Omnitech Consultant Group inc.

Omnitech Consultant Group inc.

March 29, 2006 13:38 ET

GCO Returns to Profitabily in the Third Quarter of 2006, Net Profit of $316,613

QUEBEC CITY, QUEBEC--(CCNMatthews - March 29, 2006) - Omnitech Consultant Group Inc. ("GCO") (TSX VENTURE:GCO) is pleased to announce sales of $5,068,230 for the third quarter ended February 28, 2006, an increase of 74% compared to sales of $2,904,089 for the third quarter of last year. The gross profit margin increased to 92%, or $4,684,126, compared to 77%, or $2,236,272, in the third quarter of last year.

The net profit of the third quarter of 2006, which includes amortization and depreciation of intangible assets of $366,875, amounts to 316,613$, which compares favourably to 2006 second quarter's loss of $471,897. The net profit of the third quarter last year was $162,940.

The company regrouped its acquisitions in four business units whose results are presented in the management's report filed on

- The Business Process Optimization (BPO) unit focuses on process
reorganization to increase clients' value-added by using industrial
engineering principles, lean manufacturing and "Six Sigma". Such
reorganization aims at reducing delivery or production delays,
increase productivity and efficiency as well as improve quality and
customer satisfaction

- The Process Controls and Optimization (PCO) unit works to integrate
equipment, software and networks in order to control them, optimize
them, track their performance and transform operational information
into business intelligence. Our experts cover every aspect of
system integration, industrial computing, interface development,
control loop optimization, system implementation, instrumentation
and process automation.

- The Supply Chain Optimization (SCO) unit works at maximizing value-
added positioning in clients' supply chain. Our experts implement
solutions and integrated management systems. They also reorganize
labor methods for planning, storage, distribution, purchases,
suppliers management and customer demand management.

- Finally, the Technological and Network Evolution (TNE) unit focuses
on clients' strategic evolution in selection, management and
support of the equipment necessary for operation performance. Our
experts work to increase performance and reliability of clients'
technological equipment, from security plan, network maintenance,
machine park and system integration.

Omnitech Consultant Group Inc.

Consolidated Income Statement

Three-month periods Nine-month periods
ended ended
February 28 February 28

2006 2005 2006 2005
(unaudited) (unaudited) (unaudited) (unaudited)

SERVICES $5,068,230 $2,904,089 $14,836,917 $6,800,394

AND SERVICES 384,104 667,817 2,286,372 2,135,377

GROSS PROFIT 4,684,126 2,236,272 12,550,545 4,665,017


Sales and
expenses 3,536,948 1,820,337 11,319,413 3,719,100
Research and
expenses - net
of tax credits 52,000 51,395 562,000 89,444
Expenses 281,081 30,881 544,014 155,029
Amortization and
depreciation 366,875 72,307 1,143,094 159,835
Other revenues
Gain on disposal of
assets - (89) - (68,116)
Share of net income
from an entity subject
to significant
influence 3,787 - 8,443 -

4,240,691 1,974,831 13,576,964 4,055,292

INCOME TAXES 443,435 261,441 (1,026,419) 609,725

Income Taxes 126,822 98,501 (293,556) 189,368

(NET LOSS) NET INCOME $316,613 $162,940 $(732,863) $420,357

(Net Loss) Net income
per share (note 6)
Basic (52 352 858
shares - weighted
average) 0.006 0.014 (0.014) 0.014
Diluted (53 566 274
shares - weighted
average) 0.006 0.013 (0.014) 0.013

"The operating expense reduction plan that was put in place in September was successful. Also, by grouping our acquisitions into business units, we will facilitate the supervision of sales and expenses as well as create several synergies" Real Bouchard, Vice-president operations and Chief Financial Officer.

"We are very pleases with our renewed profitability. We mean to keep on controlling our costs and increase our sales in target markets where profit margins are the highest", declared Claude Belley, Chief Executive Officer of GCO.

About Omnitech Consultant Group Inc. ("GCO")

GCO operates in the engineering, information technology and systems maintenance sectors. GCO is capable of intervening in all aspects of industrial engineering and information technology (IT), thus combining a major and distinctive niche in comparison with the competition. GCO integrates new technologies or optimizes existing systems by applying cutting-edge expertise currently used in the best practices of small and medium-sized businesses, including the expertise of large corporations.

TSX Venture Exchange Inc. assumes no responsibility regarding the relevance or accuracy of this press release.

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