Business
Omni-Lite Industries Reports Second Quarter Results
♦ Revenues Up 30% ♦ Cash Flow from Operations Up 115% ♦ Adjuste...
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n♦ Revenues Up 30%\n♦ Cash Flow from Operations Up 115%\n♦ Adjusted EBITDA(1) Up 107%\n♦ Gross Margin of 58.5%, a 210 Basis Point Increase\n♦ Book-to-Bill of 1.1x\n\nOMNI-LITE INDUSTRIES CANADA INC.\nTSX-VENTURE: OML\n\n\n\nCERRITOS, CA, Sept. 2, 2014 /CNW/ - For the six months ended June 30,\n 2014 Omni-Lite Industries Canada Inc. is pleased to report revenue of\n $3,182,790 US ($3,392,854 CAD) and cash flow from operations(1) of $911,548 US ($971,710 CAD). Over the same period last year, revenue\n and cash flow from operations were up 30 percent and 115 percent\n respectively. Adjusted EBITDA(1) over the six month period was $886,929 US ($945,466 CAD), an increase\n of 107 percent over the prior period. Net income was $305,000 US\n ($325,130 CAD), an increase of 303 percent from the prior period. Gross\n margin increased from 56.4 percent to 58.5 percent over the same period\n last year.\n\n\nSUMMARY OF SIX MONTH FINANCIAL HIGHLIGHTS (US $)\n\n\n\n\n\nBasic Weighted Average Shares\nIssued And Outstanding:\n12,153,302\n\n\nFor the period  \nended June 30, 2014\n\n\nFor the period  \nended June 30, 2013\n\n\n%\nIncrease\n\n\n\n\nRevenue\n\n\n$3,182,790\n\n\n$2,451,253\n\n\n30%\n\n\n\n\nCash flow from operations(1)\n\n\n911,548\n\n\n423,704\n\n\n115%\n\n\n\n\nAdjusted EBITDA(1)\n\n\n886,929\n\n\n427,868\n\n\n107%\n\n\n\n\nNet income\n\n\n305,000\n\n\n75,650\n\n\n303%\n\n\n\n\nEPS (US)\n\n\n$0.03\n\n\n$0.01\n\n\n306%\n\n\n\n\nEPS (CAD)\n\n\n0.03\n\n\n0.01\n\n\n325%\n\n\n\n\n\n\n\n(Note: at 6/30/14, $1US = $1.066 CAD; 6/30/13, $1US = $1.1058 CAD)\n\n\nRevenue in the three month period ended June 30, 2014 was $1,809,465 US\n ($1,928,890 CAD).   Cash flow from operations(1) over the same period was $535,912 US ($571,282 CAD).  Adjusted EBITDA(1) over the period was $531,684 US ($566,775 CAD).  Net income in the\n second quarter was $262,401 US. ($279,719 CAD).  Earnings per share in\n Q2 2014 were $0.02 US ($0.02 CAD), based on the weighted average number\n of shares outstanding of 12,098,547.\n\n\n\n\nSUMMARY OF THREE MONTH FINANCIAL HIGHLIGHTS (US $)\n\n\n\n\n\nWeighted Average Shares Issued\nAnd Outstanding: 12,098,547\n\n\nFor the three months\nended June 30, 2014\n\n\nFor the three months\nended June 30, 2013\n\n\n%\nIncrease\n\n\n\n\nRevenue\n\...