OML-TSX VENTURE
CERRITOS, CA, Oct. 16 /CNW/ - Omni-Lite Industries Canada Inc. is pleased to announce that it has received several new orders in the Sports and Recreation, Aerospace, and Speciality Automotive divisions. The total value of these orders is approximately $436,000 US ($510,000 CDN). Most of these products will be delivered in the fourth quarter of 2008.
"Total revenue for the first nine months of fiscal 2008 reached a record of approximately $6,085,000 US," stated Paul A. Burkey, President and COO. "This is an increase of approximately 20% over the same period in 2007. Revenue for the third quarter was also a record at approximately $2,066,000. Of particular significance, the Company has completed the development of three new components with first article approval expected from the customers this month. Several other new products are expected to be available for customer approvals in November. At this point, the Company is still in the aggressive stage of new program development, with an additional 12 new projects in pipeline. The completion of these programs bodes well for the Company's growth in 2009."
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by 50 companies including Boeing, Airbus, Alcoa, Chrysler, the U.S. Military, Nike, adidas and Reebok.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.
THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE INFORMATION CONTAINED HEREIN.