junkHustler
7 years ago
Omni-Lite Industries Announces Voting Results From Annual and Special Meeting of Shareholders and Financial Highlights
Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") is pleased to announce the voting results from its Annual and Special Meeting of Shareholders held February 15, 2018 in Calgary, AB. Based on the approximately 4.0 million common shares voted in connection with the meeting, shareholders voted in favor of all items of business, including the election director nominees, by a substantial majority as follows:
Nominated Roger Dent (99.7%); Charles Samkoff (99.7%); and Patrick Hutchins (99.8%)
Appointment of MNP LLP as auditors (99.9%)
Re-affirmation of the Company's 10% rolling stock option plan (98.9%)
Approval and ratification of changes to the Company’s bylaws (98.6%)
Total bookings for fiscal year 2017 were US$ 6.7 million, yielding a book-to-bill ratio of 1.03 for the fiscal year. The Company’s fiscal 2017 revenues were US$ 6.5 million, compared to US$ 7.2 million in fiscal 2016. The Company continues to allocate its resources toward the higher margin aerospace and military market segments, as these segments represented approximately 60% of revenues in the first half of fiscal 2017 compared to approximately 55% in the year ago period. Additionally, since the beginning of fiscal 2017, the Company has purchased for cancellation of 353,600 common shares of the Company, representing 3.4% of the issued and outstanding shares pursuant to the Normal Course Issuer Bid approved by the TSX Venture Exchange.
The Company is also pleased to announce it has received new contract orders worth in excess of US$ 1.9 million since our last press release on December 1, 2017, including an award from a leading defense contractor for a critical, highly-engineered component for integration into a major U.S. defense small munition system. The order was booked in the latter half of the Company’s fourth quarter of fiscal 2017 and shipments have commenced during our current fiscal quarter.
“This brings the total value of the new orders announced for the last twelve months through January 2018 to approximately US$ 7.8 million, representing at today's exchange rate, approximately CDN$ 9.7 million,” stated Allen W. Maxin, President. “Receiving this new order in support of one of our nation’s major small munition programs underscores the Company’s commitment to delivering complex, high performance components that ensures the success of our valued customer and our military service personnel in an ever-evolving threat environment.”
Of particular importance, the Company recently received from Arconic Fastening Systems (AFS) a perfect supplier score for the 2017 fourth quarter that recognized Omni-Lite’s performance for both quality and delivery. "The continuation of our high supplier ratings achieved from Arconic is a testament to the Company’s unwavering commitment to customer performance and pursuit of deepening relationship with Arconic. This is leading to an increasing share of AFS’ component product requirements for Omni-Lite," stated Joseph Hachadoorian, Vice President of Business Development.
In addition, “the Company has successfully secured 9 new development contracts from a large Aerospace customer within the last 60 days and is currently in production for these new products,” stated Michael Walker, Vice President of R&D. “These products are part of a large family of aerospace components that include up to twenty different variants. The Company continues to focus on this program due to its potential size and contribution to future revenues.”
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, Arconic, Ford, Borg Warner, Chrysler, the U.S. Military, and Nike.
junkHustler
7 years ago
Omni-Lite Industries Reports Third Quarter 2017 Results, New Orders and Updates on Hot Heading Project
Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") (TSXV:OML) (OTCQX:OLNCF) is pleased to announce that it has received new contracts worth over $1,049,962 US. Of these orders, 70% are in the Aerospace Division, 26% are in the Specialty Automotive Division, and 4% are in the Sports and Recreational Division. “This brings the total value of the new orders announced since the start of the year to approximately $5,850,000 US,” stated Allen W. Maxin, President. “At today's exchange rate this would be approximately $7,540,000 CDN.”
