- Third Quarter Fiscal 2022 Revenue of
US$3.2 million , compared toUS$1.6 million in the Third Quarter Fiscal Year 2021; 21% Organic Growth Rate - Year-to-Date Fiscal 2022 Revenue of
$8.0 million , compared to$4.1 million in the Year Ago Period; 24% Organic Growth Rate - Company Successfully Executed and Returned to Positive Adjusted EBITDA Generation
- Third Quarter Fiscal 2022 Bookings of
US$3.2 million - Backlog at
US$3.7 million , an Increase of 38% fromDecember 31, 2021 - Cash Balance of
US$1.4 million and Debt-Free Balance Sheet - Year-to-Date Fiscal 2022 use of
US$435K in capital expenditures for improvements in the manufacturing process - Won 12 new programs, Underpins our strength in the market
Third Quarter Fiscal 2022 Results
Revenue for the third quarter of fiscal 2022 was approximately
Fiscal third quarter 2022 bookings were
The Company’s liquidity position remains strong with the Company ending the third quarter of fiscal 2022 with approximately
Management Comments
Financial Summary
All figures in (
Please see Third Quarter Fiscal 2022 Management Discussion and Analysis for additional notes and definitions. Totals in the tables expressed above are rounded values and may not foot.
Investor Conference Call
Omni-Lite will host a conference call for investors on Wednesday,
(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, if any, gains (losses) on sale of assets and non-recurring items. 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 as used herein may not be comparable to similarly titled measures reported by other companies. We believe the use of Adjusted EBITDA, Free Cash Flow and Adjusted 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 value. Adjusted EBITDA, Free Cash Flow and Adjusted 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, Free Cash Flow and Adjusted Free Cash Flow internally to evaluate the operating performance of the Company, to allocate resources and capital, and to evaluate future growth opportunities.
About
For further information, please contact:
Mr.
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 expect 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
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.
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