Omni-Lite reports record revenue for second quarter 2007



    OMNI-LITE INDUSTRIES CANADA INC.
    OML-TSX VENTURE

    CERRITOS, CA, Aug. 30 /CNW/ - For the six months ended June 30, 2007,
Omni-Lite Industries Canada Inc. is pleased to report record revenue and net
income. In this period, revenue rose 30 percent, and net income increased by
20 percent, as compared to that in 2006. These results are largely the effect
of increased activities in the military division. "The first six months of the
year were a strong period of growth for Omni-Lite with earnings of eight cents
per share as compared to nine cents per share for the whole of 2006," stated
Tim Wang, CFO. "The Company has seen significant growth in the Military
division with approximately 36 percent of total sales coming from this area.
This division should continue to see growth in the next year."
    Revenue in first six months was $3,037,035 ($3,217,131 CDN). This
increase in revenue reflects a 30 percent gain over the same period in 2006.
Cash flow over the same period was $947,008 ($1,003,166 CDN). Net income was
$860,274 ($911,288 CDN) or eight cents per share. Gross margins for the period
were 71 percent and net margins were 28 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 six  For the six
    Weighted Average Shares               months       months
     Issued And Outstanding:            ended June   ended June   % Increase
     11,088,611                          30, 2007     30, 2006    (Decrease)
    -------------------------------------------------------------------------
    Revenue                             $3,037,035   $2,344,616          30%
    -------------------------------------------------------------------------
    Cash flow from operations(1)          $947,008   $1,156,099         (18%)
    -------------------------------------------------------------------------
    Net Income                            $860,274     $718,254          20%
    -------------------------------------------------------------------------
    EBITDA                              $1,383,602   $1,026,245          35%
    -------------------------------------------------------------------------
    EPS (US)                                $0.078       $0.068          15%
    -------------------------------------------------------------------------

               All figures are in US dollars except as noted.
              (note: at 6/30/07, $1US = $1.0593 CDN;
                   6/30/06, $1US = $1.1201 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, 2007 was $1,403,839
($1,487,086 CDN). This reflects an increase in revenue of 5% over the same
period in 2006. Cash flow over the same period was $324,277 ($343,507 CDN).
Net income was $124,174 ($131,538 CDN). Earnings per share in Q2 2007 were
$0.01 ($0.01 CDN) compared with $0.04 ($0.04 CDN) in Q2 2006, based on the
weighted average number of shares outstanding of 11,088,611 in Q2 2007, versus
10,485,327 shares outstanding in 2006. This represents an increase of
5.8 percent in the weighted average number of shares outstanding from Q2 2006
to the Q2 2007 fiscal period. In 2007, Omni-Lite repurchased 100,000 common
shares through the Normal Course Issuer Bid.

    
             SUMMARY OF FINANCIAL HIGHLIGHTS (US $) Three Months

    -------------------------------------------------------------------------
                                           For the      For the
    Weighted Average Shares           three months three months
     Issued And Outstanding:            ended June   ended June   % Increase
     11,088,611                           30, 2007     30, 2006    (Decrease)
    -------------------------------------------------------------------------
    Revenue                             $1,403,839   $1,330,936           5%
    -------------------------------------------------------------------------
    Cash flow from operations(1)          $324,277     $654,887         (50%)
    -------------------------------------------------------------------------
    Net Income                            $124,174     $377,435         (67%)
    -------------------------------------------------------------------------
    EPS (US)                                $0.011       $0.036         (69%)
    -------------------------------------------------------------------------

              (note: at 6/30/07, $1US = $1.0593 CDN;
                   6/30/06, $1US = $1.1201 CDN)
    

    The Company has continued to add to its revenue stream. In the three
month period ended June 30, 2007, the Military division accounted for
32 percent of revenue. The Aerospace division represented 25 percent of sales.
The Sports and Recreation division reported 25 percent of revenue and the
Automotive division reported a 14 percent contribution. Commercial activities
accounted for 4 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

    -------------------------------------------------------------------------
                                       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
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
                                       June        Mar        Dec       Sept
                                    30/2006    31/2006    31/2005    30/2005
    -------------------------------------------------------------------------
    Revenue                       1,330,936  1,013,680  1,092,705  1,332,953
    -------------------------------------------------------------------------
    Cash Flow from Operations(1)    654,887    501,212    424,607    634,018
    -------------------------------------------------------------------------
    Net Income                      377,435    340,819    103,027    464,421
    -------------------------------------------------------------------------
    EPS(US)                            .035       .032        .01        .05
    -------------------------------------------------------------------------
    EPS(CDN)                           .040       .037        .01        .05
    -------------------------------------------------------------------------
    

    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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