Business
OMNI-LITE INDUSTRIES REPORTS 2010 RESULTS INCLUDING RECORD NET INCOME
Apr. 25, 2011 (Canada NewsWire Group) -- OMNI-LITE INDUSTRIES CANADA INC. OML - TSX VEN...
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n Apr. 25, 2011 (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\n\nOMNI-LITE INDUSTRIES CANADA INC.\nOML-TSX VENTURE\n\n\nCERRITOS, CA, April 25 /CNW/ - For the year ended December 31, 2010,\n Omni-Lite Industries Canada Inc. is pleased to announce that revenue\n increased 62 percent over fiscal 2009. Total revenue was $7,120,813 US\n over $4,385,485 US reported in 2009. In the 2010 fiscal period, cash\n flow increased to $3,178,800 US, an increase of 196 percent over the\n prior period. Net income increased to $1,818,522 US, a 298 percent\n increase over 2009. Earnings per share increased to $0.18 US per share,\n an increase of 308 percent on a $US basis and 289 percent on a $CDN\n basis. In 2010, gross margins were 69.2 percent, an increase from 66.4\n percent in fiscal 2009.\n\n\n"In 2010, Omni-Lite reported earnings of $0.18 CDN per share, a 28\n percent increase on the record earnings reported in 2007. This strong\n performance lead to the introduction of a dividend in November 2010 and\n ultimately, the raising of $6,923,000 CDN in a private placement in\n February 2011. The Company is now well poised to continue the\n development of the eight new projects that it has underway in the\n Military and Specialty Automotive markets. Many of the Company's new\n products will be utilized in the hybrid and electric vehicles of the\n near future, the advanced braking systems mandated for new vehicles,\n and the many off-road vehicles developed for agricultural and\n infrastructu...