In addition to the four new aerospace projects announced in previous press releases, the Company is pleased to announce three additional new aerospace programs. These additional programs are with large current customers. "As the aerospace industry in Southern California continues to evolve, Omni-Lite has recently been approached to undertake several programs in addition to those noted above. The accelerating trend of large integrated tier one aerospace suppliers outsourcing to nimble, high technology companies like Omni-Lite is consistent with the need of our customers to maximize their internal resources to improve their efficiencies," stated Allen W. Maxin, President. “These aerospace industry trends toward outsourcing will play a key role in the Omni-Lite growth strategy for the next several years."
Of particular significance, the Company has been advised by one of its major military customers that upon completion of an important internal review the customer reaffirmed its commitment to continue outsourcing two major product lines currently manufactured by Omni-Lite. It is anticipated that this decision will have a positive contribution toward the Company's military endeavors.
Omni-Lite would also like to update on the progress on the hot heading test center. Since the completion of the system in the early second quarter of 2017, the research and development has focused on one critical, high volume family of components for the aerospace industry. Recent progress indicates that certain components in this family can be successfully manufactured on the hot heading test center. "Of particular significance the Company is seeing additional interest from other customers, for other new programs, as the hot heading development at Omni-Lite accelerates," stated Michael Walker, VP of R and D.
The Company would also like to note that the white reflective roof coating and the large solar system on the rooftop are almost completed. The Company plans to have the solar system operational in the next thirty days, at which time this system should produce 50% to 60% of the Company’s power requirements.
For the nine months ended September 30, 2017, Omni-Lite Industries Canada Inc. is pleased to report revenue of $5,496,097 US. In the first nine months of this fiscal year, cash flow from operations(1) was $1,706,646 US. EBITDA(1) was $1,640,665 US. Net income was $1,135,007 US, up 5% over the prior period. EPS increased 12 percent in Q3 2017 to $0.11 US. "Revenue in the nine months was lower than anticipated, in large part, due to significant procurement delays in customer supplied aerospace feedstock," stated Vern Brown, Manufacturing Manager. "The resolution of these issues should lead to higher production in the factory and faster turnaround to the customer."
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 100 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, John Deere, the U.S. Military and Nike.
For further information, please contact
Mr. David Grant, CEO
Tel. No. (562) 404-8510 or (800) 577-6664
Cell. No. (714) 757-8863
Email: d.grant@omni-lite.com
junkHustler
7 years ago
New Orders and Progress with Hot Forging Capabilities
Omni-Lite Announces Several New Orders in the Aerospace Division and Successful First Production Run From Hot Forging Test Center
~ Two new development contracts in the aerospace division
~ First successful production run for hot forging system
LOS ANGELES, Aug. 01, 2017 (GLOBE NEWSWIRE) -- Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") (TSX-V:OML) (OTCQX:OLNCF) is pleased to announce that the aerospace division of the Company is continuing to grow with two additional development orders. "These orders complement the family of parts mentioned in the two previous press releases. In a review conducted with the customer last week, Omni-Lite was informed that the previous components submitted for assembly and approval had successfully passed all initial tests. It is anticipated that production of these components could begin as early as September of this year," stated Allen Maxin, President. "Given the accelerating growth prospects of the Company, Omni-Lite has hired a Vice-President of Business Development and Sales to quickly extend the Company's outreach. Mr. Joseph Hachadoorian, who has 37 years experience in the aerospace industry, begins on August 7, 2017."
Of particular significance, the Company delivered its first production order from the hot heading test bed in late June. "Given this success, Omni-Lite has committed to the development of two additional hot heading systems," stated Michael Walker, VP of R and D. "The fact that these systems can operate at a wide range of temperatures, on a broad range of materials, bodes well for the future growth of the Company."
Omni-Lite is also pleased to note that it has received new contracts worth $464,951 US. Of these orders 17% are in the Aerospace division, 49% are in the Sports and Recreation division, and 34% are in the Specialty Automotive division. This brings the total value of the new orders announced this year to over $3,734,000 US or $4,645,000 CAD at the exchange rate on July 31, 2017.
The company is pleased to note that revenue in the first six months of the year was approximately $3,479,044 US versus $3,595,132 US in 2016.
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 100 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, John Deere, the U.S. Military and Nike.
