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.

For further information:

Mr. Tim Wang, CFO
Tel. No.  (562) 404-8510 or (800) 577-6664 (Canada and USA)
Fax. No. (562) 926-6913, email: info@omni-lite.com 

Website:  www.omni-lite.com