Business
Omni-Lite reports record revenue for second quarter 2007
Omni-Lite reports record revenue for second quarter 2007.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\nOMNI-LITE INDUSTRIES CANADA INC.\n\n\nOML-TSX VENTURE\n\n\nCERRITOS, CA, Aug. 30 /CNW/ - For the six months ended June 30, 2007,\nOmni-Lite Industries Canada Inc. is pleased to report record revenue and net\nincome. In this period, revenue rose 30 percent, and net income increased by\n20 percent, as compared to that in 2006. These results are largely the effect\nof increased activities in the military division. "The first six months of the\nyear were a strong period of growth for Omni-Lite with earnings of eight cents\nper share as compared to nine cents per share for the whole of 2006," stated\nTim Wang, CFO. "The Company has seen significant growth in the Military\ndivision with approximately 36 percent of total sales coming from this area.\nThis division should continue to see growth in the next year."\n\n\nRevenue in first six months was $3,037,035 ($3,217,131 CDN). This\nincrease in revenue reflects a 30 percent gain over the same period in 2006.\nCash flow over the same period was $947,008 ($1,003,166 CDN). Net income was\n$860,274 ($911,288 CDN) or eight cents per share. Gross margins for the period\nwere 71 percent and net margins were 28 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 six For the six\nWeighted Average Shares months months\n Issued And Outstanding: ended June ended June % Increase\n 11,088,611 30, 2007 30, 2006 (Decrease)\n-------------------------------------------------------------------------\nRevenue $3,037,035 $2,344,616 30%\n-------------------------------------------------------------------------\nCash flow from operations(1) $947,008 $1,156,099 (18%)\n-------------------------------------------------------------------------\nNet Income $860,274 $718,254 20%\n-------------------------------------------------------------------------\nEBITDA $1,383,602 $1,026,245 35%\n-------------------------------------------------------------------------\nEPS (US) $0.078 $0.068 15%\n-------------------------------------------------------------------------\n\n All figures are in US dollars except as noted.\n (note: at 6/30/07, $1US (equal sign) $1.0593 CDN;\n 6/30/06, $1US (equal sign) $1.1201 CDN)\...