|By PR Newswire||
|April 23, 2014 08:32 AM EDT||
CERRITOS, CA, April 23, 2014 /CNW/ - For the year ended December 31, 2013 Omni-Lite Industries Canada Inc. is pleased to announce that revenue was $5,301,035 US ($5,669,086 CAD). In Canadian dollar terms, this is an increase of approximately 6 percent over revenues in 2012. In the 2013 fiscal period, cash flow from operations was $988,936 US ($1,057,598 CAD) versus 1,025,164 US ($1,021,986 CAD) in 2012, an increase of 4 percent in Canadian dollar terms.
"The Company experienced significant growth in both the aerospace and specialty automotive markets in 2013. This growth is continuing into 2014. Further revenue increases will come from the three military programs undertaken in the second quarter of this year," stated David F Grant, CEO. The Company's gross margin grew from approximately 44 percent in 2012 to approximately 55 percent in 2013 due to production efficiencies implemented over the last year. Additional benefits are expected as the Company continues to add key members to the engineering and production teams and completes the integration of six additional progressive cold forging systems into the production facility.
Revenue: For the year ended December 31, 2013, Omni-Lite reported revenue of $5,301,035 US ($5,669,086 CAD).
Sales by division are summarized below:
|Division||Aerospace||Automotive||Sport & Recreation||Military||Commercial|
Net Income: Net income was $137,949 US ($147,527 CAD) versus $210,448 US ($209,796 CAD) in 2012.
Earnings per share: Basic earnings per share were $0.01 ($0.01 CAD) compared to $0.02 ($0.02 CAD) in 2012 based on the weighted average number of shares outstanding of 12,228,094 versus 12,720,976 in 2012. The weighted average number of shares decreased approximately 4 percent over the prior year. The Company repurchased 67,700 shares in 2013 which were subsequently cancelled. The Company has repurchased a total of 926,000 shares over the last two years. The actual numbers of shares outstanding at December 31, 2013 were 12,212,932.
SUMMARY OF FINANCIAL HIGHLIGHTS (US $)
All figures in US dollars unless noted.
Basic Weighted Average
Shares Issued And
For the year
For the year
|Cash flow from operations(1)||988,936||1,025,164||(4%)|
(Note: at 12/31/13, $1US = $1.06943 CAD; 12/31/12, $1US = $0.9969 CAD)
|(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.|
The following table summarizes the Company's financial performance over the last eight quarters. All figures in US dollars unless noted.
ALL FIGURES IN US DOLLARS UNLESS NOTED
|Cash Flow from Operations(1)||53,130||512,102||342,092||81,612||(18,952)||407,355||313,234||323,527|
|Net Income (Loss)||(254,297)||316,596||136,479||(60,829)||(173,132)||140,134||179,903||63,543|
|EPS(loss) - basic (US)||(.021)||.026||.011||(.005)||(.013)||.011||.014||.005|
|EPS(loss) - basic (CAD)||(.022)||.027||.012||(.005)||(.014)||.011||.014||.005|
|EPS(loss) - diluted (US)||(.021)||.026||.011||(.005)||(.014)||.011||.014||.005|
|EPS(loss) - diluted (CAD)||(.022)||.027||.012||(.005)||(.014)||.011||.014||.005|
In the fourth quarter of 2013, revenue was $1,182,752 US ($1,264,870 CAD), an increase of 8 percent over the same period in 2012. Net loss was $254,297 US ($271,953 CAD) versus a loss of $173,132 US in 2012.
For complete results, please visit www.sedar.com or request a copy from the Company.
Omni-Lite Industries Canada Inc. 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.
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Mar. 23, 2017 03:00 AM EDT Reads: 2,865
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Mar. 23, 2017 03:00 AM EDT Reads: 5,291
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Mar. 23, 2017 02:15 AM EDT Reads: 11,078
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
Mar. 23, 2017 02:15 AM EDT Reads: 2,237
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you ...
Mar. 23, 2017 02:00 AM EDT Reads: 3,638
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Mar. 23, 2017 01:15 AM EDT Reads: 3,280
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
Mar. 23, 2017 12:00 AM EDT Reads: 1,147
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Mar. 22, 2017 11:00 PM EDT Reads: 2,924
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Mar. 22, 2017 10:15 PM EDT Reads: 3,242
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
Mar. 22, 2017 10:15 PM EDT Reads: 1,699
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Mar. 22, 2017 10:15 PM EDT Reads: 3,223
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
Mar. 22, 2017 09:30 PM EDT Reads: 2,299
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
Mar. 22, 2017 06:15 PM EDT Reads: 3,930
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...
Mar. 22, 2017 05:45 PM EDT Reads: 1,798
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Mar. 22, 2017 04:30 PM EDT Reads: 824