integrated enterprise-wide system for the entire organization. Further, the management
and Board of Directors continue to evaluate priorities on capital allocation and will maintain the
financial flexibility and strength to pursue any anticipated operational, acquisition or other
opportunities that may arise in order to drive long-term value creation,” Robbins concluded.
Investor Conference Call
Omni-Lite will host a conference call and simultaneous webcast for investors on Wednesday,
January 16, 2019, beginning at 5:00 p.m. Eastern Time to introduce the new management team
and present an overview of the Company’s operations including certain highlightsfrom its fourth
quarter fiscal 2018 and full year fiscal 2018 results.
To join the conference call from the USA and Canada, dial (888) 645-4404. For international calls,
dial (862) 298-0702. Please call five to ten minutes prior to the scheduled start time.
A replay of the webcast will be available 48 hours after the call and archived on the Company’s website for 12 months.
Omni-Lite Industries Canada Inc. is an innovative company that develops and manufactures mission critical, precision components utilized by Fortune 100 companies in the aerospace and defense industries.
For further information, please contact:
Mr. David Robbins
President and Chief Executive Officer
Tel. No. (562) 404-8510 or (800) 577-6664
Email: d.robbins@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 forwardlooking 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.
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