Omni-Lite Industries earns $170,332 (U.S.) in Q2
Omni-Lite Industries Canada Inc.
September 1, 2009
For the six months ended June 30, 2009, Omni-Lite Industries Canada Inc. had revenue of $2,125,198 (U.S.) ($2,456,729 (Canadian)), cash flow from operations of $790,241 (U.S.) ($913,518 (Canadian)) and EBITDA (earnings before interest, taxes, depreciation and amortization) of $783,072 (U.S.) ($905,231 (Canadian)). Net income was $278,920 ($322,431 (Canadian)).
FINANCIAL HIGHLIGHTS (in U.S. dollars unless otherwise noted) Six months ended Six months ended June 30, 2009 June 30, 2008 Revenue $ 2,125,198 $ 4,019,396 Cash flow from operations (1) 790,240 1,679,773 Net income 278,920 936,837 Earnings per share (EPS) $ 0.03 $ 0.09 EPS (in Canadian dollars) $ 0.03 $ 0.09
Note that at June 30, 2009, $1 (U.S.) was equal to $1.156 (Canadian), at June 30, 2008, $1 (U.S.) was equal to $1.011 (Canadian).
(1) Cash flow from operations is a non-GAAP (generally accepted accounting principles) term requested by the oil and gas investment community that represents net earnings adjusted for non-cash items, including depreciation, depletion and amortization, future income taxes, asset writedowns, and gains (losses) on sale of assets, if any.
Basic earnings per share were three U.S. cents (three Canadian cents), compared with nine U.S. cents (nine Canadian cents) in same period of 2008, based on the weighted average shares outstanding of 10,620,854. In 2009, Omni-Lite did not repurchase common shares through the normal course issuer bid.
Revenue in the three-month period ended June 30, 2009, was $1,151,296 (U.S.) ($1,330,898 (Canadian)). Cash flow over the same period was $322,141 (U.S.) ($372,395 (Canadian)). Net income was $229,239 (U.S.) ($256,000 (Canadian)). Earnings per share in the second quarter of 2009 were two U.S. cents (2.2 Canadian cents), based on the weighted average number of shares outstanding of 10,620,854 in the second quarter of 2009.
FINANCIAL HIGHLIGHTS (in U.S. dollars unless otherwise noted) Three months ended Three months ended June 30, 2009 June 30, 2008 Revenue $ 1,151,296 $ 2,059,929 Cash flow from operations 395,702 796,166 Net income 170,322 417,339 EPS $ 0.016 $ 0.038 EPS (in Canadian dollars) $ 0.019 $ 0.038
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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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