♦Fiscal 2015 Revenues Approximately
$7,550,000 US
♦Production
Output Increases 19.5% in Fiscal 2015
♦New Bookings of
$753,389 US
CERRITOS, CA, Feb. 4, 2016 /CNW/ - Omni-Lite Industries Canada
Inc. (the "Company") (TSXV:OML) (OTCBB:OLNCF) is pleased to note
that it has received new contracts in the amount of $753,389 US. Of these orders, approximately
57% are in the Specialty Automotive division, 37% are in the
Aerospace division, and 6% are in the Sports and Recreation
division.
"The Company has recently received orders for two new components
in the Aerospace division," stated Allen
Maxin, President. "These components are being
developed in conjunction with our large tier one aerospace
customers to meet the production scale robotic assembly
requirements demanded by the aerospace system integrators.
The Company is also currently negotiating two long term contracts
with major tier one aerospace customers. It is anticipated
that these negotiations can be completed in the first
quarter. The Company is continuing to see growth in many of
its existing programs as customers prepare for 2016. Of
significance, two automotive customers have notified the Company of
increases in production for this year."
The Company's revenues in fiscal 2015 were a record of
approximately $7,550,000 US. In
Canadian dollar terms, based on December 31,
2015 exchange rates, 2015 revenues were a record at
approximately $10,466,900.
Over the same twelve month period, the Company's production
increased by approximately 19.5%. Of particular significance,
military division sales grew to 29% of total sales in fiscal
2015.
The Company has completed the strategic review program
previously announced on September 3,
2015. While Omni-Lite identified and evaluated a range of
alternatives during this program, given the large organic
opportunities now before the Company, the Board of Directors has
unanimously concluded that the continued execution of the Vision
2020 Plan best positions Omni-Lite to drive long-term shareholder
value.
"The Company is fortunate to have a very strong balance sheet as
we enter 2016," stated David Grant,
Chairman and CEO. "The Company is debt free, owns the
manufacturing facility outright, and also has an important
investment in its affiliate, California Nanotechnologies
Corp. The Company has been generating strong financial
metrics. All this leads to the pursuit of many options to
enhance Omni-Lite's position in the marketplace."
Omni-Lite Industries Canada Inc. is a rapidly growing high
technology company that develops and manufactures precision
components utilized by Fortune 500 companies including Boeing,
Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, the U.S. Military, and
Nike.
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.
Website: www.omni-lite.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Omni-Lite Industries Canada Inc.