Omni-Lite Industries earns $415,000 in Q1 Good on them! This is what I like to see!
David Robbins, Omni-Lite's CEO, stated "I am pleased with our revenue and profitability performance in the first quarter of 2024, as well as the ongoing advancements with DP Cast, which has emerged as an EBITDA threshold contributor. The growth underscores the value of our engineered new products booked early in 2023 that contributed to our revenue growth in Q1 2024. It was also gratifying to demonstrate our ability to scale production and, with our operating leverage, deliver bottom line results that was in line with our targets.
"Our diligent attention to cost control in recent years is evident in our first quarter results, with over 50% of our incremental revenue adding to our Adjusted EBITDA (1)."
"We anticipate healthy bookings continuing in 2024 driven by increased production rates on many aerospace and defense platforms and conversion of new product orders into initial phase of production."