Omni-Lite Industries Reports Second Quarter Fiscal 2021 Results and Announces Investor Conference Call on Thursday, August 26, 2021

• Fiscal 2021 second quarter revenue of US $ 1.2 million, a decrease of 26% from the second quarter of fiscal 2020 and comparable to the first quarter of fiscal 2021

• Adjusted EBITDA loss stabilized at revenue levels impacted by COVID

• Free cash flow loss of approximately US $ 93,000, a 26% improvement over the first quarter

• Liquidity greater than US $ 3.1 million

TSXV: OML
OTCQX: OLNCF

LOS ANGELES, Aug. 25, 2021 (GLOBE NEWSWIRE) – Omni-Lite Industries Canada Inc. (the “Company” or “Omni-Lite”; TSXV: OML) today announced its results for the second fiscal quarter ended June 30, 2021 Full financial results are available at sedar.com.

Results for the second quarter of fiscal 2021

Revenues for the second quarter of fiscal 2021 were approximately US $ 1.2 million, a decrease of approximately 26% from the second quarter of fiscal 2020, and a decrease of approximately US $ 5. 5% compared to the first quarter of fiscal 2021. The decrease in Revenue compared to the second quarter of 2020 is mainly due to the impact of the COVID-19 pandemic on commercial aerospace and others markets compensated by a gradual increase in electronic defense products. Adjusted EBITDA⁽¹⁾ was approximately US $ 258,000, compared to approximately (US $ 143,000) in the second quarter last year. Negative Adjusted EBITDA was the result of reduced revenue levels combined with a cost structure with a high fixed overhead component. Free movement of capital⁽¹⁾ was a usage of approximately US $ 93,000 in the second quarter of fiscal year, compared to a usage of US $ 127,000 in the first quarter of fiscal 2021, which represents an improvement of approximately 26%.

Management comments

David Robbins, President and CEO of Omni-Lite, said “Omni-Lite Industries has continued to respond to the impact of the COVID-19 pandemic by focusing strongly on all aspects of operational performance as well. than disciplined management of cash flow. We are actively engaged in the broad market of high performance component manufacturing for several exciting new opportunities targeting applications in the industrial, defense and aerospace markets with the potential for long term production needs. towards Omni-Lite’s future growth trajectories. We are also seeing favorable market conditions for business combinations and we are counting on the monetization of our real estate portfolio to fuel the potential in this area, ”noted Mr. Robbins.

The story continues

“Finally, the Company’s liquidity position remains strong thanks to our strict and disciplined approach to managing our costs and expenses. The Company ended the second quarter of fiscal 2021 with approximately US $ 1.6 million in cash and approximately US $ 1.5 million available under its revolving credit facility, ”concluded Mr. Robbins.

Financial summary
All figures are in (US $ 000) unless otherwise noted.

(1) Adjusted EBITDA is a non-IFRS financial measure defined as earnings before interest, taxes, depreciation, amortization, provision for stock-based compensation, gains (losses) on the sale of assets and non- recurring, if applicable. Free cash flow is a non-IFRS financial measure defined as cash flow from operations less capital expenditures. These are non-IFRS financial measures, as defined herein, and should be read in conjunction with IFRS financial measures and are not intended to be viewed in isolation or as a substitute for or superior to the financial information prepared and presented in accordance with IFRS. Non-IFRS financial measures as used in this document may not be comparable to measures with the same name presented by other companies. We believe that the use of Adjusted EBITDA and Free Cash Flow as well as IFRS financial measures improves understanding of our operating results and may be useful for investors to compare our operating performance to that of other companies and estimate the value of our business. Adjusted EBITDA and Free Cash Flow are also useful tools to assess the Company’s operating results given the significant variation that may result; for example, the timing of capital expenditures and the amount of working capital in support of our client programs and contracts. We also use Adjusted EBITDA and internal free cash flow to assess the operational performance of the Company, to allocate resources and capital, and to assess future growth opportunities.

Please see the MD&A Q2 2021 for additional notes and definitions.

Investor conference call

Omni-Lite will host an investor conference call on Thursday, August 26, 2021, starting at 11 a.m. EST, to discuss the second quarter of fiscal 2021 results and review of its business and its operations. To participate in the conference call, (888) 437-3179 in the United States and Canada, or (862) 298-0702 for all other countries. Please call five to ten minutes before the scheduled start time. A replay of the conference call will be available 48 hours after the call and archived on the Company’s investors page of the Company’s website at www.omni-lite.com for 12 months.

About Omni-Lite Industries Canada Inc.

Omni-Lite Industries Canada Inc. is an innovative company that develops and manufactures mission critical precision components used by Fortune 100 companies in the aerospace and defense industries.

For more information, please contact:

Mr. David Robbins
President and CEO
Phone. N ° (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 press release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “plan”, “intention”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. The forward-looking information contained in this press release includes, without limitation, the expected 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. Accordingly, there can be no assurance that the actual results obtained will be the same, in whole or in part, as those stated 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 is subject to various risks and uncertainties and other factors that could cause actual events or results to occur. differ significantly from those anticipated in the search for information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and internationally; industry conditions, government regulations, including environmental permits and approvals, if and when required; volatility of stock markets; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be considered exhaustive.

The forward-looking information contained in this press release is expressly qualified by this cautionary statement. We assume no obligation to update forward-looking information to conform with actual results or changes in our expectations, except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.