For further information, please contact
Mr. David Grant, CEO
Tel. No. (562) 404-8510 or (800) 577-6664
Cell. No. (714) 757-8863
Email: d.grant@omni-lite.com
Website: www.omni-lite.com
junkHustler
7 years ago
Omni-Lite Announces New Orders for Critical Components Utilized in Robotic Assembly of Modern Aircraft and First Production Run From Hot Forging Test Center
~ Development of a new family of aerospace components for a major c ustomer
~ First aerospace production run for hot forging system
Omni-Lite Industries Canada Inc. (TSXV:OML) (OTCQX:OLNCF) (the “Company” or “Omni-Lite”) is pleased to announce that the aerospace division of the Company is continuing to grow with an additional development order announced on May 30, 2017. "This is the second order for this family of components that the company has received in the last three weeks," stated Vern Brown, Manufacturing Manager. "Of particular significance, the company has been notified that it will be receiving orders for several other components in this line over the next month." These components offer critical features for the new robotic assembly systems being developed for all modern aircraft. In another milestone for Omni-Lite, this is the first time the Company has manufactured all the metal subcomponents of a multipart aerospace fastener. With this advancement, the customer will basically be assembling and conducting final quality tests on the completed product. This attests to the strategic influence and presence that the company is gaining in the Aerospace Industry.
The Company is also pleased to announce that several customers are continuing to evaluate the first Ti 6Al-4V component produced on the hot forming test center at Omni-Lite. It is expected that the qualification of these Titanium components will take several months. During this period, the Company has begun the setup of a new aerospace component manufactured from 17-4 stainless steel. It is anticipated that this will be the first hot forging production run on this $900,000 US system.
These products are scheduled to be delivered to the customer next month. "This program will further demonstrate the flexibility built into the test center," stated Michael Walker, VP of R and D. "If things continue as planned the Company could convert several of it's existing cold forging systems to duplicate the hot forging characteristics of the test center."
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 100 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, John Deere, the U.S. Military and Nike.
junkHustler
7 years ago
Omni-Lite Industries Announces Normal Course Issuer Bid
LOS ANGELES, CALIFORNIA--(Marketwired - June 1, 2017) - Omni-Lite Industries Canada Inc. (TSX VENTURE:OML)(OTCQX:OLNCF) ("Omni-Lite" or the "Company") announces that it has submitted to the TSX Venture Exchange ("TSXV") its Notice of Intention to Make a Normal Course Issuer Bid ("Bid"). Pursuant to the Bid, the Company may purchase for cancellation up to 800,000 common shares of the Company which is equal to approximately 7.7 percent of the 10,369,120 issued and outstanding shares.
Echelon Wealth Partners will be conducting the NCIB on behalf of the Company in accordance with the rules of the TSXV. The consideration paid for any such Common Shares will be the open market price at the time of acquisition. The Company will make no purchases of Common Shares other than open market purchases or other such means approved by the TSXV. The actual number of Common Shares of the Company that are purchased for cancellation under the Bid, if any, and the timing of such purchases will be determined by management as approved by the Board of Directors of the Company.
To the knowledge of the Company, no director, senior officer or other insider of Omni-Lite currently intends to sell any Common Shares into this Bid. In the case a director, senior officer, or insider does sell any common shares into the Bid, the benefits to any such person would be the same as the benefits available to all other holders whose shares are purchased. The Company has repurchased and has canceled a total of 790,000 common shares pursuant to the previous normal course issuer bid which ended May 25, 2017. Purchases on the new NCIB may begin on June 1, 2017 and the Bid expires on May 31, 2018.
