Omni-Lite Industries Announces Revenues for First Three Quarters of 2010
Omni-Lite Industries Canada Inc.
October 4, 2010
CERRITOS, CALIFORNIA, October 4, 2010 - Omni-Lite Industries Canada Inc. is pleased to announce that revenue for the first three quarters of 2010 was approximately $5,993,000US ($6,173,000 CDN), an increase of 87 percent over the revenue attained in the first three quarters of 2009. Revenue in the third quarter of 2010 was approximately $1,720,000 US ($1,771,000 CDN), an increase of 58 percent over the same period in 2009.
"Highlighting all the activities in the third quarter was the rapid transition of several new programs from the development phase into the production phase," stated Michael K. Walker, VP of R and D. "These rapid transitions enhance our position with each customer. Of particular significance for future revenues, was the recent request to begin planning for a production increase of a key green diesel component to 150 percent of current levels. To meet this and anticipated future demands from this customer, Omni-Lite has completed the engineering and initiated the production of this component on a second large cold forging system."
The complete interim financial statements will be released on approximately October 29, 2010.
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by several Fortune 500 companies including Boeing, Airbus, Alcoa, Ford, Caterpillar, John Deere, Borg Warner, Chrysler, the U.S. Military, Nike, and adidas.
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.
THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE INFORMATION CONTAINED HEREIN.
For further information: Mr. Tim Wang, CFO, Tel. No. (562) 404-8510, or (800) 577-6664 (Canada and USA), Fax. No. (562) 926-6913, email: email@example.com
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