Business
Omni-Lite third quarter results
Omni-Lite third quarter results.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\n\nOML-TSX VENTURE EXCHANGE\n\nCERRITOS, CA, Nov. 17 /CNW/ - Omni-Lite Industries Canada Inc. is pleased\nto report revenues of $3,267,341 ($3,827,037 CDN), a 34% increase over the\ncorresponding period in 2004. The Aerospace division continues to lead sales\nat the end of third quarter representing 34% of revenues, up 90% over the same\nperiod in 2004. The growth in the Aerospace division reflects the increased\ndemand of Omni-Lite's components by existing and new customers. The Sports and\nRecreation division contributed the next highest proportion of revenues at 30%\nin 2005 versus 31% in 2004. It was expected that the proportion represented by\nthe Sports and Recreation division would decrease as the other divisions grew,\nbut the sales in the Sports and Recreation division grew a surprising 30% over\nthe same nine months in 2004. Sales in the Military division represented the\nnext 20% of revenue, also up 23% over the same period in 2004. The Automotive\ndivision represented 13% of revenues. However, the sales in the Automotive\ndivision were down 5% reflecting slower sales in the automotive market. Sales\nin the Commercial division completed the remaining 3% of revenue.\nNet income for the nine-month period of 2005 was $1,146,389\n($1,342,765 CDN) or $0.12 ($0.14 CDN) per common share. This compares to net\nincome of $729,303 or $0.08 per share in the nine-month period of 2004, an\nincrease of 57%.\nEarnings per share were calculated using the weighted average shares\noutstanding of 9,747,582. As of September 30, 2005, there were 10,046,904\nshares outstanding.\n\n>\n\n\n","length":6681,"tagName":"div"}]