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Omnitek Engineering Corp.  (OMTK)
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Omnitek Engineering's

Competitiveness


 

OMTK Sales vs. its Competitors Q1 2018



Comparing the results to its competitors, Omnitek Engineering reported Total Revenue increase in the 1 quarter 2018 by 0 % year on year.
The revenue growth was below Omnitek Engineering's competitors average revenue growth of 58.01 %, recorded in the same quarter.

List of OMTK Competitors





Revenue Growth Comparisons




Net Income Comparison


Omnitek Engineering Corp. recorded net loss , despite income increase by most of its competitors of 345.07 %

<<  More on OMTK Income Comparisons


Omnitek Engineering's Comment on Competitors and Industry Peers


We believe our products have many important advantages, some of which are performance, ease of use, and lower cost. We compete in a small segment of the transportation and energy arena. Most of the larger multinational corporations do not offer a complete solution for the markets the Company services. We believe that competition in these markets is principally based on the quality of the product, performance, reliability, service, deliverability, and price. Because of the Company's limited financial resources, Omnitek could be at a competitive disadvantage compared to most other suppliers of competitive products and services outside the United States.

Competition - Diesel-to-Natural Gas Engine Conversions.

The Company encounters competing products in countries where no emission standards are enforced, and where carbureted systems are still being used such as China, India, Bangladesh, Peru and others. These systems can be used to convert low power diesel engines found in these countries. When converting emissions controlled high power engines, as found in the USA and Western Europe, a fuel injection system, like the Omnitek system, must be used.

As of today, the Company is not aware of any direct competitors to its diesel-to-natural gas engine conversion technology for high-power heavy-duty diesel engines required to meet US EPA or CARB emissions standards. Suppliers like Fuel Systems Solutions, Bosch and Keihin supply mainly original equipment engine manufacturers and do not offer complete systems to convert diesel engines to natural gas. Cummins offers new natural gas engines, not engine conversion systems.

There are numerous companies, such as BRC, Landirenzo, Tartarini, OMVL, Tomasetto, supplying natural gas components for use on gasoline cars and small trucks. These technologies have been on the market for many years and millions of vehicles have been converted worldwide using these technologies. However, this technology is not suitable for heavy-duty diesel engines, and is not in direct competition with Omnitek's technology. At this time Omnitek is not planning to compete in the small-engine market.

Competition - Dual Fuel Technology

The dual fuel technology, where natural gas is mixed with diesel and both fuels are used at the same time, offers low-money savings potential and is not considered a competing technology.

Competition - New Natural Gas Engines.

Under certain conditions it is not cost effective, or technologically feasible, to convert a diesel engine to operate on natural gas. Emission standards sometimes dictate the use of highly sophisticated technology that cannot be easily retrofit onto an engine. For those situations, Omnitek offers purpose built new natural gas engines which can be used in buses, trucks, generators and other stationary applications.





*Market share is not actual measurement, only performance comparison of companies which report and operate within the same segment.

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OMTK's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME TICKER MARKET CAP REVENUES INCOME EMPLOYEES
Omnitek Engineering Corp. OMTK 2 1 -1 11
Altra Industrial Motion Corp. AIMC 930 930 53 3,855
Allison Transmission Holdings Inc ALSN 6,518 2,654 707 2,700
Barnes Group Inc B 3,168 1,485 68 5,036
Brunswick Corp BC 4,521 4,711 105 12,165
Borgwarner Inc. BWA 8,750 10,543 605 30,000
China Automotive Systems Inc CAAS 101 516 -33 4,230
Caterpillar Inc CAT 79,813 54,722 6,148 114,233
Cummins Inc. CMI 24,790 23,771 2,187 54,600
Cooper-standard Holdings Inc. CPS 1,173 3,695 162 29,000
Dana Inc DAN 2,788 8,395 207 22,600
Dana Corporation DCN 0 0 0 0
Aptiv Plc DLPH 4,930 14,435 1,107 127,000
Emerson Electric Co EMR 42,925 17,739 2,297 103,500
Enerpulse Technologies, Inc. ENPT 0 0 0 8
Eaton Corp Plc ETN 34,350 21,430 2,153 102,000
Fuel Systems Solutions, Inc. FSYS 0 0 0 1,300
General Electric Company GE 87,837 119,739 -32,984 305,000
Greenkraft, Inc. GKIT 4 1 0 18
Generac Holdings Inc. GNRC 3,275 1,940 247 4,202
Honda Motor Co Ltd HMC 0 30,443 10,224 0
Itt Inc. ITT 4,957 2,750 215 9,400
Johnson Outdoors Inc JOUT 661 532 44 1,200
Metaldyne Performance Group Inc. MPG 0 0 0 12,000
Meritor Inc MTOR 2,037 4,180 313 8,400
Enpro Industries, Inc NPO 1,506 1,513 81 5,000
Sigma Labs, Inc. SGLB 18 0 -5 4
Shiloh Industries Inc SHLO 140 1,140 11 3,400
Sorl Auto Parts Inc SORL 62 470 15 3,070
Tenneco Inc TEN 1,863 9,874 288 30,000
Gentherm Inc THRM 1,553 1,042 24 10,098
Timken Co. TKR 3,403 3,449 273 14,000
Turbine Truck Engines Inc TTEG 0 0 0 1
Unique Fabricating, Inc. UFAB 46 177 6 734
Wabco Holdings Inc. WBC 6,086 3,831 414 12,429
SUBTOTAL 328,208 346,108 -5,069 1,031,194


     
       
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