Omni-Lite Industries Canada Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 17, 2022 at 07:13 am EDT
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Omni-Lite Industries Canada Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 2.46 million compared to USD 1.2 million a year ago. Net loss was USD 0.480398 million compared to USD 0.44775 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.04 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to USD 0.04 a year ago.
For the six months, sales was USD 4.84 million compared to USD 2.47 million a year ago. Net loss was USD 1.18 million compared to USD 0.801611 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to USD 0.07 a year ago.
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.