SYS-CON MEDIA Authors: Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel, Peter Silva

News Feed Item

Omni-Lite Industries reports audited 2013 results

OML-TSX VENTURE

CERRITOS, CA, April 23, 2014 /CNW/ - For the year ended December 31, 2013 Omni-Lite Industries Canada Inc. is pleased to announce that revenue was $5,301,035 US ($5,669,086 CAD). In Canadian dollar terms, this is an increase of approximately 6 percent over revenues in 2012. In the 2013 fiscal period, cash flow from operations was $988,936 US ($1,057,598 CAD) versus 1,025,164 US ($1,021,986 CAD) in 2012, an increase of 4 percent in Canadian dollar terms.

"The Company experienced significant growth in both the aerospace and specialty automotive markets in 2013. This growth is continuing into 2014. Further revenue increases will come from the three military programs undertaken in the second quarter of this year," stated David F Grant, CEO. The Company's gross margin grew from approximately 44 percent in 2012 to approximately 55 percent in 2013 due to production efficiencies implemented over the last year. Additional benefits are expected as the Company continues to add key members to the engineering and production teams and completes the integration of six additional progressive cold forging systems into the production facility.

Financial Highlights

Revenue: For the year ended December 31, 2013, Omni-Lite reported revenue of $5,301,035 US ($5,669,086 CAD).

Sales by division are summarized below:

Division     Aerospace     Automotive     Sport & Recreation     Military     Commercial
2013     41%     38%     18%     2%     1%
2012     37%     33%     24%     4%     2%
                               

Net Income: Net income was $137,949 US ($147,527 CAD) versus $210,448 US ($209,796 CAD) in 2012.

Earnings per share: Basic earnings per share were $0.01 ($0.01 CAD) compared to $0.02 ($0.02 CAD) in 2012 based on the weighted average number of shares outstanding of 12,228,094 versus 12,720,976 in 2012. The weighted average number of shares decreased approximately 4 percent over the prior year. The Company repurchased 67,700 shares in 2013 which were subsequently cancelled. The Company has repurchased a total of 926,000 shares over the last two years. The actual numbers of shares outstanding at December 31, 2013 were 12,212,932.

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

Basic Weighted Average
Shares Issued And
Outstanding: 12,228,094
For the year
 ended
December 31,
2013
For the year
ended
December 31,
2012
%
Increase
(Decrease)
Revenue $5,301,035 $5,370,534 (1%)
Cash flow from operations(1) 988,936 1,025,164 (4%)
Net Income 137,949 210,448 (34%)
EPS (US) 0.011 0.017 (32%)
EPS (CAD) 0.012 0.016 (27%)

(Note: at 12/31/13, $1US = $1.06943 CAD; 12/31/12, $1US = $0.9969 CAD)

(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.

Quarterly Information

The following table summarizes the Company's financial performance over the last eight quarters. All figures in US dollars unless noted.

ALL FIGURES IN US DOLLARS UNLESS NOTED

  Dec
31/2013
Sep
30/2013
Jun
30/2013
Mar
31/2013
Dec
31/2012
Sep
30/2012
Jun
30/2012
Mar
31/2012
Revenue 1,182,752 1,667,030 1,395,314 1,055,939 1,090,939 1,525,127 1,386,824 1,367,644
Cash Flow from Operations(1) 53,130 512,102 342,092 81,612 (18,952) 407,355 313,234 323,527
Net Income (Loss) (254,297) 316,596 136,479 (60,829) (173,132) 140,134 179,903 63,543
EPS(loss) - basic (US) (.021) .026 .011 (.005) (.013) .011 .014 .005
EPS(loss) - basic (CAD) (.022) .027 .012 (.005) (.014) .011 .014 .005
EPS(loss) - diluted (US) (.021) .026 .011 (.005) (.014) .011 .014 .005
EPS(loss) - diluted (CAD) (.022) .027 .012 (.005) (.014) .011 .014 .005

In the fourth quarter of 2013, revenue was $1,182,752 US ($1,264,870 CAD), an increase of 8 percent over the same period in 2012.  Net loss was $254,297 US ($271,953 CAD) versus a loss of $173,132 US in 2012.

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 several Fortune 500 companies including Boeing, Airbus, Alcoa, Ford, Caterpillar, 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.

THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE INFORMATION CONTAINED HEREIN.

 

SOURCE Omni-Lite Industries Canada Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Media announced today that Sematext launched a popular blog feed on DevOps Journal with over 6,000 story reads over the weekend. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting an...
SYS-CON Media announced today that Skytap blog on "DevOps Journal" exceeded 84,000 story reads. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Noel Wurst is the managing content editor at Skytap. Skytap provides SaaS-based dev/test environments to the enterprise. Skytap solution removes the inefficiencies and constraints that comp...
ScriptRock makes GuardRail, a DevOps-ready platform for configuration monitoring. Realizing we were spending way too much time digging up, cataloguing, and tracking machine configurations, we began writing our own scripts and tools to handle what is normally an enormous chore. Then we took the concept a step further, giving it a beautiful interface and making it simple enough for our bosses to understand. We named it GuardRail after its function - to allow businesses to move fast and stay sa...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cloudian, Inc., is a Foster City, California - based software company specializing in cloud storage software. The main product is Cloudian, an Amazon S3-compliant cloud object storage platform, the bedrock of cloud computing systems, that enables c...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...