OMNI-LITE INDUSTRIES CANADA INC.
CERRITOS, CA, April 3 /CNW/ - Omni-Lite Industries Canada Inc. is pleased
to announce that revenue in the first quarter of 2007 increased approximately
61% over revenue in the first quarter of 2006. Revenue for the period was
approximately $1,636,000 US versus $1,013,680 US in the first quarter of 2006.
This represents a record for revenue in the first quarter. This growth was
primarily from increased deliveries in the military and aerospace divisions.
Deliveries in the military division increased 536% over those in 2006, while
those in the aerospace division increased approximately 34%.
"This significant increase in revenue justifies the many activities
undertaken in the Vision 2010 Growth Plan announced by the Company in late
2005," stated Paul A. Burkey, President and COO. "Without the significant
expenditure on new equipment, increased emphasis on attracting new high
caliber employees, increased internal tooling support and the dedication of
the entire staff at Omni-Lite, the implementation of the Vision 2010 plan
would not be achieved. In addition, the record results in the first quarter
were made possible by the significant efforts, in both product design and
development, that were undertaken in Q3 and Q4 of 2006."
As part of the Vision 2010 plan the Company received two new five die
progressive cold forging systems in March 2007. These machines are worth
approximately $640,000US. These machines are expected to be utilized in the
aerospace division to support one of the Company's long-term customers. The
development of these new products is expected to begin approximately April 15,
2007. The Company expects the delivery of two additional six die progressive
cold forging systems in October of this year.
To provide additional floor space without changing location or renting
additional facilities, the Company has installed approximately 1300 square
feet of structurally reinforced mezzanine. This has the effect of increasing
the manufacturing area by about 7%. The size of the mezzanine can be doubled
in the future should additional area be required. This should allow the
company to remain in the existing facility for the next several years.
Omni-Lite is a rapidly growing high technology company that develops and
manufactures precision components utilized by approximately 100 companies
including Boeing, Airbus, Alcoa, Daimler-Chrysler, the U.S. Military, Nike and
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.
For further information:
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:
email@example.com; Website: www.omni-lite.com