3rd Quarter Results|
Omni-Lite Industries Canada Inc.
November 20, 2001
CERRITOS, CALIFORNIA. November 20,2001- Omni-Lite is pleased to announce record revenue, cash flow and earnings for the third quarter and first nine months of fiscal 2001. During the third quarter, total revenue increased to $ 979,123 US or approximately $1,544,077 CDN, an increase of 66% over the same period in 2000. During this time frame, cash flow increased by 135% to $622,406 US or approximately $981,845 CDN. The company reported net income for the period of $533,214 US ($.05US/share) or approximately $841,145 CDN ($.08CDN/share), an increase of 154% over the corresponding period of 2000. "While we are pleased with the company's performance during the three quarters, as products developed in the Aerospace Division continue to ship, Omni-Lite should continue a positive growth pattern that extends into 2002" stated Mr. David F. Grant, President and CEO.
In June 2001, the company initiated a normal course issuer bid. By September 30, 2001 the company had repurchased, through Sprott Securities in Toronto, 183,300 shares. These shares were subsequently canceled.
All figures are in US dollars except as noted.
SUMMARY OF FINANCIAL HIGHLIGHTS (US$)
THIRD QUARTER FINANCIAL HIGHLIGHTS (US$)
NINE MONTHS FINANCIAL HIGHLIGHTS (US$)
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