• 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.