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.
junkHustler
7 years ago
OMNI-LITE INDUSTRIES CANADA INC. ("OML")
BULLETIN TYPE: Normal Course Issuer Bid
BULLETIN DATE: May 31, 2017
TSX Venture Tier 1 Company
TSX Venture Exchange has been advised by the Company that pursuant to a Notice of Intention to make a Normal Course Issuer Bid dated May 30, 2017. The Company may repurchase for cancellation, up to 800,000 shares in its own capital stock, representing approximately 10% of its Public Float, during the period June 1, 2017 to May 31, 2018. Purchases pursuant to the bid will be made by Echelon Wealth Partners on behalf of the Company.
junkHustler
7 years ago
Love this part:
The company would also like to note that it has been reviewing with it's customers, the significant progress on the aerospace titanium program. "To assist in the development and qualification process leading to the finalization of the engineering specifications required for a production component, the company has hired, as of May 30, 2017, the ex-Director of Engineering from one of our customers," stated Michael Walker, VP of R and D." This should expedite the development cycle as this customer utilizes large quantities of these titanium components annually."
GLTA & JMO
junkHustler
7 years ago
Omni-Lite Industries Reports Strong First Quarter Results
- Q1 revenue up 16%
- Gross Margin up 130 basis points
- Cash flow from operations up 55%
- EBITDA up 70%
- Earnings per share up 135%
LOS ANGELES, CALIFORNIA--(Marketwired - May 30, 2017) - For the three months ended March 31, 2017, Omni-Lite Industries Canada Inc. (TSX VENTURE:OML)(OTCQX:OLNCF) (the "Company") is pleased to report revenue of $1,724,239 US, up 16% from Q1 in 2016. In the first three months of this fiscal year, cash flow from operations (1) was $529,264 US, up 55% over the same period last year. EBITDA (1) was $511,415 US, up 70% over the period. Net income in the first quarter was $368,195 US, up 116% over the 2016 period and earnings per share were $.04 US, up 135% for the three months. "By almost every financial metric the Company performed very well in the first quarter," stated David F Grant, CEO. "Of particular importance the Company's gross margin increased to over 61.3 percent in the first quarter, an increase of approximately 130 basis points from the gross margin attained in the same period of 2016."
Omni-Lite is also pleased to note that it has received new contracts worth US$ 463,514 US. Of these orders 68% are in the Aerospace division, 18% are in the Sports and Recreation division and 14% are in the Specialty Automotive division, "This brings the total value of the new orders announced this year to over $3,270,000 US or $4,404,690 CAD at the exchange rate on May 29, 2017," stated Allen W. Maxin. "The acceleration of the Company's aerospace activities is highlighted by another recent development contract from a major customer. This program could lead to significant revenue in the near future."
The company would also like to note that it has been reviewing with it's customers, the significant progress on the aerospace titanium program. "To assist in the development and qualification process leading to the finalization of the engineering specifications required for a production component, the company has hired, as of May 30, 2017, the ex-Director of Engineering from one of our customers," stated Michael Walker, VP of R and D." This should expedite the development cycle as this customer utilizes large quantities of these titanium components annually."
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.
junkHustler
8 years ago
Omni-Lite Industries Canada Inc. to Present at the 7th Annual LD Micro Invitational
LOS ANGELES, CA / ACCESSWIRE / May 15, 2017 / Omni-Lite Industries Canada Inc. (TSX-V: OML and OTCQX: OLNCF), a world recognized aerospace and military contractor with the core mission of utilizing advanced material science for mission critical applications, today announced that it will be presenting at the 7th annual LD Micro Invitational on Tuesday, June 6th at 11:30 AM PDT / 2:30 PM EDT. David Grant, Founder and CEO of Omni-Lite, will be giving the presentation and meeting with investors.
The Company's Investor and Corporate Presentations can be found on the Omni-Lite website at www.omni-lite.com.
"This year, not only do we have a record number of companies making their LD Micro debuts, but a record number of companies presenting for the first time in their company's history" stated Chris Lahiji, President of LD Micro. "LD has established itself as the one venue that brings the most influential players from all segments of the market under one roof."
The conference will be held at the Luxe Sunset Bel Air Hotel and will feature 180 companies in the small / micro-cap space.
