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Omni-Lite Industries Reports Strong Third Quarter

Ein Wärmekraftwerk (Symbolbild). © Alex_Wang1 / iStock / Getty Images Plus / Getty Images

PR Newswire

CERRITOS, CA, Oct. 20, 2016

Q3 Cash Flow Up 44%
Q3 Adjusted EBITDA⁽¹⁾ Up 30%
Q3 Earnings per share Up 48%

TSXV: OML
OTCQX: OLNCF

CERRITOS, CA, Oct. 20, 2016 /PRNewswire/ - For the nine months ended September 30, 2016 Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") is pleased to report revenue of $5,768,520 US and cash flow from operations⁽¹⁾ of $1,855,315 US. In the first nine months of 2016, gross margin increased to 61.4 percent from 59.8 percent in the same period last year.

SUMMARY OF NINE MONTH FINANCIAL HIGHLIGHTS (US $)

For the period ended

September 30, 2016

For the period ended

September 30, 2015

ARIVA.DE Börsen-Geflüster

Kurse

Omni Lite Industries Cda I

0,621 $

+19,0%

Increase

(Decrease)

Revenue

$5,768,520

$6,017,254

(4)%

Cash flow from operations⁽¹⁾

1,855,315

1,987,909

(7)%

Adjusted EBITDA⁽¹⁾

1,848,070

2,075,091

(11)%

Net income

1,086,389

1,250,347

(13)%

EPS (US)

0.10

0.11

(8)%

Revenue in the three month period ended September 30, 2015 was $2,173,388 US, an increase of 9% over the same period last year. Cash flow from operations⁽¹⁾was $908,908 US, an increase of 44% over the same period in 2015. Adjusted EBITDA⁽¹⁾ over the period was $906,537 US, an increase of 30%. Net income in the third quarter was $505,223 US, an increase of 36% over 2015. Earnings per share in Q3 2016 were $0.05 US, an increase of 48% over the third quarter of 2015.

SUMMARY OF THREE MONTH FINANCIAL HIGHLIGHTS (US $)

	For the three months ended September 30, 2016	For the three months ended September 30, 2015	% Increase
Revenue	$2,173,388	$2,002,623	9%
Cash flow from operations⁽¹⁾	908,908	633,086	44%
Adjusted EBITDA⁽¹⁾	906,537	698,385	30%
Net Income	505,223	370,453	36%
EPS (US)	$0.05	$0.03	48%

The Company is pleased to report that gross margins improved to 66.8% in Q3. This is a 610 basis point increase from the gross margin in the prior period. "The Company produced over 32 million components in Q3, a record for quarterly production at Omni-Lite. This helped drive the Company to almost record production efficiencies," stated Allen Maxin, President.

Under the NCIB, the Company has repurchased a total of 855,100 shares from January 1, 2016 to September 30, 2016.

The Company is pleased to announce that it has initiated the construction of a 172KW solar array on the rooftop of the corporate headquarters in Los Angeles. "This system will produce almost 50% of the power utilized by the California facility," stated David Grant, Chairman and CEO. "Utilizing some of the most efficient equipment available, the Company expects to produce over $5,000,000 US worth of power in the next 30 years. This will significantly reduce our carbon footprint in the years to come."

Quarterly Information

The following table summarizes the Company's financial performance over the last eight quarters.

Sep

30/2016

Jun

30/2016

Mar

31/2016

Dec

31/2015

Sep

30/2015

Jun

30/2015

Mar

31/2015

Dec

31/2014

Revenue

$2,173,388

$2,110,643

$1,484,489

$1,462,704

$2,002,623

$2,241,296

$1,773,335

$1,038,770

Cash Flow from

Operations⁽¹⁾

908,908

604,607

341,800

118,319

663,086

829,469

525,354

(104,004)

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