Omni-Lite earns $497,683 (U.S.) in Q3
Omni-Lite Industries Canada Inc.
November 27, 2008
Omni-Lite Industries Canada Inc. is releasing record revenue. For the nine months ended Sept. 30, 2008, Omni-Lite Industries Canada reported record revenue of $6,088,126 (all dollar figures in United States-denominated dollars) ($6,320,692 (Canadian)), a 20-per-cent increase over the corresponding period in 2007. Sales in the military division represented 43 per cent of revenue in the nine months. The aerospace division represented 28 per cent of revenue. The sports and recreation division contributed 13 per cent to revenue. The automotive division brought in 12 per cent. The remaining 4 per cent of revenue is from the commercial division.
Revenue in the three month period ended Sept. 30, 2008, was $2,068,730 ($2,147,755 (Canadian)), an increase of 1 per cent. Cash flow over the same period was $884,322 ($918,103 (Canadian)). Net income was $495,683 ($514,618 (Canadian)). Earnings per share in the third quarter of 2008 were five U.S. cents (five Canadian cents) based on the weighted average number of shares outstanding of 10,917,293 in the third quarter of 2008. In 2008, Omni-Lite repurchased 423,200 common shares through the normal-course issuer bid.
SUMMARY OF FINANCIAL HIGHLIGHTS (in United States-denominated dollars) For the three months For the three months ended Sept. 30, 2008 ended Sept. 30, 2007 Revenue $2,068,730 $2,046,733 Cash flow from operations $884,322 $830,059 Net income $495,683 $706,023 Earnings per share (U.S.) $0.05 $0.06 Note: On Sept. 30, 2008, $1 (U.S.) was equal to $1.0382 (Canadian). On Sept. 30, 2007, $1 (U.S.) was equal to 99.29 Canadian cents.
In the three-month period ended Sept. 30, 2007, the military division accounted for 39 per cent of revenue. The aerospace division represented 27 per cent of sales. The sports and recreation division reported 18 per cent of revenue and the automotive division reported a 12-per-cent contribution. Commercial activities accounted for 4 per cent of revenue.
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.
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