Omni-Lite Industries Canada Inc. (TSE:OML) has released an update.
Omni-Lite Industries Canada Inc. has reported a successful fourth quarter for fiscal 2023, with a revenue increase of 6% to US$3.3 million, primarily driven by its electronic components business. The company also celebrated a record-breaking backlog valued at US$7.0 million, nearly doubling the previous year, and anticipates strong revenue growth moving into Q1 of fiscal 2024. With a robust balance sheet featuring US$1.1 million in cash and debt-free status, the company is positioned for continued financial health.
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