CERRITOS, CA, April 5 /CNW/ - Omni-Lite Industries Canada Inc. is pleased to announce that revenue for the first quarter of 2010 was approximately $1.83 million US, an increase of 88% over the same period in 2009.
Omni-Lite is also pleased to announce that it has received additional contracts valued at approximately $338,000 in the last three weeks.
"Since receiving customer approval of a new military component in the fourth quarter of 2009, the production team has been improving the manufacturing capabilities. Through the teamwork and diligence of our employees, the Company is now able to deliver significant quantities of this military component," stated Allen Maxin, Vice-President of Operations. "The backlog for this product and others should strengthen the Company's revenues in the second quarter continuing the momentum of the first quarter."
Omni-Lite Industries announced the resignation and retirement of Mr. Paul Schreckengost from the Board of Directors. The management and the Board of Directors would like to Mr. Schreckengost for his many years of service as a board member.
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by 50 companies including Boeing, Airbus, Alcoa, Chrysler, the U.S. Military, Bosch, John Deer, Caterpillar, 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: For further information: Mr. Timothy 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