Omni-Lite Inds Cda Inc Stock Price, News & Analysis

Omni-Lite Industries Canada Inc. will hold its annual general and special meeting of shareholders on December 7, 2022, at 11:00 am EST, both in-person and virtually. The meeting will take place at the offices of Peterson McVicar LLP in Toronto, with online participation available via Zoom. Omni-Lite, known for producing precision components for aerospace and defense sectors, emphasizes its commitment to safety and innovation. Shareholders are encouraged to attend and participate in the company's future direction.

Omni-Lite Industries Canada Inc. reported Third Quarter Fiscal 2022 results with revenue of US$3.2 million, a 95% increase from the previous year, driven by strong demand for aerospace components. The company achieved a 21% organic growth rate and positive Adjusted EBITDA of US$4,177, a significant improvement from last year’s loss. Bookings reached US$3.2 million, maintaining a backlog of US$3.7 million. As of September 30, 2022, Omni-Lite reported a cash balance of US$1.4 million and is debt-free.

Omni-Lite Industries Canada Inc. (OTCQX: OLNCF) reported a strong fiscal second quarter for 2022, with revenues of US$2.5 million, up 105% year-over-year. Year-to-date revenues reached US$4.8 million, a 96% increase compared to the previous year. The company achieved a 1.36 book-to-bill ratio and a backlog of US$3.7 million, reflecting positive operational momentum. Despite a 30% decline in Adjusted EBITDA to (US$487,224) and negative free cash flow, management expects sustained growth in future quarters, attributing success to increased demand in aerospace components.

Omni-Lite Industries Canada reported first quarter fiscal 2022 revenue of US$2.4 million, up 87% year-over-year and 43% sequentially, largely due to the acquisition of DP Cast. The organic growth rate is approximately 8%. Adjusted EBITDA was (US$374,000), a 17% improvement sequentially but down 173% year-over-year. The backlog increased by 7% to US$2.5 million. The company's cash balance is US$3.2 million with no debt. A private placement raised US$986,000.

Omni-Lite Industries reported its fiscal 2021 results, highlighting a fourth-quarter revenue of approximately $1.7 million, up 29% year-over-year. Despite an annual revenue decline of 14% to $5.8 million, the company implemented cost reductions of $400,000 and improved working capital efficiency. The acquisition of Design Precision Castings for stock and cash consideration and a closed sale/leaseback of its California facility generated gross proceeds of $6.6 million. Preliminary revenue for Q1 2022 is projected at $2.4 million, reflecting an 86% increase.

Omni-Lite Industries Canada Inc. (TSXV: OML OTCQX: OLNCF) successfully completed a private placement, raising C$1,250,000 by issuing 1,000,000 common shares at C$1.25 each to Candeco Realty Limited. The proceeds will be utilized for working capital and expansion via acquisitions or investments in new technologies. Jan Holland, a director of Omni-Lite, is also associated with Candeco, constituting a related party transaction. The offering awaits final approval from the TSX Venture Exchange and is subject to a four-month hold.

Omni-Lite Industries Canada Inc. has announced its upcoming annual shareholder meeting on February 2, 2022, at 11:00 AM EST, which will be held virtually. Shareholders can join the meeting via Zoom using the provided link and details. The company specializes in manufacturing precision components for aerospace and defense industries, serving Fortune 100 companies. Forward-looking statements highlight the uncertainty of future performance, citing potential risks like economic conditions, regulatory changes, and market volatility.

Omni-Lite Industries has announced the acquisition of Designed Precision Castings for a transaction valued at approximately US$5.7 million. This acquisition, aimed at diversifying Omni-Lite’s aerospace and industrial portfolio, is complemented by a significant C$1.3 million equity commitment from an affiliate of Designed Precision Castings at C$1.25 per share. Additionally, the company completed a sale/leaseback of its California facility for US$6.8 million, positioning itself as debt-free post-acquisition and enhancing growth in key markets.

Omni-Lite Industries Canada has announced a sale and leaseback of its California manufacturing facility for approximately US$6.8 million, significantly exceeding its carrying value. The deal, expected to finalize on December 17, 2021, aims to enhance the company’s financial flexibility and strength, enabling further opportunities for operational growth and acquisitions. After transaction expenses, net proceeds are projected at US$5.6 million, or US$0.50 per share, with some proceeds allocated to repay revolving credit borrowings.