• New bookings of $493,505 US
• Nine month revenues approximately $6,017,000 US
• Third quarter revenues approximately $2,002,000 US
• Production output increases 30% in first nine months
CERRITOS, CA, Oct. 8, 2015 /CNW/ - Omni-Lite Industries Canada Inc. (the "Company") (TSXV:OML) (OTCBB:OLNCF) is pleased to note that it has received new contracts in the amount of $493,505 US. Of these orders, approximately 40% are in the Sports and Recreation division, 37% are in the Aerospace division, and 22% are in the Specialty Automotive division.
"The Company has recently received approval for three new components in the Aerospace division," stated Allen Maxin, President. "The initial production quantities of these components were delivered in the last part of September. These components are part of a new development program by a major Omni-Lite customer and could play a role in the aerospace industry for years to come."
The Company's revenues in the first nine months of fiscal 2015 were approximately $6,017,000 US. This represents an increase of 25% over revenues in the first nine months of 2014. In Canadian dollar terms, at September 30, 2015 exchange rates, this would be approximately $8,047,000 which would be a new high for Canadian dollar revenues in the first nine months of the year. This milestone would exceed the Company's previous Canadian dollar revenue high recorded in 2008 by approximately 27%. Over the same period, the Company's production output increased by approximately 30%. Of particular significance, military sales grew to 28% of total sales in the nine month period.
"The Company is seeing growth in many of its existing programs as customers prepare for 2016," stated Michael Walker, Vice President of Research and Development. "Two automotive customers have notified the Company that increases in production are anticipated after the start of the year."
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures precision components utilized by Fortune 500 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Omni-Lite Industries Canada Inc.
For further information: Mr. Tim Wang, CFO, Tel. No. (562) 404-8510 or (800) 577-6664, Fax. No. (562) 926-6913, email: [email protected], Website: www.omni-lite.com