Click here to close now.

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
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
Live Webinar with 451 Research Analyst Peter Christy. Join us on Wednesday July 22, 2015, at 10 am PT / 1 pm ET In a world where users are on the Internet and the applications are in the cloud, how do you maintain your historic SLA with your users? Peter Christy, Research Director, Networks at 451 Research, will discuss this new network paradigm, one in which there is no LAN and no WAN, and discuss what users and network administrators gain and give up when migrating to the agile world of clo...
Agile, which started in the development organization, has gradually expanded into other areas downstream - namely IT and Operations. Teams – then teams of teams – have streamlined processes, improved feedback loops and driven a much faster pace into IT departments which have had profound effects on the entire organization. In his session at DevOps Summit, Anders Wallgren, Chief Technology Officer of Electric Cloud, will discuss how DevOps and Continuous Delivery have emerged to help connect dev...
"We help to transform an organization and their operations and make them more efficient, more agile, and more nimble to move into the cloud or to move between cloud providers and create an agnostic tool set," noted Jeremy Steinert, DevOps Services Practice Lead at WSM International, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and hig...
"AgilData is the next generation of dbShards. It just adds a whole bunch more functionality to improve the developer experience," noted Dan Lynn, CEO of AgilData, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
"We have a tagline - "Power in the API Economy." What that means is everything that is built in applications and connected applications is done through APIs," explained Roberto Medrano, Executive Vice President at Akana, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of...
"What Dyn is able to do with our Internet performance and our Internet intelligence is give companies visibility into what is actually going on in that cloud," noted Corey Hamilton, Product Marketing Manager at Dyn, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
The basic integration architecture, as defined by ESBs, hasn’t changed for more than a decade. Most cloud integration providers still rely on an ESB architecture and their proprietary connectors. As a result, enterprise integration projects suffer from constraints of availability and reliability of these connectors that are not re-usable across other integration vendors. However, the rapid adoption of APIs and almost ubiquitous availability of APIs amongst most SaaS and Cloud applications are ra...
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect t...