Omni-Lite reports new orders and strong revenues for first six months
CERRITOS, CA, July 9, 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 $990,416 US. Several of these contracts are for new components ordered by a large aerospace customer. Of these orders, approximately 39% are in the Aerospace division, 34% are in the Sports and Recreation division and 27% are in the Specialty Automotive division.
The Company's revenues in the first six months of fiscal 2015 were approximately $4,014,000 US. This represents an increase of 26% over revenues in the first six months of 2014. Over the same period, the Company's production output increased by approximately 31%. Of particular significance, military sales grew to 30% of total sales in the six month period. Second quarter revenues were approximately $2,240,000 US, a 24% increase from the previous period.
"As the newly announced orders demonstrate, the Company continues to see organic growth in the aerospace division," stated Vern Brown, Manufacturing Manager. "The delivery of three new components to one of our major aerospace customers is the result of an aggressive strategy in this expanding area."
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.
