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

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.

Omni-Lite Industries Canada Inc. reported a 36% revenue increase to US$1.6 million for Q3 FY2021, matching last year's performance. Adjusted EBITDA loss improved by 76% to US$(66,000). Bookings rose to US$1.7 million, yielding a Book-to-Bill ratio of 1.06. Backlog increased to US$1.8 million. However, year-to-date free cash flow showed a usage of US$176,000, with a 24% revenue decline year-over-year. The company secured military contracts worth over US$250,000 post-quarter, signaling potential growth in the defense sector.

Omni-Lite Industries Canada reported its second quarter fiscal 2021 results, revealing a revenue of US$1.2 million, a 26% decline from Q2 2020 and consistent with Q1 2021. The adjusted EBITDA loss was US$(258,000), up from US$(143,000) last year, attributed to reduced revenue from COVID-19 impacts. However, free cash flow loss improved to approximately US$93,000, a 26% enhancement over the previous quarter. The company maintains a strong liquidity position with over US$3.1 million available. Management emphasizes ongoing focus on operational performance and future growth opportunities.

Omni-Lite Industries Canada has secured a follow-on contract valued over US$100,000 for a high voltage switch driver from a leading defense contractor for the U.S. Department of Defense. This order, produced by the Monzite division, is scheduled for shipment in the fourth quarter of the fiscal year and will enhance an X-Band sensor used in airborne platforms for high-speed data transmission. The company's commitment to high-performance microwave components emphasizes its technical strength in meeting military and aerospace demands.

Omni-Lite Industries reported first quarter fiscal 2021 revenue of approximately US$1.3 million, a 41% decline year-over-year but stable sequentially. Despite the revenue drop, the company improved its Adjusted EBITDA loss by 77%, totaling US$(137,000). Free cash flow also improved, with a loss of approximately US$(126,000), a 64% reduction compared to the previous year. The company has strong liquidity of over US$3.2 million and received US$400,000 from the Paycheck Protection Program, indicating solid cash flow management amid the challenges posed by COVID-19.

Omni-Lite Industries Canada reported a revenue of US$6.7 million for the fiscal year 2020, a 28% decline from 2019, mainly due to the pandemic's impact on the aerospace sector. The company recorded a net loss of US$0.6 million or US$(0.05) per diluted share, which is an improvement from a loss of US$1.9 million in 2019. Despite revenue declines, Omni-Lite achieved positive cash flow from operations and implemented cost reductions of US$1.1 million. The company received US$1.2 million in Paycheck Protection Program funding to support its operations.