Omega Flex, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
October 30, 2020 at 01:04 pm EDT
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Omega Flex, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 27.087 million compared to USD 28.030 million a year ago. Operating income was USD 6.379 million compared to USD 4.373 million a year ago. Net income was USD 4.817 million compared to USD 3.368 million a year ago. Basic earnings per share from continuing operations was USD 0.48 compared to USD 0.33 a year ago. For the nine months, sales was USD 74.171 million compared to USD 81.627 million a year ago. Operating income was USD 17.110 million compared to USD 15.108 million a year ago. Net income was USD 12.732 million compared to USD 11.733 million a year ago. Basic earnings per share from continuing operations was USD 1.26 compared to USD 1.16 a year ago.
Omega Flex, Inc. is a manufacturer of flexible metal hoses. The Companyâs flexible metal hose is used in a variety of applications to carry gases and liquids within their particular applications. These applications include carrying fuel gases within residential and commercial buildings; gasoline and diesel gasoline products (both above and below the ground) in a double containment piping to contain any possible leaks, which is used in automotive and marina refueling, and fueling for back-up generation; and medical gases in health care facilities. The Company's flexible gas piping products are sold under TracPipe and CounterStrike trademarks. Its products also include MediTrac corrugated medical gas tubing, DoubleTrac double-containment piping, and DEF-Trac flexible piping. The Company primarily sells its products through distributors, wholesalers and to original equipment manufacturers (OEMs) throughout North America and Europe, and other global markets.
OMEGA FLEX, INC. 
