Omega Flex

Omega Flex, Inc. engages in the manufacture and sale of flexible metal hose and accessories. It offers products to numerous industries, such as steel production, fuel-handling, semiconductor, medical, pharmaceutical, petrochemical, residential and commercial construction, and power generation. Its products include TracPipe CounterStrike, DoubleTrac, Def-Trac, industrial, and Meditrac. The company was founded in 1975 and is headquartered in Exton, PA.

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EXTON. Pa., April 19, 2023 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that Net Income of Omega Flex, Inc. (the “Company” or “Omega Flex”) was $5,742,000 for the first quarter of 2023 versus $5,451,000 during the same period last year, increasing $291,000 or 5.3%.  In contrast to the first quarter of last year, Net Income for the first quarter of 2023 improved mainly due to stronger gross profit because of the lower cost of certain raw materials.  Net Sales for the first quarter of 2023 were $29,987,000 compared to $31,293,000 during the first quarter of last year, decreasing $1,306,000 or 4.2%, mainly due to lower sales unit volumes as a result of the overall market being suppressed because of, among other factors, a decline in housing starts. Despite the challenging marketplace, management believes it has indications that it maintained or slightly improved its market share during the first quarter of 2023.

Omega Flex, Inc. Announces First Quarter 2023 Earnings

EXTON, Pa., March 28, 2023 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.32 per share payable on April 24, 2023, to shareholders of record on April 10, 2023. In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the First Quarter 2023

EXTON, Pa., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that the Company's net sales for 2022 and 2021 were $125,487,000 and $130,011,000, respectively, decreasing 3.5%. Net Sales for the three months ended December 31, 2022 were 13.1% lower than the fourth quarter of 2021. While net sales are lower than the previous periods, sales unit volumes decreased at a higher rate. The effect of the lower sales volumes was largely offset by pricing actions to offset material cost pressure and to protect margins.

Omega Flex, Inc. Announces Fourth Quarter 2022 Earnings

Omega focuses on the production and distribution of flexible metal hoses that are mainly used for the transport of gases and other liquids that require high-security transport systems. Omega's revenue is well diversified. According to the annual report, the company currently estimates that it has around 10k active clients internationally.

Omega Flex: More Engineering Expenses And Undervalued

EXTON, Pa., Dec. 07, 2022 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.32 per share payable on January 4, 2023, to shareholders of record on December 19, 2022. Kevin R. Hoben, the Company's chairman stated that: “The commitment of Omega Flex, Inc. to its shareholders is reflected in part by the payment of this regular quarterly dividend. As the Company continues to weather these challenging times for the country and the economy, this dividend is the best indication of our belief in the Company's ability to succeed.” In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Fourth Quarter 2022

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EXTON, Pa., Oct. 20, 2022 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that the Company's Net Sales for the first nine months of 2022 and 2021 were $94,670,000 and $94,554,000, respectively, increasing $116,000 or 0.1%.  Net Sales for the three months ended September 30, 2022 were 0.3% lower than the third quarter of 2021.   Although net sales are consistent with the previous periods, sales unit volumes were lower.  The effect of the lower sales volumes was largely offset by pricing actions to offset material cost pressure and to protect margins.

Omega Flex, Inc. Announces Third Quarter Earnings

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EXTON, Pa., Sept. 30, 2022 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.32 per share payable on October 24, 2022, to shareholders of record on October 12, 2022.   Kevin R. Hoben, the Company's chairman stated that: “The commitment of Omega Flex, Inc. to its shareholders is reflected in part by the payment of this regular quarterly dividend. As the Company continues to weather these challenging times for the country and the economy, this dividend is the best indication of our belief in the Company's ability to succeed.” In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Third Quarter 2022

EXTON, Pa., July 21, 2022 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that the Company's Net Sales for the first six months of 2022 and 2021 were $63,041,000 and $62,829,000, respectively, increasing $212,000 or 0.3%.  Net Sales for the three months ended June 30, 2022 were 0.7% lower than the second quarter of 2021.

Omega Flex, Inc. Announces Second Quarter Earnings

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This article series provides a weekly summary of dividend changes. A summary table provides relevant data and key statistics on dividend increases.

Dividend Increases: June 4-10, 2022

EXTON, Pa., June 10, 2022 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.32 per share payable on July 5, 2022, to shareholders of record on June 24, 2022. Kevin R. Hoben, the Company's chairman stated that: “The sustained growth of Omega Flex, Inc. recommended an increase in the regular quarterly dividend. As the Company emerges from this challenging time for the country and the economy, this increase is the best indication of our belief in the Company's ability to weather this storm.” In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Second Quarter 2022

EXTON, Pa., June 01, 2022 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that Mark F. Albino, its chief operating officer, is retiring after 26 years of service to the Company. Mr. Albino was instrumental in the strength and growth of the Company during those 26 years, from his invention of the AutoFlare® fitting, to the expansion of its business in Europe, and the expansion of the Company's businesses to new products, including DoubleTrac® double-containment piping and MediTrac® flexible medical gas piping. Mr. Albino will be retiring as of May 31, 2022, but will continue to serve in his role as a director of the Company.

