Omni-Lite reports revenue increase of 101%, cash flow increase of 123%,
EBITDA increase of 167% and earnings per share increase of 326% for Q2 2010
OML-TSX VENTURE
CERRITOS, CA, July 22 /CNW/ - For the six months ended June 30, 2010, Omni-Lite Industries Canada Inc. is pleased to report revenue of $4,273,781 US ($4,480,632 CDN), Cash flow from Operations of $1,773,615 US ($1,859,458 CDN) and EBITDA of $2,115,778 US ($2,218,182 CDN). Net income was $1,170,426 US ($1,226,640 CDN). These results all reflect record financial performances for the Company. "By every financial metric, Omni-Lite had an outstanding quarter and first six months of the year," stated David F. Grant, Chairman and CEO. "The Company is focused on completing the development of several new projects that could continue a significant level of financial growth for the next several years."
2010 SIX MONTHS FINANCIAL HIGHLIGHTS (in US $)
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Basic Weighted Average For the For the
Shares Issued And period period %
Outstanding: 10,503,096 ended June ended June Increase
30, 2010 30, 2009 (Decrease)
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Revenue 4,273,781 2,125,198 101%
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Cash flow from operations(1) 1,773,615 794,716 123%
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Net Income 1,170,426 278,920 320%
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EPS (US) 0.111 0.026 326%
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EPS (CDN) 0.117 0.030 290%
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All figures are in US dollars except as noted.
(note: at 6/30/10, $1US = $1.0484 CDN; 6/30/09,
$1US = $1.156 CDN)
(1) Cash flow from operations is a non-GAAP term requested by the oil
and gas investment community that represents net earnings adjusted
for non-cash items including depreciation, depletion and
amortization, future income taxes, asset write-downs and gains
(losses) on sale of assets, if any.
Basic earnings per share were $0.11 US ($0.12 CDN) compared to $0.03 US ($0.03 CDN) in the same period of 2009, based on a weighted average number of shares outstanding of 10,503,096.
Revenue in the three month period ended June 30, 2010 was $2,439,705 US ($2,557,786 CDN). Cash flow over the same period was $1,005,306 US ($1,053,962 CDN). EBITDA over the period was $1,191,382 US ($1,249,045 CDN). Net income in the second quarter was $687,889 US. ($721,182 CDN). Earnings per share in Q2 2010 were $0.07 US ($0.07 CDN), based on the weighted average number of shares outstanding of 10,386,633. These are all record metrics for the Company.
SUMMARY OF THREE MONTH FINANCIAL HIGHLIGHTS (US $)
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Weighted Average For the For the
Shares Issued And period period %
Outstanding: 10,503,096 ended June ended June Increase
30, 2010 30, 2009 (Decrease)
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Revenue 2,439,705 1,151,296 112%
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Cash flow from operations(1) 1,005,306 400,177 151%
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Net Income 687,889 170,322 304%
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EPS (US) 0.066 0.016 313%
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EPS (CDN) 0.069 0.019 263%
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(note: at 6/30/10, $1 US = $1.0484 CDN; 6/30/09,
$1 US = $1.156 CDN)
Quarterly Information
The following table summarizes the Company's financial performance over the last eight quarters.
ALL FIGURES IN US DOLLARS UNLESS NOTED
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Jun Mar Dec Sept Jun Mar
30/2010 31/2010 31/2009 30/2009 30/2009 31/2009
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Revenue 2,439,705 1,834,076 1,175,516 1,084,771 1,151,296 973,902
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Cash Flow
from
Opera-
tions(1) 1,005,306 768,309 429,416 314,077 400,177 393,026
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Net
Income 687,889 482,537 83,011 95,078 170,322 108,597
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EPS(US) .066 .045 .008 .009 .016 .010
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EPS(CDN) .069 .046 .008 .009 .016 .010
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Dec Sept
31/2008 30/2008
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Revenue 1,366,201 2,068,730
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Cash Flow
from
Opera-
tions(1) 288,442 884,322
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Net
Income (557,483) 495,683
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EPS(US) (.052) .045
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EPS(CDN) (.064) .047
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Please see www.sedar.com or contact the Company for complete results.
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by 100 companies including Boeing, Airbus, Alcoa, Daimler-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.
For further information: Mr. Tim Wang, CFO, Tel. No. (562) 404-8510, or (800) 577-6664 (Canada and USA), Fax. No. (562) 926-6913, email: [email protected], Website: www.omni-lite.com
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