Welcome!

News Feed Item

Omni-Lite Industries reports results for the third quarter of 2012

OML-TSX VENTURE

CERRITOS, CA, Dec. 11, 2012 /CNW/ - For the nine months ended September 30, 2012 Omni-Lite Industries Canada Inc. is pleased to report revenue of $4,279,595 US ($4,208,340 CAD) and Cash Flow from Operations(1) of $1,044,116 US ($1,026,731 CAD).  Net income was $383,580 US ($377,193 CAD).  Earnings per share in the first nine months of 2012 were $0.03 US ($0.03 CAD), based on the weighted average number of shares outstanding of 12,837,647.

Omni-Lite Industries is also pleased to announce that it has received new orders that include several divisions of the Company. The total value of these new orders is approximately $1,751,368 US. Of these new orders, approximately 47% per cent are in the aerospace specialty division, 29% in the automotive specialty division and 24% in the sports and recreation division.

"Omni-Lite's understanding of the two developments underway for the U.S. Military indicate that very critical requirements, identified subsequent to the initiation of the programs, may not be met on a repeatable basis with the original OD modifications made in 2010 to the equipment at Omni-Lite. As a result, both military developments currently underway are being migrated to the new higher pressure OD PLUS systems recently delivered by our equipment manufacturer. Initial results obtained from the new equipment have been very encouraging and the critical features of these products have been improved significantly," stated Allen W. Maxin, President.

SUMMARY OF NINE MONTH FINANCIAL HIGHLIGHTS (US $)

Basic Weighted Average Shares Issued And Outstanding: 12,837,647 For the period 
ended September 30, 2012
For the period 
ended September 30, 2011
%
Increase
(Decrease)
Revenue $4,279,595 $5,415,617 (21%)
Cash flow from operations(1) 1,044,116 1,815,445 (42%)
Net Income 383,580 962,620 (60%)
EPS (US) 0.03 0.08 (60%)
EPS (CAD) 0.03 0.08 (62%)


(Note: at 09/30/12, $1US = $0.98335 CAD; 09/30/11, $1US = $1.0326 CAD)


Revenue in the three month period ended September 30, 2012 was $1,525,125 US ($1,499,734 CAD).   Cash flow from operations (1)over the same period was $407,355 US ($400,573 CAD).  EBITDA over the period was $388,415 US ($381,947 CAD).  Net income in the third quarter was $140,134 US. ($137,801 CAD).  Earnings per share in Q3 2012 were $0.01 US ($0.01 CAD), based on the weighted average number of shares outstanding of 12,600,623.

SUMMARY OF THREE MONTH FINANCIAL HIGHLIGHTS (US $)

Weighted Average Shares Issued And Outstanding: 12,600,623 For the three months
ended September 30, 2012
For the three months
ended September 30, 2011
%
Increase
(Decrease)
Revenue 1,525,125 1,793,959 (23%)
Cash flow from operations(1) 407,355 414,176 (2%)
Net Income  140,134 143,761 (3%)
EPS (US)     0.011 0.011 -
EPS (CAD) 0.011 0.011 -


(Note: at 09/30/12, $1US = $0.98335 CAD; 09/30/11, $1US = $1.0326 CAD)

Quarterly Information

The following table summarizes the Company's financial performance over the last eight quarters.

ALL FIGURES IN US DOLLARS UNLESS NOTED

  Sep
30/2012
Jun
30/2012
Mar
31/2012
Dec
31/2011
Sep
30/2011
Jun
30/2011
Mar
31/2011
Dec
31/2010
Revenue 1,525,125 1,386,824 1,367,644 1,098,466 1,793,959 2,139,344 1,482,314 1,126,037
Cash Flow from Operations(1) 407,355 313,234 323,527 110,268 414,176 763,456 637,813 523,347
Net Income 140,134 179,903 63,543 996,036 143,761 510,960 307,899 231,268
EPS - basic (US) .011 .014 .005 .076 .011 .039 .026 .017
EPS - basic (CAD) .011 .014 .005 .081 .011 .038 .025 .017
EPS - diluted (US) .011 .014 .005 .074 .011 .038 .026 .016
EPS - diluted (CAD) .011 .014 .005 .079 .011 .037 .025 .016

(1) Cash flow from operations is a non-GAAP 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 write-downs and gains (losses) on sale of assets, if any.


Please see www.sedar.com or contact the Company for complete results.

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, 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.

SOURCE Omni-Lite Industries Canada Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.