Business
Omni-Lite reports record revenue, cashflow, EBITDA, and net income for first half of fiscal 2008
OML-TSX VENTURE CERRITOS, CA, Aug. 29 /CNW/ - For the six months ended June 30, 2008, Omni-Lite I...
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\nOML-TSX VENTURE\n\n\nCERRITOS, CA, Aug. 29 /CNW/ - For the six months ended June 30, 2008,\nOmni-Lite Industries Canada Inc. is pleased to report record revenue, cash\nflow from operations, EBITDA and net income. In this period, revenue rose\n32 percent, and net income increased by 9 percent, as compared to that in\n2007. These results are largely the effect of increased activities in the\nMilitary and Aerospace divisions.\n\n\nRevenue in first six months was $4,019,396 ($4,064,011 CDN). This\nincrease in revenue reflects a 32 percent gain over the same period in 2007.\nCash flow over the same period was $1,679,773 ($1,698,418 CDN). Net income was\n$936,837 ($947,236 CDN) or nine cents per share. Gross margins for the period\nwere 72 percent and net margins were 23 percent. The following table\nsummarizes the results of the first six months of the fiscal period.\n\n\n 2007 FINANCIAL HIGHLIGHTS (in US $) Six Months\n\n-------------------------------------------------------------------------\n For the For the\n six months six months\n ended ended\nWeighted Average Shares Issued June 30, June 30, % Increase\n And Outstanding: 10,905,420 2008 2007 (Decrease)\n-------------------------------------------------------------------------\nRevenue $4,019,396 $3,037,035 32%\n-------------------------------------------------------------------------\nCash flow from operations(1) $1,679,773 $947,008 77%\n-------------------------------------------------------------------------\nNet Income 936,837 $860,274 9%\n-------------------------------------------------------------------------\nEBITDA $1,902,730 $1,383,602 38%\n-------------------------------------------------------------------------\nEPS (US) $0.09 $0.08 13%\n-------------------------------------------------------------------------\n\n All figures are in US dollars except as noted.\n(note: at 06/30/08, $1US (equal sign) $1.0111 CDN; 6/30/07, $1US (equal sign) $1.0593 CDN)\n\n(1) Cash flow from operations is a non-GAAP term requested by the oil and\n gas investment community that represents net earnings adjusted for\n non-cash items including depreciation, depletion and amortization,\n future income taxes, asset write-downs and gains (losses) on sale of\n assets, if any.\n\n\nRevenue in the three month period ended June 30, 2008 was $2,059,929\n($2,082,794 CDN). This reflects an i...