View Omni-Lite's profile here: http://www.ldmicro.com/profile/OLNCF
Profiles powered by LD Micro - News Compliments of Accesswire
About Omni-Lite Industries Canada Inc.
Omni-Lite Industries Canada Inc. is a world recognized research and development Company with the core mission of utilizing material science for mission critical applications. The Company's specialized, precision components are produced utilizing computer-controlled hot and cold forging systems that are networked to provide an optimal environment for engineering enhancements, leading to maximum production efficiencies. These capabilities provide financial benefits such as high industry gross and net margins, and significant cash flow and EBITDA ratios, which allow the Company to execute an ambitious growth strategy. One of the Company's key growth catalysts is the recent development of a specialized process for the production of aerospace titanium components.
junkHustler
8 years ago
Omni-Lite Announces Increasing 2016 Cash from Operations, Significant Shareholder Returns and Achieves Technical Breakthrough in Aerospace Industry
LOS ANGELES, CALIFORNIA--(Marketwired - May 1, 2017) - Omni-Lite Industries Canada Inc. (TSX VENTURE:OML)(OTCQX:OLNCF) (the "Company") is pleased to announce audited annual revenue of US $7,179,808 for the year ending December 31, 2016. In 2016, cash generated from operations increased to US $1,965,273 versus US $1,497,654 in 2015, a gain of 31%. EBITDA increased from US $1,959,409 in 2015 to US $2,056,566 in 2016, representing an increase of 5% and an EBITDA margin expansion of 245 basis points.
In 2016, the Company successfully negotiated two three-year contracts with major tier one aero-space customers. The initial total value of these contracts was approximately US $7.9 mm. These contracts allow additional components to be added at any time during their lifespan. "Sales with one of these customers is up 18% over last year and 32% from two years ago," stated Allen Maxin, President. "The Company still sees significant growth in the aerospace division over the next several years."
In addition, the Company received a number of military contracts in 2016 that continue the important U.S. Department of Defense programs that began in 2014. These are the third set of contiguous orders in this program. These aerospace and military contracts represent a tremendous vote of confidence in Omni-Lite's state-of-the-art engineering and manufacturing facility and point to continued growth in 2017 and beyond as the Company becomes more strategic to its customers.
"To take the Company to the next level of technical achievement, while providing a major catalyst for growth, in 2015 Omni-Lite initiated a program to review the potential of converting an existing cold forming system to operate at elevated temperatures. The US $900,000 test bed developed in this program was intended to evaluate the potential for hot forging aircraft titanium and other super alloys. In April 2017, the Company successfully produced the first complete Ti 6Al-4V fully tubular component using this system. While the use of titanium is attractive due to its light weight and high strength, historically it has been challenging to create precision complex aerospace fasteners without expensive multi-stage operations. Omni-Lite's hot forming system could eliminate many of these secondary operations, significantly reducing the cost and increasing the availability of these critical products. This technical breakthrough may lead to significant revenue opportunities within the aerospace, marine, medical, and sports and recreational markets," stated Michael Walker, VP of R&D. "The Company has begun to interview Business Development candidates to develop and execute a worldwide sales and marketing strategy for this significant new and expanding marketplace."
Financial Highlights
Revenue: For the year ended December 31, 2016, Omni-Lite reported revenue of US $7,179,808.
1. Please see 2016 Management Discussion and Analysis for detailed notes and definition.
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 100 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, John Deere, the U.S. Military and Nike.
junkHustler
8 years ago
Omni-Lite Announces New Military Orders and Progress on Development Program to Produce Aerospace Components From Titanium
LOS ANGELES, CALIFORNIA--(Marketwired - April 11, 2017) - Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") (TSX VENTURE:OML)(OTCQX:OLNCF) is pleased to announce new sales orders of over $1,802,000 US. Of these orders, 57% are in the Military division, 26% are in the Aerospace division, 11% are in the Specialty Automotive division, and 6% are in the Sports and Recreational division. "The most significant portion of these orders are new military contracts which represent another extension of a program that began in Nov 2014. This is the third set of orders in this program," stated Allen W. Maxin, President. "This brings the total value of the new orders announced this year to approximately $2,806,550 US or $3,744,000 CDN at the conversion rate of April 10, 2017."
