Omni-Lite Industries delivers strong gains in audited 2014 results

- EPS Increase by 247%
- Net Income Increased by 240%
- Cash Flow from Operations Increased by 28%
- 2014 Bookings in Excess of US$8.1 million, a 15.8% Increase over 2013

CERRITOS, CA, April 23, 2015 /CNW/ - For the year ended December 31, 2014, Omni-Lite Industries Canada Inc. (the "Company") (TSXV: OML) is pleased to announce audited revenue of US$5,850,318, an increase of 10 percent over revenues in 2013.  In the 2014 fiscal period, cash flow from operations increased to US$1,269,725 versus US$988,936 in 2013, a gain of 28 percent.

"The Company delivered significant improvement in many financial metrics in 2014. Bookings increased in excess of 15%, which bodes well for management's expectations for 2015.  As a capital intensive company, cash flow from operations is an important measure of the Company's success. In 2014, cash flow from operations in U.S. dollars, increased 28 percent over 2013 results.  Net income was up 240 percent and earnings per share increased 247 percent," stated David F. Grant, CEO.  "In 2015 the Company continues to execute on its growth plan with new programs in the military, aerospace and specialty automotive markets.  Of particular significance, the Company ended 2014 debt free with a strong balance sheet." 

Financial Highlights

Revenue: For the year ended December 31, 2014, Omni-Lite reported revenue of US$5,850,318.

Sales by division are summarized below:

Net Income: Net income was US$469,283.

Earnings per share: Basic earnings per share were US$0.04 compared to US$0.01 in 2013 based on the weighted average number of shares outstanding of 11,982,866 versus 12,228,094 in 2013. The weighted average number of shares decreased approximately 2 percent over the prior year.  As part of an ongoing Normal Course Issuer Bid, the Company repurchased 575,000 shares in 2014 which were subsequently cancelled.  The actual numbers of shares outstanding at December 31, 2014 were 11,637,932.

SUMMARY OF FINANCIAL HIGHLIGHTS (US $)
All figures in US dollars unless noted.

(Note: at 12/31/14, US$ 1 = CAD$ 1.1627; 12/31/13, US$ 1 = CAD$ 1.06943)

⁽¹⁾ Please see 2014 Management Discussion and Analysis for detailed notes and definitions

For complete results, please visit www.sedar.com or request a copy from the Company.

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, Embraer, Alcoa, Ford, Borg Warner, Chrysler, the U.S. Military, Nike, and adidas.

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.

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.

Related Links

http://www.omni-lite.com