EXTON, PA — Omega Flex’s Chairman and CEO Kevin R. Hoben announced that the Company’s Net Sales for the first nine months of 2021 and 2020 were $94,554,000 and $74,171,000, respectively, increasing $20,383,000 or 27.5%. Net Sales for the three months ended September 30, 2021 were 17.1% higher than the third quarter of 2020.
The Company states its Net Income through September 2021 was $18,599,000 compared to $12,732,000 through the first nine months of 2020, increasing $5,867,000 or 46.1%. Income for the third quarter of 2021 was 27.6% above the same period in 2020.
Thus far in 2021, the company states it has continued to achieve 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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