Wednesday, August 17, 2016 6:51:36 PM
Backlog increases to $11.1 million US
LOS ANGELES, CA, Aug. 12, 2016 /PRNewswire/ - Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") is pleased to announce that it has received a new $4.8 million US, three-year contract from a major aerospace customer. At today's conversion rate this contract would be valued at approximately $6.3 million CDN. Additional value could accrue to this program as the contract can be amended to include new components at any time during the contract term. "This contract increases the Company's current backlog to $11.1 million US," stated Tim Leybold, CFO. "The contract also significantly improves the Company's revenue visibility over the next several years."
"This contract is the second multi-year aerospace contract signed in the last six months and represents a tremendous vote of confidence in the state-of-the-art engineering and manufacturing facility that the Company has built in Southern California. The total of both these contracts is almost $7.9 million US or $10.2 million CDN," stated Allen Maxin, President. "The aerospace industry is expected to show significant growth over the next decade. The Company has made a major long-term effort to be an important contributor in this industry."
We seek Safe Harbor.
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 500 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, the U.S. Military and Nike.
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM
Kona Gold Beverages, Inc. Prepares for First Production Run Set to Launch May 17, 2024 • KGKG • Apr 22, 2024 8:30 AM