Business
Omni-Lite reports record revenue, cash flow and net income for second quarter 2006
Omni-Lite reports record revenue, cash flow and net income for second quarter 2006.
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, Aug. 30 /CNW/ - For the quarter ended June 30, 2006,\nOmni-Lite Industries Canada Inc. is pleased to report record revenue, cash\nflow from operations and net income for the first six months of 2006. These\nresults are largely the effect of increased revenue in the Aerospace division.\n\"By all measures, the first six months were a successful period for the\nCompany. The completion of the research and development efforts on the new\nmilitary project and the new automotive contracts recently announced will\nprovide increased revenue growth throughout 2006 and 2007,\" stated Paul A.\nBurkey, President and COO.\nRevenue in first two quarter was $2,344,616 ($2,626,204 CDN). This\nincrease in revenue reflects a 21% gain over the same period in 2005. Cash\nflow from operations over the same period was $1,156,099 ($1,294,947 CDN), up\n28% for the year. Net income was $718,254 ($804,516 CDN), an increase of 5%\nfor the year. Gross margins for the period were 71% and net margins were 31%.\nThe following table summarizes these results.\n\n>\n\nOmni-Lite is a rapidly growing high technology company that develops and\nmanufactures precision components utilized by 100 companies including Boeing,\nAirbus, Alcoa, Daimler-Chrysler, the U.S. Military, Nike, adidas and Reebok.\n\nExcept for historical information contained herein this document contains\nforward-looking statements. These statements contain known and unknown risks\nand uncertainties that may cause the company's actual results or outcomes to\nbe materially different from those anticipated and discussed herein.\n\nTHE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE\nINFORMATION CONTAINED HEREIN.\n\n\n\n","length":6286,"tagName":"div"}]