Omega Flex, Inc. Announces Second Quarter Earnings

Omega Flex

EXTON, PA  — Kevin R. Hoben, Omega Flex’s (NASDAQ: OFLX) Chairman and CEO, recently announced that the Company’s Net Sales for the first six months of 2021 and 2020 were $62,829,000 and $47,084,000, respectively, increasing $15,745,000 or 33.4%. Net Sales for the three months ended June 30, 2021, were 46.5% higher than the second quarter of 2020.

Omega Flex’s Net Income through June 2021 was $12,451,000 compared to $7,915,000 through the first six months of 2020, increasing $4,536,000 or 57.3%. Income for the second quarter of 2021 was 73.2% above the same period in 2020.

Thus far in 2021, the Company has achieved unprecedented sales and income levels, due in part to our ability to make and deliver product amidst severe challenges in obtaining raw materials and maintaining a stable workforce, and also in part due to the resurgence of the overall economy in the United States.

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