Omni-Lite Industries California Inc. Receives Orders For Two New Programs From A U.S. Military Customer; Announces Unaudited Revenue Results For the Fiscal Year 2011
January 27, 2012 at 07:00 pm IST
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Omni-Lite Industries California Inc. announced that it has received contracts for the development of two new programs sponsored by the U.S. Military. These contracts follow the first article approval of a high priority component obtained in July of 2011 and a recent order for additional developments necessary for that program received last month. The company expects to review these existing and additional programs at a critical meeting with the customer in the month of February 2012. In addition, the company also announced that it has received new orders that include all divisions of the company. The total value of all new orders, received since the last, is $328,921. Of these new orders approximately 48% are in the Specialty Automotive division, 40% are in the Aerospace division, 7% are in the Sports and Recreation division, and 5% are in the Military division.
The company announced that the unaudited annual revenue for fiscal 2011 was approximately $6.5 million. This figure is lower than the company's projections largely due to the delay in the production of one significant military component. The other divisions of the company generally saw continued increases in revenue.
Omni-Lite Industries Canada Inc. develops and manufactures mission-critical, precision components utilized by Fortune 100 companies in the aerospace, defense, industrial and energy industries. The Company has three business segments: forged, electronic and investment casting components. Its forged products business is conducted in Cerritos, California. Its electronics business is conducted in Nashua, New Hampshire, a value-added contract manufacturer of electronic components for electronic sensors serving the defense, aerospace, medical, and secure communications markets. Its investment castings business is conducted in Brampton, Ontario, where it manufactures ferrous, non-ferrous, and light-alloy investment castings of highly engineered, high-performance hardware and structural components for aerospace, defense, nuclear, and industrial applications. It has developed patented technologies for transferring products through multi-die machines with segmented tooling.
Omni-Lite Industries California Inc. Receives Orders For Two New Programs From A U.S. Military Customer; Announces Unaudited Revenue Results For the Fiscal Year 2011