Las Vegas, NV -- (SBWIRE) -- 12/20/2013 -- OmniTek Engineering Corp(NDA) (OTCMKTS:OMTK) carries out the business of alternative fuel engines. It develops and supplies advanced engine management systems and the natural gas engine that use gaseous fuels. The company converts diesel engines for operation of natural gas, propane or hydrogen. It vends three products including conversion kit of fuel and the engines.
OmniTek shared that for the quarter ended September 30, 2013, its revenues were $280,921. The quarter revenues were $562,367 for same period last year. The company says that a big reason for decline of revenues was appreciation of the U.S. Dollar and devaluation of local currencies.
The company says that its cost of revenues was $180,103 for the period and the gross margin decreased from 50% last year to 36%. The company had net loss of $467,895.
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