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Omega Flex, Inc. (OFLX) delivers specialized flexible metal hose solutions for critical industrial applications. This news hub provides investors and industry professionals with authoritative updates on corporate developments, operational milestones, and market positioning.
Access curated press releases covering product innovations, financial results, and strategic partnerships. Our repository includes updates on manufacturing advancements, safety certifications, and industry-specific applications ranging from pharmaceutical installations to petrochemical infrastructure projects.
Key updates feature earnings disclosures, regulatory compliance achievements, and technological breakthroughs in corrosion-resistant piping systems. Bookmark this page for direct access to verified information about Omega Flex's role in advancing fluid transfer solutions across global markets.
Omega Flex reported impressive financial results for the nine months ending September 30, 2021, with Net Sales reaching $94,554,000, up 27.5% from $74,171,000 in 2020. The Net Income also saw a significant increase of 46.1% to $18,599,000 compared to $12,732,000 in the previous year. Similarly, the third quarter exhibited a 17.1% rise in sales and a 27.6% increase in income compared to Q3 2020. The company attributes these successes to effective product delivery amid supply chain challenges and a recovering economy.
Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.30 per share, payable on October 4, 2021 to shareholders of record on September 27, 2021. Chairman Kevin R. Hoben emphasized the company’s commitment to shareholders, indicating that the dividend reflects confidence in the company’s financial health as it navigates economic challenges. Future dividends will be evaluated based on the company's cash needs, financial condition, capital expenditures, and potential acquisitions, ensuring sustainability and strategic financial management.
Omega Flex, Inc. (OFLX) reported net sales of $62,829,000 for the first half of 2021, marking a 33.4% increase from $47,084,000 in 2020. The second quarter sales rose by 46.5% year-over-year. Net income for the first six months was $12,451,000, up 57.3% from $7,915,000 in 2020, with a 73.2% increase in Q2. This growth is attributed to effective product delivery amidst raw material challenges and economic recovery.
Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.30 per share, payable on July 6, 2021, to shareholders of record on June 22, 2021. This increase reflects the company's ongoing growth and confidence in navigating economic challenges. The Board will assess future dividend amounts based on operational results, financial health, capital needs, and potential acquisitions. The statement includes forward-looking remarks that caution investors about uncertainties affecting future performance.
Omega Flex announced strong financial results for Q1 2021, with net sales reaching $30.86 million, a 22.2% increase from $25.27 million in Q1 2020. The net income rose to $6.27 million, up 44.3% from $4.34 million year-over-year. This marks the company's best first quarter on record, reflecting a recovery following pandemic-related challenges.
Omega Flex, Inc. (NASDAQ:OFLX) announced a quarterly dividend of $0.28 per share, payable on April 14, 2021, to shareholders on record as of April 5, 2021. The company’s chairman, Kevin R. Hoben, expressed confidence in the firm’s capacity to navigate current economic challenges as evidenced by their commitment to maintain this dividend. Future dividend amounts will be assessed quarterly, considering financial performance, cash requirements, and potential acquisitions.
Omega Flex (OFLX) reported a net sales decrease of 5.0% for 2020, totaling $105,796,000 compared to $111,360,000 in 2019, primarily due to COVID-19 disruptions. However, net income increased by 15.2% to $19,910,000, with the fourth quarter showing a 29.3% rise in income year-over-year, reflecting improved sales and reduced atypical costs. The company maintained its gross profit margin despite pandemic-related challenges and noted strong sales growth in Q4 2020 compared to the same period in 2019.
Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.28 per share, payable on January 5, 2021. This decision reflects the Board's confidence in the company's ability to navigate challenging economic conditions. Shareholders of record by December 21, 2020 are eligible for this dividend. The Board will assess future dividends based on operational performance, financial health, and capital expenditure needs.
Omega Flex reported Q3 2020 net sales of $27.1 million, a 3.4% decline year-over-year, contributing to a 9.1% decrease to $74.2 million for the first nine months compared to 2019. Despite lower sales, net income rose to $12.7 million, an 8.5% increase from $11.7 million in the same period last year. This growth was attributed to reduced SG&A expenses, including lower product liability costs after a favorable court ruling. However, gross profit declined due to reduced sales volume, impacting overall profit margins.
Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.28 per share, payable on October 13, 2020, to shareholders on record by October 5, 2020. Chairman Kevin R. Hoben emphasized the company's commitment to maintaining this dividend amid challenging economic conditions, reflecting confidence in its financial resilience. Future dividends will be determined based on the company's operational results, financial health, capital plans, and potential acquisitions.
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