Business
Omni-Lite Industries reports results for the third quarter of 2013
OML-TSX VENTURE CERRITOS, CA , Dec. 3, 2013 /CNW/ - For the nine months ended Sep...
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\nOML-TSX VENTURE\n\n\nCERRITOS, CA, Dec. 3, 2013 /CNW/ - For the nine months ended September\n 30, 2013 Omni-Lite Industries Canada Inc. is pleased to report revenue\n of $4,118,283 US ($4,241,461 CAD) and Cash Flow from Operations(1) of $935,806 US ($963,796 CAD). EBITDA over the nine months was $896,155\n US ($922,959 CAD).  Net income was $392,246 US ($403,978 CAD). \n Earnings per share in the first nine months of 2013 were $0.03 US\n ($0.03 CAD), based on the weighted average number of shares outstanding\n of 12,233,203.\n\n\nSUMMARY OF NINE MONTH FINANCIAL HIGHLIGHTS (US $)\n\n\n\n\nBasic Weighted Average Shares \nIssued And Outstanding: \n12,233,203\n\n\nFor the period   \nended September \n30, 2013\n\n\nFor the period   \nended September \n30, 2012\n\n\n%\nIncrease\n(Decrease)\n\n\n\n\n\nRevenue\n\n\n\n\n$4,118,283\n\n\n$4,279,595\n\n\n(4%)\n\n\n\n\nCash flow from operations(1)\n\n\n935,806\n\n\n1,044,116\n\n\n(9%)\n\n\n\n\nNet income \n\n\n392,246\n\n\n383,580\n\n\n2%\n\n\n\n\nEPS (US)\n\n\n0.03\n\n\n0.03\n\n\n7%\n\n\n\n\nEPS (CAD)\n\n\n0.03\n\n\n0.03\n\n\n8%\n\n\n\n\n(Note: at 09/30/13, $1US = $1.02991 CAD; 9/30/12, $1US = $0.98335 CAD\n\n\nRevenue in the three month period ended September 30, 2013 was\n $1,667,030 US ($1,716,891 CAD).   Cash flow from operations(1) over the same period was $512,102 US ($527,419 CAD).  EBITDA over the\n period was $499,613 US ($514,556 CAD).  Net income in the third quarter\n was $316,596 US ($326,065 CAD).  Earnings per share in Q3 2013 were\n $0.03 US ($0.03 CAD), based on the weighted average number of shares\n outstanding of 12,213,128.\n\n\n\"The Company is pleased with the improvement of many of the financial\n metrics achieved in Q3 2013 as compared with Q3 2012. Revenue was up\n approximately 9% from $1,525,127 US ($1,499,734 CAD) to $1,667,030 US\n ($1,716,891 CAD). Equally important Net Income was up 126% year upon\n year and earnings per share were up 133%\", stated David F. Grant, CEO. \n \"In other metrics of importance to a capital intensive company like\n Omni-Lite, cash flow was up 26% quarter to quarter and the gross margin\n improved from 54.8% to 60.4%.\"\n\n\nSUMMARY OF THREE MONTH FINANCIAL HIGHLIGHTS (US $)\n\n\n\n\nWeighted Average Shares \nIssued And Outstanding: \n12,213,128\n\n\nFor the thre...