CERRITOS, CA, Oct. 1, 2013 /CNW/ - Omni-Lite Industries Canada Inc. is pleased to announce approximately $560,159 US ($576,913 CAD) in new orders that include three divisions of the Company. Of these new orders 49 percent are in the Aerospace division, 43 percent are in the Specialty Automotive division and 8 percent are in the Sports and Recreation division.
The Company is also pleased to note that revenue in Q3 2013 was approximately $1,660,000 US ($1,709,650 CAD) an increase of 19 percent from Q2 2013. Q3 revenue in 2013 was also 9 percent higher than Q3 revenue in 2012.
"These results indicate continued growth in both the Aerospace and Specialty Automotive markets," stated David F. Grant, CEO.
"Of particular significance, the Company has delivered one of the U.S. military green rounds that have been under development for several years, to a new customer for final inspection. This customer has received an order from the military to be filled this year. In addition, Omni-Lite has almost completed the preproduction run of a second green round mentioned in a press release of August 20, 2013. It is expected that these components will be delivered to the military customer by Oct 4, 2013," stated Allen W. Maxin, President. "These deliveries mean that Omni-Lite has delivered the last two components of the eight military programs that it has been contracted to develop over the last several years."
Omni-Lite 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.
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.