The company is also pleased to announce that revenues in the first quarter were approximately $1,713,000 US, an increase of 16% from revenues in the first quarter of 2016. As of today, the company's backlog stands at approximately $9,000,000 US and the book to bill ratio YTD is over 1.5.
"The Company is continuing its significant investment in converting one of its cold forging systems to support the hot heading of titanium and other super alloys. The company produced its first partial component from 6-4 aerospace titanium on April 4, 2017," stated Mike Walker, VP of R and D. "This is a critical step in providing higher valued components to this new and expanding marketplace."
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 100 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, John Deere, the U.S. Military and Nike.
junkHustler
8 years ago
Omni-Lite Announces New Orders and Progress on Conversion of Forging System to Operate at Elevated Temperatures
LOS ANGELES, CALIFORNIA--(Marketwired - Feb. 6, 2017) - Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") (TSX VENTURE:OML)(OTCQX:OLNCF) is pleased to announce new sales orders of $1,004,550 US. Of these orders 54% are in the Aerospace division, 41% are in the Specialty Automotive division, and 5% are in the Sports and Recreational division. "Particularly important, are the large aerospace and automotive orders and positive market indications that the company has been receiving," stated Allen W. Maxin, President. "In addition, revenues in the first quarter will be positively impacted as deliveries on the military contract announced last year have restarted as of the first of the year."
"The Company is continuing the significant investment to modify one it's 35 progressive cold forging systems to operate at elevated temperatures. It is anticipated that the first tests of this system on aerospace titanium will begin approximately March 15, 2017. To complete the system as designed, the company is waiting for a custom build control system to arrive from Germany," stated Mike Walker, VP of R and D. "This unique monitoring system will allow the precision control of temperatures and strain during the forming process, a critical step in providing the highest quality components to this new and expanding marketplace."
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 100 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, John Deere, the U.S. Military and Nike.
Read more at http://www.stockhouse.com/companies/bullboard/v.oml/omni-lite-industries-canada-inc?postid=25804405#Di6OzhMVoX1fOa4k.99
junkHustler
8 years ago
Update with Omni-Lite Industries - Discusses Catalysts, Goals and Milestones for First Half of 2017
Tuesday, January 10, 2017
Omni-Lite Industries (TSX-V: OML) (OTCQX: OLNCF) is a high technology company that develops and manufactures mission critical, precision components utilized by Fortune 500 companies including Boeing, Airbus, Bombardier, Embraer, Ford, Borg Warner, Chrysler, the U.S. Military, and Nike, according to the company’s website (see here: www.omni-lite.com).
SNNLive spoke with David Grant, Chairman & CEO of Omni-Lite Industries at the LD Micro “Main Event” 2016 in Bel Air, CA.
In this video interview, Mr. Grant and our host discuss the following topics: - Overview of Omni-Lite Industries - Target markets - Description of the company’s mission critical products - Update since our last interview (click here) - Effects following 2016 presidential election - Mr. Grant’s background - Differentiation between Omni-Lite and the competition - Catalysts, goals and milestones for the first half of 2017
Link: http://stocknewsnow.com/commentary/ANEWSID09012017100005/Video-Update-Omni-Lite-(TSX-V-OML)-(OTCQX-OLNCF
For more information about Omni-Lite Industries, please visit: www.omni-lite.com
junkHustler
8 years ago
Omni-Lite announces new orders and progress on key additional military program
LOS ANGELES, Nov. 30, 2016 /CNW/ - Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") is pleased to announce new sales orders of over $916,000 US. Of these orders, 50% are in the Specialty Automotive division, 45% are in the Aerospace division, and 5% are in the Sports and Recreational division. This brings the total value of the new orders announced in 2016 to over $7.7 million US or approximately $10.4 million CDN, at the exchange rate of November 29, 2016. "Particularly important, the Company has received notice from a large military customer, that a key product developed in a critical program has passed the live fire performance tests required before a contract can be awarded and production can begin," stated Allen W. Maxin, President.
