Omega Flex, Inc. Announces First Quarter 2021 Earnings

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%.

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.

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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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