- Company Receives $918,959 US in New Orders
- Revenues Increase by 78%
- Improved Production Efficiencies and Higher Volumes Drive 890 Basis Point Increase in Gross Margins
CERRITOS, CA, Feb. 4, 2015 /CNW/ - Omni-Lite Industries Canada Inc. (the "Company") (TSXV: OML) is pleased to note that it has received new contracts in the amount of $918,959 US ($1,152,860 CAD). Of these orders, approximately 57% are in the Aerospace division, 24% are in the Specialty Automotive division and 19% are in the Sports and Recreation division.
"Of particular significance, due to the initiation of a key military program, the Company has been successful in increasing its revenue in January 2015 by 78% over January last year. This has resulted in an increase of gross margin of approximately 890 basis points over the proceeding period," stated Allen W. Maxin, President. "It is expected that these promising metrics will continue as the Company delivers on the military and automotive contracts announced in the last two months. These results also are being buoyed by a steady increase in the Company's aerospace business, as the main airframe manufacturers continue record production."
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by several Fortune 500 Companies including Boeing, Airbus, Alcoa, Ford, Caterpillar, Borg Warner, Chrysler, the U.S. Military, Nike, and adidas.
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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 (Canada and USA), Fax. No. (562) 926-6913, email: email@example.com, Website: www.omni-lite.com