Business
Omni-Lite reports record revenue and net income for first quarter 2007
Omni-Lite reports record revenue and net income for first quarter 2007.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\nOML-TSX VENTURE\n\n\nCERRITOS, CA, June 1 /CNW/ - For the quarter ended March 31, 2007,\nOmni-Lite Industries Canada Inc. is pleased to report record revenue and net\nincome. In this period revenue rose 61% and net income increased by 116%.\nThese results are largely the effect of increased activities in the military\nand aerospace divisions. "By all measures, the first quarter was a very\nsuccessful period for Omni-Lite. The benefits of the significant investments\nmade in plant and equipment, employee training and tooling support are\nstarting to show in the financial performance," stated Paul A. Burkey,\nPresident and COO. "In addition, both the military and aerospace sectors are\nshowing considerable strength in Southern California, a fact that may help to\nprovide growing sales for many years to come."\n\n\nRevenue in first quarter was $1,633,196 ($1,887,811 CDN). This increase\nin revenue reflects a 61% gain over the same period in 2006. Cash flow from\noperations over the same period was $622,731 ($719,815 CDN), up 24%. Net\nincome was $736,100 ($850,858 CDN), an increase of 116% for the period. Gross\nmargins for the period were 74% and net margins were 45%. The following table\nsummarizes these results.\n\n\n Q1 2007 FINANCIAL HIGHLIGHTS (in US $)\n\n-------------------------------------------------------------------------\nWeighted Average For the period For the period\nShares Issued ending ending\nAnd Outstanding: March 31, March 31,\n11,074,684 2007 2006 % Increase\n-------------------------------------------------------------------------\nTotal Revenue $ 1,633,196 $ 1,013,680 61%\n-------------------------------------------------------------------------\nEBITDA $ 979,861 $ 483,008 103%\n-------------------------------------------------------------------------\nCash flow from\n operations(1) $ 622,731 $ 501,212 24%\n-------------------------------------------------------------------------\nNet Income $ 736,100 $ 340,819 116%\n-------------------------------------------------------------------------\nEPS (US) $ 0.07 $ 0.03 133%\n-------------------------------------------------------------------------\nEPS (CDN) $ 0.08 $ 0.04 200%\n-------------------------------------------------------------------------\nAll figures are in US dollars except as noted. (note: at 3/31/07,\n$1US (equal sign) $...