OMNI-LITE INDUSTRIES REPORTS SECOND QUARTER AND YEAR-TO-DATE FISCAL 2024 RESULTS
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 (TSXV: OML, OTCQX: OLNCF) ha riportato risultati solidi per il secondo trimestre del 2024 con entrate record di 4,32 milioni di dollari USA, un aumento del 42% rispetto all'anno precedente. L'EBITDA rettificato ha raggiunto i 552.000 dollari USA, triplicando rispetto all'anno passato. L'azienda ha generato Flusso di Cassa Libero di 848.000 dollari USA, portando il suo saldo di cassa a 1,7 milioni di dollari USA senza alcun debito.
I punti salienti dell'anno fino ad oggi includono entrate di 8,6 milioni di dollari USA (aumento del 49%) e EBITDA rettificato di 1,4 milioni di dollari USA. Il reddito netto per il secondo trimestre è stato di 286.000 dollari USA, ovvero 0,02 dollari USA per azione diluita. L'ordine arretrato al 30 giugno 2024 era di 4,7 milioni di dollari USA. Il CEO David Robbins ha espresso soddisfazione per la performance finanziaria, sottolineando una redditività sana e una buona conversione di contante nonostante un mix di prodotti sfavorevole e costi di avviamento di nuovi prodotti.
Omni-Lite Industries (TSXV: OML, OTCQX: OLNCF) reportó resultados sólidos para el segundo trimestre de 2024, con ingresos récord de 4.32 millones de dólares EE.UU., un aumento del 42% en comparación con el año anterior. El EBITDA ajustado alcanzó los 552,000 dólares EE.UU., triplicando respecto al año anterior. La empresa generó Flujo de Caja Libre de 848,000 dólares EE.UU., elevando su saldo de efectivo a 1.7 millones de dólares EE.UU. sin deudas.
Los aspectos destacados del año hasta la fecha incluyen ingresos de 8.6 millones de dólares EE.UU. (aumento del 49%) y EBITDA ajustado de 1.4 millones de dólares EE.UU. La utilidad neta para el segundo trimestre fue de 286,000 dólares EE.UU. o 0.02 dólares por acción diluida. El rezago de pedidos al 30 de junio de 2024 era de 4.7 millones de dólares EE.UU. El CEO David Robbins expresó satisfacción con el rendimiento financiero, señalando una rentabilidad saludable y conversión de efectivo a pesar de una mezcla de productos desfavorable y costos de inicio de nuevos productos.
Omni-Lite Industries (TSXV: OML, OTCQX: OLNCF)는 2024년 2분기 결과가 432만 달러(미국)라는 기록적인 수익을 보고하며 전년 대비 42% 증가했다고 발표했습니다. 조정된 EBITDA는 55만 2천 달러에 도달하여 이전 해의 세 배로 증가했습니다. 이 회사는 자유 현금 흐름 84만 8천 달러를 생성하여 부채 없이 현금 잔고를 170만 달러로 늘렸습니다.
올해 지금까지의 주요 내용은 860만 달러의 수익 (49% 증가)과 140만 달러의 조정된 EBITDA입니다. 2분기의 순이익은 28만 6천 달러로, 희석 주당 0.02달러에 해당합니다. 2024년 6월 30일 현재 수주 잔량은 470만 달러에 달했습니다. CEO David Robbins는 재무 실적에 대해 만족감을 표명하며 불리한 제품 믹스와 신제품 시작 비용에도 불구하고 건강한 수익성과 현금 전환이 이루어졌다고 언급했습니다.
Omni-Lite Industries (TSXV: OML, OTCQX: OLNCF) a rapporté de solides résultats pour le deuxième trimestre 2024 avec des revenus records de 4,32 millions de dollars US, soit une augmentation de 42 % par rapport à l'année précédente. Le EBITDA ajusté a atteint 552 000 dollars US, triplant par rapport à l'année dernière. L'entreprise a généré un flux de trésorerie libre de 848 000 dollars US, augmentant son solde de trésorerie à 1,7 million de dollars US sans aucune dette.
Les faits saillants de l'année à ce jour comprennent des revenus de 8,6 millions de dollars US (augmentation de 49 %) et un EBITDA ajusté de 1,4 million de dollars US. Le bénéfice net pour le deuxième trimestre était de 286 000 dollars US, soit 0,02 dollar par action diluée. Le carnet de commandes au 30 juin 2024 s'élevait à 4,7 millions de dollars US. Le PDG David Robbins a exprimé sa satisfaction quant aux résultats financiers, soulignant une rentabilité saine et une conversion de trésorerie malgré un mix de produits défavorable et des coûts de lancement de nouveaux produits.
Omni-Lite Industries (TSXV: OML, OTCQX: OLNCF) hat für das zweite Quartal 2024 starke Ergebnisse mit rekordverdächtigen Einnahmen von 4,32 Millionen USD reported, was einem Anstieg von 42 % im Vergleich zum Vorjahr entspricht. Das bereinigte EBITDA erreichte 552.000 USD, was sich im Vergleich zum Vorjahr verdreifachte. Das Unternehmen erwirtschaftete Freien Cashflow von 848.000 USD, was den Kassenbestand auf 1,7 Millionen USD bei null Schulden erhöhte.
Die Highlights des bisherigen Jahres beinhalten Einnahmen von 8,6 Millionen USD (49 % Anstieg) und bereinigtes EBITDA von 1,4 Millionen USD. Der Nettogewinn im zweiten Quartal betrug 286.000 USD oder 0,02 USD pro verwässerter Aktie. Der Auftragsbestand zum 30. Juni 2024 betrug 4,7 Millionen USD. CEO David Robbins äußerte sich zufrieden mit der finanziellen Leistung und betonte die gesunde Rentabilität und Cash-Konversion trotz eines ungünstigen Produktmixes und der Kosten für die Einführung neuer Produkte.
