OMEGA FLEX, INC.

(OFLX)
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Delayed Nasdaq  -  05/16 04:00:01 pm EDT
99.20 USD   -0.19%
05/05OMEGA FLEX, INC. Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q)
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05/05Omega Flex, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
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04/21OMEGA FLEX : Q1 Earnings Snapshot
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OMEGA FLEX, INC. : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

01/19/2022 | 04:47pm EDT

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 19, 2022, Omega Flex, Inc. (the "Company") announced the following organizational changes, effective immediately:



  (a) Dean W. Rivest has been appointed as President of the Company, reporting
      directly to Mark F. Albino, who has retained the position of chief operating
      officer of the Company,
  (b) Edwin B. Moran has been appointed as Executive Vice President of Sales,
      including all industrial and commercial products, reporting to Mr. Rivest,
  (c) Matthew F. Unger has been appointed as Vice President - Finance and Chief
      Financial Officer, reporting to Mr. Rivest.



Mr. Rivest has been employed by the Company since 2000, and most recently was Executive Vice President, responsible for manufacturing and engineering for all products, as well as sales and marketing for the industrial and MediTrac® products, which he has held since 2020. Prior to that, Mr. Rivest was the Vice President and General Manager of the industrial and MediTrac® products since 2005.

Mr. Moran has been employed by the Company since 2001, and most recently was the Vice President for Residential Markets for flexible gas piping products. Mr. Unger was formerly the Interim Finance Director since 2021, and before that was the Company controller. Other than salary adjustments commensurate with their new positions, there have been no other changes to the compensation of the three officers.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS



(a) none
(b) none
(c) none
(d) The following documents are filed herewith as exhibits to this Form 8-K:




  Exhibit 99.1 -   Press Release
  104            Cover Page Interactive Data File (embedded within the Inline XBRL
                 document)

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Financials (USD)
Sales 2021 130 M - -
Net income 2021 26,2 M - -
Net cash 2021 29,5 M - -
P/E ratio 2021 48,9x
Yield 2021 0,93%
Capitalization 1 001 M 1 001 M -
EV / Sales 2020 13,7x
EV / Sales 2021 9,63x
Nbr of Employees 170
Free-Float 31,9%
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Income Statement Evolution
Managers and Directors
Kevin Ralph Hoben Chairman & Chief Executive Officer
Dean W. Rivest President
Matthew F. Unger Chief Financial Officer & Vice President-Finance
Mark Francis Albino Chief Operating Officer & Director
David K. Evans Independent Director
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