Omni-Lite Successes Continue in Third Quarter|
Omni-Lite Industries Canada Inc
Friday Oct 22 1999
Mr. David Grant reports
Omni-Lite has achieved several important milestones in the last quarter. These include the delivery of a second-generation coupling, developed for the U.S. Army and NATO, for first article confirmation. This is a significant development as Omni-Lite is the only approved vendor for this improved product. Omni-Lite has also been successful in the development and delivery of the .223 and .38 caliber head caps for the US Military and other users. The initial deliveries of the inventory control cup for the apparel industry were also completed in the third quarter with large scale deliveries anticipated in the fourth quarter. Nike has increased significantly the orders for a proprietary item for their track and field program with the Omni-Lite factory working approximately 16 hours per day to satisfy the demand. The quarter also saw the completion of several special products developed for the Olympic Games in Sydney, Australia. Financial results for the third quarter will be released in the next three weeks.
The company has made several changes to enable more comprehensive, timely and seamless communication with customers, shareholders, analysts and potential investors. These changes include a state-of-the-art website which will include secure E-Commerce, enhancing Omni-Lite's ability to sell products worldwide on the Internet, autoresponding of press coverage and press releases and an audio message from management that is updated at the start of each month. Registration on the site will automatically trigger the mail-out of the latest investor package. The comprehensive database developed will support virtual real-time communication with shareholders. This site was posted at omni-lite.com on Oct 15.
Coinciding with the website improvements will be an e-mail flash system that will send press information to all investors that have registered with the Omni-Lite Website. A third means of communicating with investors, who do not have access to e-mail, will be through a bulk mail-out to all interested parties.
In October, Omni-Lite made the final payment for the five cold forging systems purchased in 1999 for US $1,000,000. This significant achievement will now allow the company to focus on other initiatives.
For further information, please contact:
David F. Grant
President & CEO
Tel. No. (562) 404-8510
Fax. No. (562) 926-6913
E-Mail Address: firstname.lastname@example.org
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