Omni-Lite announces first quarter revenues|
Omni-Lite Industries Canada Inc.
April 2, 2003
Omni-Lite's revenues for the first quarter 2003 exceeded $630,000 (U.S.) ($927,000 (Canadian) ($1 (U.S.) equals $1.4716 (Canadian)), the second highest first quarter on record. Revenues were split approximately: 31 per cent in the aerospace division, 20 per cent in the military division, 29 per cent in the sports and recreation division, and 20 per cent in the automotive divisions. "Implementation of an increased customer support infrastructure in the past year has resulted in a diversified revenue stream with less dependency on any one sector," stated Allen Maxin, technical sales manager. "With this model, the company anticipates growth in sales even in difficult economic times."
Compared with the first quarter of 2002, sales in the automotive division increased by 538 per cent, aerospace increased by 109 per cent, and sports and recreation increased by 44 per cent. Military sales dropped in relative terms, due to a very large sale booked in first quarter 2002.
The company has seen a small increase in the military contract announced on March 25. This contract was shipped by March 31 within approximately one week of receiving the order. "Omni-Lite's new facility with an expanded equipment line is designed for growth, and will meet the increased needs of current and future customers," stated Paul Burkey, chief operating officer.
The company has not renewed the investor relations contract of Mikel Damke of Northern Capital Partners, which expired on March 31, 2003.
|| Main Page | Investor Info | Profile / Divisions | Online Store | Contact Us | | Follow @OmniLiteInd ||