Finance

Omega Flex, Inc. Announces First Quarter 2021 Earnings

- by MyChesCo
Omega Flex

EXTON, PA — Kevin R. Hoben, Chairman and CEO, announced that Omega Flex’s Net Sales for the first quarter of 2021 were $30,863,000 compared to $25,266,000 during the first quarter of last year, increasing $5,597,000 or 22.2%.

OMEGA FLEX, INC. (OFLX)
Three Months Ended March 31,
2021       2020      
Net Sales $ 30,863,000 $ 25,266,000
Net Income attributable to Omega Flex, Inc. $ 6,267,000 $ 4,344,000
Earnings Per Share – Basic and Diluted $ 0.62 $ 0.43
Weighted Average Shares – Basic and Diluted 10,094,322 10,094,322
Net Income was $6,267,000 for the first three months of 2021 versus $4,344,000 during the same period last year, increasing $1,923,000 or 44.3%. In contrast to the first quarter of last year which was impeded by the pandemic, the first quarter of 2021 reflects the Company’s best first quarter on record.

Headquartered in Exton, Omega Flex, Inc. (NASDAQ: OFLX), together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in the United States and internationally.

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