Omni-Lite Industries Canada Inc.
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Report Link: Research Update Released (Dated 11/01/2016)
Analyst: John Nobile
Taglich Rating: Speculative Buy
Price Target: $1.40
Time Horizon: 12 Months
Rating Established: July 12, 2016
Price When Established: $1.20
Most Recent Report: November 1, 2016
Price When Issued: $1.29
Omni-Lite Announces 2016 Revenue, New Orders, and Progress on Conversion of Forging System
On February 6, 2017, Omni-Lite Industries Canada, Inc. (OTC: OLNCF) announced that 2016 revenue is expected to be approximately $7.2 million. Production rose to 110 million components in 2016 for an 8% increase over 2015. 1Q17 revenue is expected to be positively impacted from the restart of deliveries on a military contract that was announced last year.
New orders, totaling $1 million, are comprised of 54% in the aerospace division, 41% in the specialty automotive division, and 5% in the sports and recreational division.
Omni-Lite is currently converting one of its forming machines to operate at elevated temperatures. This is anticipated to open new markets for modern aircraft, automobiles, and other transportation systems that demand lighter and stronger components in their design. The first tests of this system on aerospace titanium is anticipated to begin approximately March 15, 2017.
Omni-Lite Announces New Orders and Progress on Military Program
On November 30, 2016, Omni-Lite Industries Canada, Inc. (OTC: OLNCF) announced new orders of over $916,000 bringing the total value of new orders in 2016 to over $7.7 million.
The company also announced it received notice from a large military customer that a key product developed in a critical program has passed the tests required before a contract can be awarded and production can begin.
Omni-Lite is currently converting one of its forming machines to operate at elevated temperatures. This is anticipated to open new markets for modern aircraft, automobiles, and other transportation systems that demand lighter and stronger components in their design.
Headquartered in Cerritos, CA, Omni-Lite Industries Canada Inc. is a research and development company specializing in the manufacture of precision components forged from advanced composite and other alloyed materials.
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