omnitek engineering corp (OMTK) Key Developments
Omnitek Engineering Corp. Establishes Strategic Alliance with LKQ Corp. to Offer Turn-Key Natural Gas Engines in Mexico
Nov 18 14
Omnitek Engineering Corp. announced it has established a strategic alliance with LKQ Corp. to produce "drop-in" natural gas engines at the company's facility in Monterrey, Mexico, initially for the widely utilized Mercedes OM904 and OM906 engines.
Omnitek Engineering Corp. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Nov 13 14
Omnitek Engineering Corp. reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $449,477 against $280,921 a year ago. Loss from operations was $561,280 against $488,934 a year ago. Loss before income taxes was $542,357 against $973,248 a year ago. Net loss was $542,357 against $973,248 a year ago. Basic and diluted loss per share was $0.03 against $0.05 per share a year ago.
For nine months, the company reported revenues of $1,072,237 against $827,460 a year ago, due to the positive factors noted above and no further impact of the company's relocation to a large facility a year earlier. Loss from operations was $1,477,248 against $1,142,673 a year ago. Loss before income taxes was $1,418,871 against $3,712,887 a year ago. Net loss was $1,419,671 against $3,713,687 a year ago. Basic and diluted loss per share was $0.07 against $0.19 per share a year ago.
Omnitek Engineering Receives Order for Mack E7 Diesel-To-Natural Gas Engine Conversion Kits from Recycling Company
Aug 27 14
Omnitek Engineering Corp. announced it has received an initial order for diesel-to-natural gas engine conversion kits designed and EPA-approved for the 12 liter Mack E7 engine from Chesapeake, Virginia-based TFC Recycling. The initial order for conversion kits is part of TFC Recycling's goal to convert its entire fleet of more than 100 vehicles to operate on natural gas. Omnitek appointed TFC Recycling in June 2013 as an authorized installation center for its diesel-to-natural gas engine conversion systems in the region. The company expects to obtain EPA and CARB approval for additional diesel engine models to address increasing interest from trucking fleets that operate with other diesel engine models.
Omnitek Engineering Corp. Announces Consolidated Unaudited Earnings Results for Second Quarter and Six Months Ended June 30, 2014
Aug 14 14
Omnitek Engineering Corp. announced consolidated unaudited earnings results for second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of $302,385, loss from operations of $477,942, loss before income taxes of $459,509, net loss of $459,509 or $0.02 basic and diluted per share, compared to the revenues of $197,210, loss from operations of $383,061, loss before income taxes of $369,393, net loss of $369,393 or $0.02 basic and diluted per share, for the same quarter a year ago.
For the year to date, the company reported revenues of $622,759, loss from operations of $915,968, loss before income taxes of $876,514, net loss of $877,314 or $0.04 basic and diluted per share, compared to the revenues of $546,539, loss from operations of $653,739, loss before income taxes of $619,014, net loss of $619,814 or $0.03 basic and diluted per share, for the same period a year ago.
Omnitek Engineering Receives Order from National Raisin Company for Biogas Powered Generator
Jul 2 14
Omnitek Engineering Corp. announced it has received an order for a 250 kilowatt diesel-to-biogas converted power generator from National Raisin Company Inc. that incorporates Omnitek's technology for stationary engine applications and provides a clean and economical solution to the agricultural industry in the San Joaquin Valley region of California. The converted engine/generator system will operate as a Combined Heat and Power (CHP) unit, also called cogeneration or distributed generation, and will simultaneously produce two types of energy -- heat and electricity -- from one fuel source (biogas). The biogas to power National Raisin Company's electric generator will be derived from an anaerobic digester process capable of producing an estimated 100,000 cubic feet of renewable natural gas per day from the farm's liquid waste, which is currently diverted to a municipal water treatment facility. It is estimated that current water treatment costs will be reduced by at least 80%, with expectations that water from the anaerobic digester will be recycled and utilized for irrigation of the vineyards -- completely eliminating the need for water treatment by the municipal plant, while reducing CO2 and other greenhouse gas emissions in the immediate surrounding area.