Omni-Lite reports record revenue, cashflow, EBITDA, and net income for first half of fiscal 2008



    OML-TSX VENTURE

    CERRITOS, CA, Aug. 29 /CNW/ - For the six months ended June 30, 2008,
Omni-Lite Industries Canada Inc. is pleased to report record revenue, cash
flow from operations, EBITDA and net income. In this period, revenue rose
32 percent, and net income increased by 9 percent, as compared to that in
2007. These results are largely the effect of increased activities in the
Military and Aerospace divisions.
    Revenue in first six months was $4,019,396 ($4,064,011 CDN). This
increase in revenue reflects a 32 percent gain over the same period in 2007.
Cash flow over the same period was $1,679,773 ($1,698,418 CDN). Net income was
$936,837 ($947,236 CDN) or nine cents per share. Gross margins for the period
were 72 percent and net margins were 23 percent. The following table
summarizes the results of the first six months of the fiscal period.

    
               2007 FINANCIAL HIGHLIGHTS (in US $) Six Months

    -------------------------------------------------------------------------
                                         For the      For the
                                        six months   six months
                                          ended        ended
    Weighted Average Shares Issued       June 30,     June 30,   % Increase
     And Outstanding: 10,905,420           2008         2007      (Decrease)
    -------------------------------------------------------------------------
    Revenue                             $4,019,396   $3,037,035          32%
    -------------------------------------------------------------------------
    Cash flow from operations(1)        $1,679,773     $947,008          77%
    -------------------------------------------------------------------------
    Net Income                             936,837     $860,274           9%
    -------------------------------------------------------------------------
    EBITDA                              $1,902,730   $1,383,602          38%
    -------------------------------------------------------------------------
    EPS (US)                                 $0.09        $0.08          13%
    -------------------------------------------------------------------------

               All figures are in US dollars except as noted.
    (note: at 06/30/08, $1US = $1.0111 CDN; 6/30/07, $1US = $1.0593 CDN)

    (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.
    

    Revenue in the three month period ended June 30, 2008 was $2,059,929
($2,082,794 CDN). This reflects an increase in revenue of 47% over the same
period in 2007. Cash flow over the same period was $796,166 ($805,003 CDN), an
increase of 146%. Net income was $417,339 ($421,971 CDN), an increase of 236%.
Earnings per share in Q2 2008 were $0.038 ($0.038 CDN) compared with $0.011
($0.01 CDN) in Q2 2007, based on the weighted average number of shares
outstanding of 10,905,420 in Q2 2008, versus 11,088,611 shares outstanding in
2007. In 2008, Omni-Lite repurchased 236,100 common shares through the Normal
Course Issuer Bid.

    
             SUMMARY OF FINANCIAL HIGHLIGHTS (US $) Three Months

    -------------------------------------------------------------------------
                                         For the      For the
                                      three months  three months
                                          ended        ended
    Weighted Average Shares Issued       June 30,     June 30,   % Increase
     And Outstanding: 10,905,420           2008         2007      (Decrease)
    -------------------------------------------------------------------------
    Revenue                             $2,059,929   $1,403,839          47%
    -------------------------------------------------------------------------
    Cash flow from operations(1)          $796,166     $324,277         146%
    -------------------------------------------------------------------------
    Net Income                            $417,339     $124,174         236%
    -------------------------------------------------------------------------
    EPS (US)                                $0.038       $0.011         242%
    -------------------------------------------------------------------------

    (note: at 06/30/08, $1US = $1.0111 CDN; 6/30/07, $1US = $1.0593 CDN)
    

    The Company has continued to add to its revenue stream. In the three
month period ended June 30, 2008, the Military division accounted for
41 percent of revenue. The Aerospace division represented 31 percent of sales.
The Sports and Recreation division reported 14 percent of revenue and the
Automotive division reported a 11 percent contribution. Commercial activities
accounted for 3 percent of revenue.

    Quarterly Information

    The following table summarizes the Company's financial performance over
the last eight quarters.

    
    ALL FIGURES IN US DOLLARS UNLESS NOTED

    -------------------------------------------------------------------------
                                  Jun         Mar         Dec         Sept
                                30/2008     31/2008     31/2007     30/2007
    -------------------------------------------------------------------------
    Revenue                    2,059,929   1,959,467   1,900,077   2,046,733
    -------------------------------------------------------------------------
    Cash Flow from
     Operations(1)               796,166     883,657     682,060     830,059
    -------------------------------------------------------------------------
    Net Income                   417,339     519,498      17,073     706,023
    -------------------------------------------------------------------------
    EPS(US)                         .038        .050        .002        .064
    -------------------------------------------------------------------------
    EPS(CDN)                        .038        .050        .002        .063
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
                                 June         Mar         Dec         Sept
                                30/2007     31/2007     31/2006     30/2006
    -------------------------------------------------------------------------
    Revenue                    1,403,839   1,633,196     838,509   1,823,936
    -------------------------------------------------------------------------
    Cash Flow from
     Operations(1)               324,277     622,731    (165,466)    500,283
    -------------------------------------------------------------------------
    Net Income                   124,174     736,100    (150,122)    433,180
    -------------------------------------------------------------------------
    EPS(US)                         .011        .066       (.014)       .040
    -------------------------------------------------------------------------
    EPS(CDN)                        .012        .077       (.016)       .047
    -------------------------------------------------------------------------
    

    Omni-Lite is a rapidly growing high technology company that develops and
manufactures precision components utilized by 100 companies including Boeing,
Airbus, Alcoa, Daimler-Chrysler, the U.S. Military, Nike, adidas and Reebok.

    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:
info@omni-lite.com, Website: www.omni-lite.com

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Omni-Lite Industries Canada Inc.

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