OMNI-LITE INDUSTRIES REPORTS FOURTH QUARTER AND FISCAL 2024 RESULTS

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CONFERENCE CALL FOR INVESTORS: APRIL 22, 2025, AT 4:00 PM EDT

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❖Record Revenue for Fiscal 2024 of US$15.9 million, a 28% increase over Fiscal 2023

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❖Omni-Lite Achieves Improved Adjusted EBITDA⁽¹⁾ of US$1.6 million in Fiscal 2024

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❖Strong Cash Generation; Improves by US$1.9 million over Fiscal 2023

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❖Bookings for Fiscal 2025 First Quarter of US$5.0 million, a Quarterly Historical High

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LOS ANGELES, CALIFORNIA, April 21, 2025 (GLOBE NEWSWIRE) — Omni-Lite Industries Canada Inc. (the “Company” or “Omni-Lite”; TSXV: OML) today reported results for the fourth quarter and fiscal year ending December 31, 2024. Full financial results are available at sedarplus.ca.

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Fourth Quarter Fiscal 2024 Results

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Revenue for the fourth quarter of fiscal 2024 was approximately US$3.5 million, an increase of 5% as compared to the fourth quarter of fiscal 2023. The increase in revenue was due to organic growth largely in our fasteners and castings business. The fourth quarter is often factored by seasonality in production days and customers’ desires to reduce shipments over the holiday period.

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Adjusted EBITDA⁽¹⁾ was approximately US$(83,000), as compared to approximately US$78,000 in the fourth quarter of 2023. Adjusted EBITDA⁽¹⁾ was impacted by sales mix and the sale of aged inventory at a loss of approximately US$156,000.

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Net income for the fiscal quarter was US$21,000, or US$0.00 per diluted share.

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The Company’s balance sheet remains strong with US$3.0 million in cash and no debt outstanding at year end. Cash increased by US$430,000, with the receipt of Cal Nano loan proceeds during the quarter making a meaningful contribution.

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Bookings in the fourth quarter of 2024 were approximately US$3.2 million and the backlog at December 31, 2024, was approximately US$4.6 million.

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Fiscal Year 2024 Results

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Revenue for the fiscal year ending December 31, 2024, was approximately US$15.9 million, a historical record for the Company and representing a 28% increase over the comparable year ago period. Adjusted EBITDA⁽¹⁾ was approximately US$1.6 million, as compared to approximately US$445,000 in the prior year. The increase of approximately US$1.2 million in Adjusted EBITDA⁽¹⁾ was primarily due to higher revenue and better utilization of labor. Adjusted Free Cash Flow⁽¹⁾ was US$1.8 million which was after capital expenditures of approximately US$112,000, as compared to US$530,000 in 2023.

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Omni-Lite reported fiscal 2024 net income of US$615,000, or US$0.03 per diluted share, as compared to a net income of US$90,000 or US$0.01 per diluted share in fiscal year ended December 31, 2023.

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Over the course of the year, Cal Nano paid off the entire outstanding balance of loans of US$1.1 million, including a senior secured note of US$250,000 that had been fully reserved.

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Bookings for the fiscal year were US$13.4 million.

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Management Comments

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David Robbins, Omni-Lite’s CEO, stated “2024 performance reflected some of our important business themes as an Aerospace and Defense manufacturer of needed high performance components. We can respond to critical customer demands in months, not years, and can scale manufacturing throughput to deliver higher earnings given our structural operating leverage. 2024 was impacted by the ramping up of production quantities of components on two important missile programs, several new Inconel fastener component designs, and new U.S. customers for engine castings.