Omni-Lite Reports Strong Revenues For First Eight Months of 2015

Omni-Lite Reports Strong Revenues For First Eight Months of 2015

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, September 3, 2015

Last month, Warren Buffett's investment company Berkshire Hathaway reached an agreement to acquire Precision Castparts Corp., which is a manufacturer of equipment for the makers in the aerospace and energy industries. Buffet’s company is paying $37.2 billion, including debt, to acquire Precision Castparts. This is one of the biggest deals done by the billionaire investor. And it highlights the bullish outlook for makers of precision components.


Precision component manufacturers depend to a large extent on the state of the economy. And the economic outlook has improved significantly in the U.S. even as concerns over the global economy remain.

The reason for the bullish sentiment on precision component manufacturers is the outlook for one of its end markets, aerospace. According to auditing and consulting firm Deloitte, revenue and earnings growth in the commercial aerospace sector is expected to be a bright spot and driving force behind the global aerospace and defense industry performance in 2015. In fact, the commercial aerospace sector is expected to set new records for aircraft production this year, Deloitte notes in its report.

The bullish outlook for the aerospace industry augurs well for Omni-Lite Industries Canada Inc. (TSX-Venture:OML), a Canada-based high technology company engaged in the development and manufacture of precision components utilized by Fortune 500 companies.

This morning, OML announced that it has received new contracts that exceed $790,000. The company noted that around 52% of the orders are in the Aerospace division, which once again highlights the growth seen in the aerospace sector. Around 40% of the orders are in the Specialty Automotive Division, the company said in a statement earlier today.

Allen Maxin, President of Omni-Lite Industries, said that as forecast, OML continues to see growth in the aerospace industry. Maxin further said that OML is continuing to develop new customers and new products in this exciting and dynamic space.

For the first eight months of 2015, OML’s revenue totaled approximately $4.9 million, representing an increase of 21% on a year-over-year basis. The company’s production output during the first eight months rose by approximately 34% on a year-over-year basis.

OML also said that Joseph Lee joined the company as a consultant. Lee recently served as the Director of Engineering of a large aerospace company and has more than five decades of experience.

OML also confirmed that it has retained Cypress Associates LLC to advise on its review of potential strategic and financial opportunities.

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