Omega Flex, Inc. Announces Organizational Changes

EXTON, Pa., April 21, 2022 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that the Company's Net Sales for the first quarter of 2022 were $31,293,000 compared to $30,863,000 during the first quarter of last year, increasing $430,000 or 1.4%. Net Income was $5,451,000 for the first three months of 2022 versus $6,267,000 during the same period last year, decreasing $816,000 or 13.0%.   In contrast to the first quarter of last year which was the strongest first quarter on record, current quarter performance was challenged by the rising cost environment, mainly for certain raw materials and freight, which is expected to be overcome by the timing of the impact of selling price increases.

Omega Flex, Inc. Announces First Quarter 2022 Earnings

EXTON, Pa., April 06, 2022 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that Bruce C. Klink, a Class 2 director, has decided not to stand for re-election to the board of directors, and will complete his term on the Board at the conclusion of the Company's 2022 annual meeting of stockholders. Mr. Klink's decision to not stand for re-election was not because of a disagreement with the Company on any matter relating to the Company's operations, policies, or practices. The Company thanks Mr. Klink for his 26 years of service as a director and wishes him well.

Omega Flex, Inc. Announces Departure of a Director: Bruce C. Klink

EXTON, Pa., March 29, 2022 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.30 per share payable on April 25, 2022, to shareholders of record on April 11, 2022. Kevin R. Hoben, the Company's chairman stated that: “The commitment of Omega Flex, Inc. to its shareholders is reflected in part by the payment of this regular quarterly dividend. As the Company continues to emerge from this challenging time for the country and the economy, this dividend is the best indication of our belief in the Company's ability to weather this storm.” In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the First Quarter 2022

EXTON, Pa, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that the Company's net sales for 2021 and 2020 were $130,011,000 and $105,796,000, respectively, increasing 22.9%.

Omega Flex, Inc. Announces Fourth Quarter 2021 Earnings

EXTON, Pa., Dec. 09, 2021 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.30 per share payable on December 30, 2021, to shareholders of record on December 21, 2021. Kevin R. Hoben, the Company's chairman stated that: “The commitment of Omega Flex, Inc. to its shareholders is reflected in part by the payment of this regular quarterly dividend. As the Company continues to emerge from this challenging time for the country and the economy, this dividend is the best indication of our belief in the Company's ability to weather this storm.” In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Fourth Quarter 2021

EXTON, Pa., Sept. 15, 2021 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.30 per share payable on October 4, 2021 to shareholders of record on September 27, 2021. Kevin R. Hoben, the Company's chairman stated that: “The commitment of Omega Flex, Inc. to its shareholders is reflected in part by the payment of this regular quarterly dividend. As the Company continues to emerge from this challenging time for the country and the economy, this dividend is the best indication of our belief in the Company's ability to weather this storm.” In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Third Quarter 2021

EXTON, Pa., June 09, 2021 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.30 per share payable on July 6, 2021 to shareholders of record on June 22, 2021. Kevin R. Hoben, the Company's chairman, stated that: “Due to the continued growth of Omega Flex, Inc., an increase in the regular quarterly dividend is appropriate. As the Company emerges from this challenging time for the country and the economy, this increase is the best indication of our belief in the Company's ability to weather this storm.” In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Second Quarter 2021

EXTON, Pa., April 21, 2021 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that the Company's Net Sales for the first quarter of 2021 were $30,863,000 compared to $25,266,000 during the first quarter of last year, increasing $5,597,000 or 22.2%. Net Income was $6,267,000 for the first three months of 2021 versus $4,344,000 during the same period last year, increasing $1,923,000 or 44.3%.   In contrast to the first quarter of last year which was impeded by the pandemic, the first quarter of 2021 reflects the Company's best first quarter on record.

Omega Flex, Inc. Announces First Quarter 2021 Earnings

EXTON, Pa., March 24, 2021 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ:OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.28 per share payable on April 14, 2021 to shareholders of record on April 5, 2021.   Kevin R. Hoben, the Company's chairman stated that: “The commitment to maintain the regular quarterly dividend at this challenging time for the country and the economy is the best indication of our belief in the Company's ability to weather this storm.” In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the First Quarter 2021

EXTON, Pa., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that the Company's net sales for 2020 and 2019 were $105,796,000 and $111,360,000, respectively, decreasing 5.0%.

Omega Flex, Inc. Announces Fourth Quarter 2020 Earnings

EXTON, Pa., Dec. 11, 2020 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.28 per share payable on January 5, 2021 to shareholders of record on December 21, 2020.   Kevin R. Hoben, the Company's chairman stated that: “The commitment to maintain the regular quarterly dividend at the current rate in this challenging time for the country and the economy is the best indication of our belief in the Company's ability to weather this storm.” In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Quarter Ending December 31, 2020

News for Omega Flex Stock (OFLX)