09:04 AM EDT, 05/21/2025 (MT Newswires) -- Omni-Lite Industries Canada ( OLNCF ) on Wednesday reported lower first-quarter net income and revenue.

First-quarter net income fell by almost three-quarters to US$108,508 from US$415,265 in the same quarter last year.

The company reported diluted EPS of US$0.01, down from US$0.02 a year earlier. Meanwhile, it recorded basic EPS of US$0.01, down from US$0.03 a year earlier.

Revenue fell by about a quarter to US$3.3 million from US$4.3 million a year earlier, a drop the company attributed to a reduction in the company's electronics business following an "unusually high level of shipments" in the first quarter of 2024.

"Our revenue and profitability in the first quarter of fiscal 2025 was driven by strong performance from our fastener business," said Omni-Lite's Chief Executive Officer David Robbins. "The bookings in the quarter were also underpinned by strong fastener orders for new parts going into production that were qualified in 2024. Bookings in castings and electronics have been steady, and we anticipate some noteworthy contract wins for electronics components and bookings from our newly acquired eComp electronics business."

Shares of the company closed up 2.5% to $1.21 on Tuesday on the TSX Venture Exchange.