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Micro-Cap Announces Record Q2 Revenues, Stock Hits 52 Week High
By: AllPennyStocks.com News
July 22, 2010
Things are looking up for a cold forging company based out of California, but making inroads all over North America. In late July, Omni-Lite Industries Canada Inc. (TSX-Venture:OML) reported six-month revenues of $4.4 million, up 101% from the same month the year before. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) came in at $2.2 million, or 167% better than the year before, and net income at $1.2 million.
On a per-share basis, earnings came in at 12 cents, compared to three cents the year before, a whopping increase of 326%. CEO David Grant added his company was “focused on completing the development of several new projects that could continue a significant level of financial growth for the next several years."
OLM 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.
Founded in September 1992, OML has quickly grown to become one of the world's leading developers of precision components utilizing advanced composite materials and computer-controlled cold forging techniques.
OML’s early success came from the sports and recreation industry where its ultra light-weight ceramic composite track spikes quickly became the industry standard used by most of the world’s elite athletes. The company has since broadened its product offerings to include products for the automotive, commercial, aerospace, and military markets.
Cold forging involves the use of highly sophisticated computer-controlled machines that forge metal parts from round wire feedstock using exceptionally high pressure. The results are a very precise end product (tolerances of 0.0005 inches), virtually no raw material wastage, and high volume production capability. Up to 300 parts can be produced in one minute.
The bottom line exhibited by OML is satisfying, but not really surprising; the company has been profitable each year since 1995. The company’s long-term strategy for growth includes further research and development of new products and materials, expansion into a new advanced production facility, and the formalization of a sales team to target new customers.
Investors also caught the whiff of all that black ink on July 22, sending OML’s stock price to a new 52-week high of $1.40, surpassing the old mark of $1.32, set in mid-June, and head and shoulders above the year-long gully of 60 cents, dating back to March. With its international contacts, high-quality products, and will toward profitability, year-after-year, this stock rates second, third, and fourth looks from would-be investors anxious to add high-tech exposure to their portfolios.
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