"To open new markets and drive growth well into the future, the company has begun a large scale development program to convert one of its existing multi-station forming machines into a system that operates at elevated temperatures. This will facilitate the forging of the super materials of the future," stated Mike Walker, VP of R and D. "This market is growing quickly as modern aircraft, automobiles, and other transportation systems demand lighter and stronger components in their design."
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 100 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, John Deere, the U.S. Military and Nike.
junkHustler
8 years ago
Omni-Lite Industries Reports Strong Third Quarter
Q3 Cash Flow Up 44%
Q3 Adjusted EBITDA(1) Up 30%
Q3 Earnings per share Up 48%
CERRITOS, CA, Oct. 20, 2016 /CNW/ - For the nine months ended September 30, 2016 Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") is pleased to report revenue of $5,768,520 US and cash flow from operations(1) of $1,855,315 US. In the first nine months of 2016, gross margin increased to 61.4 percent from 59.8 percent in the same period last year.
The Company is pleased to report that gross margins improved to 66.8% in Q3. This is a 610 basis point increase from the gross margin in the prior period. "The Company produced over 32 million components in Q3, a record for quarterly production at Omni-Lite. This helped drive the Company to almost record production efficiencies," stated Allen Maxin, President.
Under the NCIB, the Company has repurchased a total of 855,100 shares from January 1, 2016 to September 30, 2016.
The Company is pleased to announce that it has initiated the construction of a 172KW solar array on the rooftop of the corporate headquarters in Los Angeles. "This system will produce almost 50% of the power utilized by the California facility," stated David Grant, Chairman and CEO. "Utilizing some of the most efficient equipment available, the Company expects to produce over $5,000,000 US worth of power in the next 30 years. This will significantly reduce our carbon footprint in the years to come."
Quarterly Information
(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. Adjusted EBITDA is a non-GAAP financial measure defined as earnings before interest, taxes, depreciation, amortization, stock-based compensation provision, non-recurring items, gains (losses) on sale of assets, if any. These are non-GAAP financial measures, as defined herein, and should be read in conjunction with GAAP financial measures. These non-GAAP financial measures are not presented as an alternative to GAAP cash flows from operations, as a measure of our liquidity or as an alternative to reported net income as an indicator of our operating performance. The non-GAAP financial measures as used herein may not be comparable to similarly titled measures reported by other companies. We believe the use of Adjusted EBITDA and non-GAAP cash flow from operations along with GAAP financial measures enhances the understanding of our operating results and may be useful to investors in comparing our operating performance with that of other companies and estimating our enterprise value. Adjusted EBITDA is also a useful tool in evaluating the operating results of the Company given the significant variation that can result from, for example, the timing of capital expenditures and the amount of working capital in support of our programs and contracts. We also use Adjusted EBITDA internally to evaluate the operating performance of the Company, to allocate resources and capital, and to evaluate future growth opportunities.
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, John Deere, the U.S. Military and Nike.
junkHustler
8 years ago
Omni-Lite Announces New Orders Including Additional Military Contract
LOS ANGELES, Sept. 23, 2016 /CNW/ - Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") is pleased to announce new sales orders of over $500,000 US. Of these orders, 33% are in the Specialty Automotive division, 32% are in the Military division, 27% are in the Sports and Recreational division, and 8% are in the Aerospace division. "This brings the total value of the new orders announced in 2016 to over $6.8 million US, or approximately $8.9 million CDN, at the exchange rate of September 22, 2016. Particularly important, the Company has received a new order for one of the components developed for the US Military," stated Allen W. Maxin, President. "This component received an award as one of the top 10 innovations for the US Army in 2010."
