Business
OMNI-LITE INDUSTRIES ANNOUNCES NEW ORDERS IN THE SPORTS AND RECREATION, AUTOMOTIVE AND AEROSPACE DIVISIONS
OMNI-LITE INDUSTRIES ANNOUNCES NEW ORDERS IN THE SPORTS AND RECREATION, AUTOMOTIVE AND AEROSPACE ...
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\n Sep. 15, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nOML-TSX VENTURE\n\nCERRITOS, CA, Sept. 15 /CNW/ - Omni-Lite Industries Canada Inc. is pleased to announce that it has received several new orders in the Sports and Recreation, Automotive, and Aerospace divisions. The total value of these orders is approximately $682,000 US ($703,000 CDN). Of these new orders, approximately 38 percent are in the Sports and Recreational division, 34 percent are in the Automotive division and 28 percent are in the Aerospace division.\nThese orders are primarily for the Company's legacy product lines. Future revenue growth will be largely influenced by the large development programs undertaken in the last year. To date, the Company has successfully completed three of the four development projects undertaken in the past 12 months. The rapid transition of these three programs into the production phase has lead to rapid growth in the Company's revenue stream in the first two quarters of 2010. "The largest development program ever undertaken by the Company is still underway. Recent technological breakthroughs suggest that the Company could deliver first article specimens to the customer by September 30, 2010," stated Timothy Wang, CFO. "If this development program is successful, the Company expects to complete contract negotiations by December 31, 2010 and be in full scale production of this new product line by early 2011."\n\nOmni-Lite is a rapidly growing high technol...