Business
Omni-Lite reports record revenue, cash flow and earnings for fiscal 2005 and splits stock
Omni-Lite reports record revenue, cash flow and earnings for fiscal 2005 and splits stock.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\n\nOmni-Lite Industries Canada Inc.\nOML - TSX Venture\n\nCERRITOS, CA, May 1 /CNW/ - For the year ended December 31, 2005,\nOmni-Lite Industries Canada Inc. is pleased to report record revenue, cash\nflow and net income. These results are largely the effect of growth\nexperienced in the Aerospace and Military divisions, areas that the Company\nhas focused on the past several years. \"By all measures, 2005 was a very\nsuccessful year for Omni-Lite. We expect ongoing research and development\nefforts to provide further revenue growth to the Company in the near future,\"\nstated Mr. David F. Grant, President and CEO. \"The area of nanostructured\nmaterials that is the focus of our associated company Omni-Lite E-FORM\nTechnologies Inc. is of particular interest to the Company and our customers.\"\nRevenue in the fiscal 2005 period was $4,360,046 ($5,083,813 CDN), the\nfirst time the Company exceeded the $5,000,000 CDN milestone for revenue. This\nincrease in revenue reflects a 38% gain over 2004. Cash flow over the same\nperiod was $1,961,678 ($2,287,316 CDN) up 65% for the year. Net income was\n$1,249,416 ($1,456,819 CDN), an increase of 63% for the year. Gross margins\nfor the year were 71% and net margins were 29%. The following table summarizes\nthese results.\n\n>\n\nEarnings per share was $0.13 ($0.15 CDN) compared with $0.09 ($0.11 CDN)\nin 2004, based on the weighted average shares outstanding of 9,854,497. In\n2005, Omni-Lite had repurchased 150,000 (2004 - 435,000) common shares through\nthe Normal Course Issuer Bid. 1,971,475 new shares were issued which increased\nthe weighted average number of shares to 9,854,497 from 8,558,412. In 2005, a\ntotal of $301,330 was paid out as a semi-annual dividend to the shareholders.\nThis represented a total dividend of $0.04 CDN per share for shareholders on\nthe published record dates.\nThe Company has continued to diversify its revenue stream. The Aerospace\ndivision now accounts for 35% of revenue. The Military Division represented\n25% of sales. The Sports and Recreation division reported 25% of revenue and\nthe Automotive division reported 12%. Commercial activities accounted for 2%\nof revenue.\n\nQuarterly Information\n\nThe following table summarizes the Company's financial performance over\nthe last eight quarters.\n\nALL FIGURES IN US DOLLARS UNLESS NOTED\n\n>\n\n(1)...