The Company is pleased to announce that it will be featured on the Fox Business Network on Saturday September 24, 2016 at 12:00 noon EDT. This TV interview can be found on the Omni-Lite website at www.omni-lite.com. The Company was also featured in the September OTC Markets bulletin. This interview can be found at www.otcmarkets.com/news/newsletter and on the Omni-Lite website.
The Company is also pleased to report an updated Investor Presentation on its website at www.omni-lite.com.
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, John Deere, the U.S. Military and Nike
junkHustler
8 years ago
Omni-Lite Announces New Orders
New bookings of $664,320 US
Book-to-bill ratio exceeds 1.2 year to date
Company repurchases approximately 5% of outstanding shares
Updated Research Report
LOS ANGELES, CA, Sept. 7, 2016 /PRNewswire/ - Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") is pleased to announce new sales orders of $664,320 US. Of these orders, 58% are in the Aerospace division, 35% are in the Specialty Automotive division, and 7% are in the Sports and Recreational division. "This brings the total value of the new orders announced in 2016 to over $6.3 million US, or approximately $8.1 million CDN at the exchange rate of September 6, 2016. Equally important, for the year to date, the Company had a book-to-bill ratio in excess of 1.2 on August 31, 2016," stated Allen W. Maxin, President. "We are also expecting to undertake a new first article review with the US military in October. This is a critical step to obtaining a production order for this product."
Omni-Lite is also pleased to report that it has repurchased 529,900 common shares at a weighted average price of approximately $1.64 CDN per share, since the current Normal Course Issuer Bid ("NCIB") was approved by the TSX Venture Exchange on May 25, 2016. "In the last three months, the Company has repurchased almost 5% of the issued and outstanding common shares. Upon cancellation of these shares, the Company will have approximately 10,624,720 shares outstanding," stated Timothy P. Leybold, CFO. "The continued execution of the NCIB program should provide significant value to shareholders, while still allowing the Company to make investments in the engineering and manufacturing infrastructure required for the specialized business of delivering mission critical components to our customers."
The Company also notes that on August 29, 2016, Taglich Brothers, Inc. released an updated Research Report on Omni-Lite. This report can be found on the Company's website or at www.taglichbrothers.com.
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, John Deere, the U.S. Military and Nike.
junkHustler
8 years ago
Omni-Lite Industries announces new three year aerospace contract
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.
junkHustler
8 years ago
Omni-Lite Industries announces new three year aerospace contract
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.
junkHustler
8 years ago
Mr. Tim Leybold Joins Omni-Lite as CFO
LOS ANGELES, Aug. 9, 2016 /PRNewswire/ - Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") is pleased to announce that Mr. Tim Leybold has joined the Omni-Lite team as Chief Financial Officer ("CFO").
"Tim has been involved in various TSX and NASDAQ listed companies in his career as an accomplished CFO. His experience with the financial community and several successful acquisition transactions will be invaluable as Omni-Lite enters its next stage of growth," stated David F. Grant, CEO and Chairman of the Board of Directors.
Most recently Mr. Leybold was CFO of WSODTagging BridgeSymbol="US;TIL" WSODIssue="74684541"Till Capital Ltd/WSODTagging. (NASDAQ: TIL; TSXV: TIL) where he led several acquisition transactions leading to the listing of Till shares on the NASDAQ stock exchange. Tim also served as a Director of Till's operating subsidiaries. Previously he was a CFO with Tatum CFO Partners, and also served as CFO for Port Townsend Paper Corp. and its subsidiary Crown Packaging Ltd., the Port Blakely Companies and RLC Industries. He began his career as a CPA with an international public accounting firm. Mr. Leybold received his Bachelor of Business Administration degree with honors from University of Portland and Masters in Business Administration degree from University of Oregon. Pursuant to Omni-Lite's stock option plan and in accordance with the policies and approval of the TSX Venture Exchange, the Board of Directors has approved a grant of 100,000 stock options to Mr. Leybold. These options vest equally over a period of 3 years and are exercisable on or before August 8, 2021 at an exercise price of $1.65 CDN per common share.
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.
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