- New Military Contract Valued in Excess of US$850,000
- Company Reports Year-to-Date Bookings in Excess of US$4.2 million, a 19% increase over prior year period
- Year-to-Date Book-to-Bill Ratio Exceeding 1.3
LOS ANGELES, July 30, 2018 (GLOBE NEWSWIRE) -- Omni-Lite Industries Canada Inc. (the “Company”) (TSX-V:OML) (OTCQX:OLNCF) is pleased to announce today that it received a new follow-on order valued in excess of US$850,000 from one of its long-standing US defense customers in support of a multi-year, strategic US military program. Including this recent order, the Company has received new contract orders valued in excess of US$1.6 million since our last press release on May 20, 2018. Of these orders, 25% are in the Aerospace segment, 53% are in the Military segment, and 22% from our Specialty Automotive and Sports and Recreational segments. “This brings our year-to-date value of the new orders announced to over US$4.2 million,” stated Allen W. Maxin, President. “At today’s exchange rate this would be equivalent to approximately CDN$5.5 million.”
“Equally important, the Company’s year-to-date book-to-bill ratio equated to excess of 1.3, and our aggregated bookings over this time period represented a 19% increase over our bookings from the comparable year ago period,” stated Joe Hachadoorian, V.P. Business Development and Sales. “Additionally, we are also expecting to submit a new hot forged titanium component for first article review for a new Aerospace customer this week, which is a critical step toward securing a high-volume production order for this product.”
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 500 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, John Deere, the U.S. Military and Nike.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the Company’s actual results or outcomes to be materially different from those anticipated and discussed herein.
For further information, please contact:
Mr. Allen Maxin
Tel. No. (562) 404-8510 or (800) 577-6664
Fax. No. (562) 926-6913, email: firstname.lastname@example.org
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