- Record-breaking Q2 revenue of US$4.32 million, up 42% year-over-year
- Adjusted EBITDA increased to US$552,000, tripling from the previous year
- Free Cash Flow of US$848,000, a US$686,000 increase from Q2 2023
- Strong balance sheet with US$1.7 million in cash and no debt
- YTD revenue up 49% to US$8.6 million
- YTD Adjusted EBITDA increased by US$1.3 million to US$1.4 million
- Unfavorable product mix in Q2
- New product start-up costs impacted profitability
- Q2 bookings of US$2.7 million lower than revenue, indicating potential slowdown
CONFERENCE CALL FOR INVESTORS AUGUST 1, 2024, AT 11:00 AM EDT
Second Quarter Fiscal 2024 Highlights
- Continued Record-breaking Revenue of US
$4.32 million , a42% Increase Over the Year Ago Period - Adjusted EBITDA(1) of approximately US
$552,000 , Representing 3x Over the Comparable Year Ago Period Performance - Free Cash Flow(1) of approximately US
$848,000 , Resulting in Balance Sheet Cash of$1.7 million
YTD Fiscal 2024 Highlights
- Revenue of US
$8.6 million , an Increase of49% Over the Year Ago Period - Adjusted EBITDA(1) of US
$1.4 million , an Increase of US$1.3 million Over the Comparable Year Ago Period - Free Cash Flow(1) of approximately US
$961,000 , a Year-over-Year Increase of US$590,000
TSXV: OML OTCQX: OLNCF
LOS ANGELES, CALIFORNIA, July 31, 2024 (GLOBE NEWSWIRE) -- Omni-Lite Industries Canada Inc. (the "Company" or “Omni-Lite”; TSXV: OML) today reported results for the second quarter ending June 30, 2024. Full financial results are available at sedarplus.ca.
Second Quarter Fiscal 2024 Results
Revenue for the second quarter of fiscal 2024 was approximately US
Adjusted EBITDA(1) for the second quarter of fiscal 2024 was approximately US
Net income for the quarter was approximately US
Bookings in the second quarter of fiscal 2024 were approximately US
Management Comments
David Robbins, Omni-Lite’s CEO, stated “Overall, I am quite pleased with our financial performance in the second quarter of fiscal 2024. Profitability and cash conversion was healthy despite an unfavorable product mix and some new product start-up costs in the quarter. The bookings in the quarter reflected a higher fulfilment of customers’ near-term critical needs over larger long-term contract requirements. However, bookings drivers and pipeline remain robust, and we anticipate healthy bookings continuing in 2024 driven by increased production rates on high temperature Inconel fastener components, missile defense sensor components and conversion of new product orders into initial phase production rates.
We are also pleased to see the rise in the Cal Nano share price subsequent to the quarter end. Cal Nano has been an important source of value creation for Omni-Lite shareholders and, at some point in the future, may provide potential liquidity to fuel Omni-Lite's growth. However, to date, retention of our full stake has been beneficial for Omni-Lite shareholders.
Financial Summary
All figures in (US
Investor Conference Call
Omni-Lite will host a conference call for investors on August 1, 2024, beginning at 11:00 A.M. (EDT) to discuss the Second Quarter 2024 results and review of its business and operations. To join the conference call, 888-437-3179 in the USA and Canada, or 862-298-0702 for all other countries. Please call five to ten minutes prior to the scheduled start time. A replay of the conference call will be available 48 hours after the call and archived on the Company’s investors page of the Company’s website at www.omni-lite.com for 12 months.
(1) Adjusted EBITDA is a non-IFRS financial measure defined as earnings before interest, taxes, depreciation, amortization, stock- based compensation provision, gains (losses) on sale of assets, and non-recurring items, if any. Free Cash Flow is a non-IFRS financial measure defined as cash flow from operations minus capital expenditures. Adjusted Free Cash Flow is a non-IFRS financial measure defined as Free Cash Flow excluding special items, among others, gains (losses) on sale of assets and non- recurring items, net of tax effects, if any. These are non-IFRS financial measures, as defined herein, and should be read in conjunction with IFRS financial measures and they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. The non-IFRS financial measures used herein may not be comparable to similarly titled measures reported by other companies. We believe the use of Adjusted EBITDA, Adjusted Free Cash Flow and Free Cash Flow along with IFRS financial measures enhances the understanding of our operating results and may be useful to investors in comparing our operating performance with that of other companies and estimating our enterprise.
Adjusted EBITDA, Adjusted Free Cash Flow and Free Cash Flow are also useful tools in evaluating the operating results of the Company given the significant variation that can result from, for example, the timing of capital expenditures and the amount of working capital in support of our customer programs and contracts. We also use Adjusted EBITDA, Adjusted Free Cash Flow and Free Cash Flow internally to evaluate the operating performance of the Company, to allocate resources and capital, and to evaluate future growth opportunities.
Please see Q2 2024 Management Discussion and Analysis for additional notes and definitions.
About Omni-Lite Industries Canada Inc
Omni-Lite Industries Canada Inc. is an innovative company that develops and manufactures mission critical, precision components utilized by Fortune 100 companies in the aerospace and defense industries.
For future information, please contact:
Mr. David Robbins
Chief Executive Officer
Tel. No. (562) 404-8510 or (800) 577-6664
Email: d.robbins@omni-lite.com
Website: www.omni-lite.com
Forward Looking Statements
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intent”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information in this press release includes, but is not limited to, the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward- looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward- looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental consents and approvals, if and when required; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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.
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