Business
OMNI-LITE INDUSTRIES ANNOUNCES REVENUE FOR FIRST THREE QUARTERS OF 2010
OMNI-LITE INDUSTRIES ANNOUNCES REVENUE FOR FIRST THREE QUARTERS OF 2010
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\n Oct. 4, 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, Oct. 4 /CNW/ - Omni-Lite Industries Canada Inc. is pleased to announce that revenue for the first three quarters of 2010 was approximately $5,993,000US ($6,173,000 CDN), an increase of 87 percent over the revenue attained in the first three quarters of 2009. Revenue in the third quarter of 2010 was approximately $1,720,000 US ($1,771,000 CDN), an increase of 58 percent over the same period in 2009.\n"Highlighting all the activities in the third quarter was the rapid transition of several new programs from the development phase into the production phase," stated Michael K. Walker, VP of R and D. "These rapid transitions enhance our position with each customer. Of particular significance for future revenues, was the recent request to begin planning for a production increase of a key green diesel component to 150 percent of current levels. To meet this and anticipated future demands from this customer, Omni-Lite has completed the engineering and initiated the production of this component on a second large cold forging system."\nThe complete interim financial statements will be released on approximately October 29, 2010.\n\nOmni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by several Fortune 500 Companies including Boeing, Airbus, Alcoa, Ford, Caterpillar, Borg Warner, Chrysler, the U.S. Military, Nik...