Omega Flex, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 03, 2023 at 12:00 pm EDT
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Omega Flex, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 27.5 million compared to USD 31.63 million a year ago. Net income was USD 5.58 million compared to USD 6.54 million a year ago. Basic earnings per share from continuing operations was USD 0.55 compared to USD 0.65 a year ago.
For the nine months, sales was USD 83.32 million compared to USD 94.67 million a year ago. Net income was USD 15.87 million compared to USD 17.44 million a year ago. Basic earnings per share from continuing operations was USD 1.57 compared to USD 1.73 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. 
