Omni-Lite Inds Cda Inc - OLNCF STOCK NEWS

Omni-Lite Industries reported Q3 2024 results with revenue of US$3.8 million, a 14% increase year-over-year, driven by growth in electronic components and fasteners businesses. Adjusted EBITDA was US$187,000, down from US$278,000 in Q3 2023, impacted by an unexpected casting equipment outage. Free Cash Flow improved to US$636,000, up US$387,000 from last year. The company maintains a strong balance sheet with US$2.6 million in cash and no debt. Year-to-date revenue reached US$12.4 million, up 36%, with bookings of US$3.9 million and a book-to-bill ratio of 1.03.

Omni-Lite Industries Canada has announced hybrid attendance options for its upcoming annual general and special meeting scheduled for October 24, 2024 at 11:00 AM EST. Shareholders can attend either in person at Peterson McVicar LLP offices in Toronto or virtually via Zoom. The meeting will cover matters related to the financial year ended December 31, 2023. The company, which specializes in designing and manufacturing precision components for aerospace & defense, transportation, and communication applications, has provided detailed Zoom access information including meeting ID and various dial-in numbers for remote participation.

Omni-Lite Industries (TSXV: OML, OTCQX: OLNCF) reported strong Q2 2024 results with record-breaking revenue of US$4.32 million, a 42% increase year-over-year. Adjusted EBITDA reached US$552,000, tripling from the previous year. The company generated Free Cash Flow of US$848,000, boosting its cash balance to US$1.7 million with no debt.

Year-to-date highlights include revenue of US$8.6 million (49% increase) and Adjusted EBITDA of US$1.4 million. Net income for Q2 was US$286,000 or US$0.02 per diluted share. The backlog as of June 30, 2024, stood at US$4.7 million. CEO David Robbins expressed satisfaction with the financial performance, noting healthy profitability and cash conversion despite an unfavorable product mix and new product start-up costs.

Omni-Lite Industries reported record-breaking revenue of US$4.3 million for Q1 2024, a 57% YoY increase. Adjusted EBITDA soared to US$884,000, up from approximately US$(79,000) in Q1 2023, with a margin of 20.5%. Net income for the quarter was US$415,000, or US$0.03 per diluted share. Bookings reached US$3.7 million, contributing to a backlog of US$6.5 million, a 58% YoY increase. The company maintains a strong balance sheet with US$1.1 million in cash and no debt.

Omni-Lite Industries Canada Inc. reported strong financial results for the fourth quarter and fiscal year ending December 31, 2023. The company saw a 6% increase in revenue for Q4 2023, reaching approximately US$3.3 million, driven by organic growth in the electronic components business. Adjusted EBITDA improved to approximately US$78,000 compared to US$(270,000) in Q4 2022. The company's balance sheet remains robust with US$1.1 million in cash and no debt. Net income for the quarter was US$477,000, impacted by non-recurring items. Bookings in Q4 2023 were up 48% to US$4.3 million, leading to a record backlog of US$7.0 million. For the fiscal year 2023, revenue increased by 11% to approximately US$12.4 million, with Adjusted EBITDA reaching US$445,000 compared to US$(1,128,000) in the prior year. Adjusted Free Cash Flow was US$534,000 after capital expenditures. Net income for 2023 was US$90,000, a significant improvement from the US$2.6 million loss in 2022. Omni-Lite's CEO, David Robbins, highlighted the positive results and expressed optimism for further growth in 2024, especially from DP Cast and Cal Nano. The company expects continued organic revenue growth and strong performance in aerospace and defense bookings.

Omni-Lite Industries Canada Inc. (TSXV: OML) reported Q3 Fiscal 2023 revenue of US$3.3 million, up 4% YoY, and 9% over Q2’ 2023. Adjusted EBITDA of US$278,000, highest since March 2020. Free Cash Flow of US$255,000, an increase of US$870,000 YoY. Bookings of US$4.7 million, a 33% increase over Q2’2023. Backlog of US$6.1 million, a 31% increase over Q3’2023. Company ended the quarter with a strong balance sheet with US$1.3 million in cash and remained debt-free. Revenue for YTD Fiscal 2023 was US$9.1 million, a 13% increase over the year ago period. Adjusted EBITDA of US$367,000, an increase of US$1.2 million YoY. Free Cash Flow of US$627,000, an increase of US$2.0 million YoY. Omni-Lite successfully completed a C$1.5 million private placement offering of common equity units along with a debt-for-equity swap involving Cal Nano. Omni-Lite’s investment in Cal Nano is comprised of 7.2 million common shares and senior secured notes with a face amount outstanding of approximately US$1.0 million. Management expects revenue growth in fiscal 2024.

Omni-Lite Industries Canada announces successful Annual General Meeting of shareholders

Omni-Lite Industries Canada, Inc. announces that the annual general and special meeting of shareholders will be held in person and virtually.