Welcome!

News Feed Item

Omni-Lite Industries reports audited 2013 results

OML-TSX VENTURE

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.

SUMMARY OF FINANCIAL HIGHLIGHTS (US $)
All figures in US dollars unless noted.

Basic Weighted Average
Shares Issued And
Outstanding: 12,228,094
For the year
 ended
December 31,
2013
For the year
ended
December 31,
2012
%
Increase
(Decrease)
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.

ALL FIGURES IN US DOLLARS UNLESS NOTED

  Dec
31/2013
Sep
30/2013
Jun
30/2013
Mar
31/2013
Dec
31/2012
Sep
30/2012
Jun
30/2012
Mar
31/2012
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 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.

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
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
SYS-CON Events announced today that StarNet Communications 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. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
SYS-CON Events announced today that Adobe has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of co...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
SYS-CON Events announced today that Pulzze Systems 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. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
19th Cloud Expo, taking place November 1-3, 2016, 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 enterpri...
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.
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....