Business
Omni-Lite annual revenues increase by approximately 38%
Omni-Lite annual revenues increase by approximately 38%.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\n\nOML-TSX VENTURE\n\nCERRITOS, CA, Jan. 4 /CNW/ - The Company is pleased to announce that\nrevenues for the 2005 fiscal year were approximately $4,342,299 US \n($5,063,207 CDN), an increase of 38% over the same period in 2004.\n\"In addition to the growth seen in 2005, Omni-Lite has been awarded\nseveral new contracts that should add significantly to the Company's revenue\nstream in 2006,\" stated Paul Burkey, President and Chief Operating Officer.\n\"Of particular importance, the purchase of the new equipment in December 2005\nwill help the Company to immediately capitalize on the growth expected in the\nAerospace and Military marketplaces.\"\nIn a press release on December 30, 2005, the Company announced it had\nacquired two new progressive forging systems. The financial commitment in\nthese two machines is part of a larger program entitled \"Vision 2010\" which\nwas approved by the directors at a Board meeting in December 2005. This\nprogram plans to expand the Company through the acquisition of up to 16 new\nprogressive forging systems by 2010. The basic tenets of this program include\nadding equipment, facilities and personnel to support the future growth of the\nOmni-Lite. The impetus for this aggressive program, which would significantly\nincrease the size of the Company, is the expected growth in the Aerospace,\nMilitary and Speciality Automotive markets.\n\nOmni-Lite is a rapidly growing high technology company that develops and\nmanufactures precision components utilized by 140 companies including Boeing,\nAirbus, Alcoa, Daimler-Chrysler, the U.S. Military, Nike, adidas and Reebok.\n\nExcept for historical information contained herein this document contains\nforward-looking statements. These statements contain known and unknown risks\nand uncertainties that may cause the company's actual results or outcomes to\nbe materially different from those anticipated and discussed herein.\n\nTHE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE\nINFORMATION CONTAINED HEREIN.\n\n\n\n","length":2066,"tagName":"div"}]