Click here to close now.


News Feed Item

Omni-Lite Industries reports audited 2013 results


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.

Financial Highlights

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
2013     41%     38%     18%     2%     1%
2012     37%     33%     24%     4%     2%

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.

All figures in US dollars unless noted.

Basic Weighted Average
Shares Issued And
Outstanding: 12,228,094
For the year
December 31,
For the year
December 31,
Revenue $5,301,035 $5,370,534 (1%)
Cash flow from operations(1) 988,936 1,025,164 (4%)
Net Income 137,949 210,448 (34%)
EPS (US) 0.011 0.017 (32%)
EPS (CAD) 0.012 0.016 (27%)

(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.

Quarterly Information

The following table summarizes the Company's financial performance over the last eight quarters. All figures in US dollars unless noted.


Revenue 1,182,752 1,667,030 1,395,314 1,055,939 1,090,939 1,525,127 1,386,824 1,367,644
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 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.



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
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
The APN DevOps Competency highlights APN Partners who demonstrate deep capabilities delivering continuous integration, continuous delivery, and configuration management. They help customers transform their business to be more efficient and agile by leveraging the AWS platform and DevOps principles.
As-a-service models offer huge opportunities, but also complicate security. It may seem that the easiest way to migrate to a new architectural model is to let others, experts in their field, do the work. This has given rise to many as-a-service models throughout the industry and across the entire technology stack, from software to infrastructure. While this has unlocked huge opportunities to accelerate the deployment of new capabilities or increase economic efficiencies within an organization, i...
In his session at DevOps Summit, Bryan Cantrill, CTO at Joyent, will demonstrate a third path: containers on multi-tenant bare metal that maximizes performance, security, and networking connectivity.
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, will show how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants will get the download information, scripts, and complete en...
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at @DevOpsSummit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, al...
Chris Van Tuin, Chief Technologist for the Western US at Red Hat, has over 20 years of experience in IT and Software. Since joining Red Hat in 2005, he has been architecting solutions for strategic customers and partners with a focus on emerging technologies including IaaS, PaaS, and DevOps. He started his career at Intel in IT and Managed Hosting followed by leadership roles in services and sales engineering at Loudcloud and Linux startups.
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult - let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and li...
Between the compelling mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how busine...
IT data is typically silo'd by the various tools in place. Unifying all the log, metric and event data in one analytics platform stops finger pointing and provides the end-to-end correlation. Logs, metrics and custom event data can be joined to tell the holistic story of your software and operations. For example, users can correlate code deploys to system performance to application error codes.
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...