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Omni-Lite Industries announces new orders and revenues in Q2
Omni-Lite Industries announces new orders and revenues in Q2 Omni-Lite Industries ...
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\nOmni-Lite Industries announces new orders and revenues in Q2\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\nOmni-Lite Industries announces new orders and revenues in Q2\nCanada NewsWire\nLOS ANGELES, July 8, 2016\n\n\n\n\nNew bookings of approximately $540,000 US \nSales for Q2 over $2.1 Million US \nNew program for solar components \nBacklog rises 255% from Jan 2016 \nBook to Bill ratio rises to 1.7 in Q2 from 1.2 last year\n\nTSXV: OML OTCQX: OLNCF\n\n\n\nLOS  ANGELES, July 8, 2016 /CNW/ - Omni-Lite  Industries  Canada  Inc.  (the \"Company\" or \"Omni-Lite\") is pleased to note that it has received new contracts since May 27, 2016, in the amount of approximately $540,000 US. Of these orders, 58% are in the Specialty Automotive division, 40% are in the Aerospace division, and 2% are in the Sports and Recreational division. This brings the total value of new orders announced since the start of the year to over $5,040,000, US. At the US to CAD currency exchange rate of July 7, 2016, these orders are valued at approximately $6,552,000 CAD.\n\nThe Company is pleased to note that revenues in the second quarter exceeded $2,110,000 US. This brings revenue in the first six months of the fiscal year to approximately $3,595,000 US.   As forecast earlier in the year, revenues are continuing to build into the latter half of the year, as the military production continues to gain in momentum.\n\nThe Company is also pleased to announce that it has received an initial contract for a component developed for the solar industry. This component is utilized in high quantities in the electrical system of popular solar installations. The Company delivered to the customer, the first article for final testing in late June, 2016.\n\n\"The Company is fortunate to have a backlog that has grown 255% from January to June 2016. This increased order visibility is also shown in the book to bill ratio increasing to 1.7 from 1.2 this time last year.\" stated David F. Grant, CEO.\n\nThe Company is also pleased to be f...