Omega Flex Inc Price, Forecast, Insider, Ratings, Fundamentals & Signals

Exton, pa., april 09, 2024 (globe newswire) -- omega flex, inc. (the “company”) (nasdaq: oflx) today announces that that our board of directors elected stephen m. shea as a director. mr. shea has been designated as a class 2 director, and he will have a term expiring at the 2025 annual shareholder meeting. he will serve on our audit committee.

Exton, pa., april 05, 2024 (globe newswire) -- omega flex, inc. (the “company”) (nasdaq: oflx) today announces that derek w. glanvill, a class 2 director, has resigned from the board of directors of the company, effective april 4, 2024. the company thanks mr. glanvill for his service as a director and wishes him well.

Exton, pa., march 28, 2024 (globe newswire) -- omega flex, inc. (the “company”) (nasdaq: oflx) today announced that the board of directors declared a regular quarterly dividend of $0.33 per share payable on april 24, 2024, to shareholders of record on april 10, 2024. 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.

Exton, pa., march 06, 2024 (globe newswire) -- dean w. rivest, ceo, announced that net sales of omega flex, inc. (the “company” or “omega flex”) for 2023 and 2022 were $111,465,000 and $125,487,000, respectively, decreasing 11.2%.  net sales for the fourth quarter of 2023 were 8.7% lower than during the same period in 2022.   the decrease in net sales was mainly due to lower sales unit volumes as a result of the overall market continuing to be suppressed because of, among other factors, a decline in housing starts.

Exton, pa., dec. 27, 2023 (globe newswire) -- we are pleased to announce that on december 7, 2023, on the recommendation of our nominating/governance committee, effective january 1, 2024, our board of directors unanimously elected edwin b. moran as a class 2 director of omega flex, inc., with a term expiring at the 2025 annual meeting of shareholders, and dean w. rivest as a class 3 director, with a term expiring at the 2026 annual meeting of shareholders.

Revenues increased in Q3 2023 after four quarters of consecutive declines. Margins also improved, and the company is highly profitable. The balance sheet is very robust and the company is debt-free.

Omega Flex is a leader in flexible metal hoses and piping. As dry as that sounds, its profitability and dividends prove far more exciting.

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.

Throughout much of the new normal, the concept of short-squeeze stocks took off like wildfire. Essentially, this tactic centers on taking a contrarian bet against bearish traders in Wall Street's version of playing chicken.

Investors may want to target small-cap stocks to buy. Understandably, smaller and therefore less-proven enterprises present higher risks, which is why some folks avoid the sector.

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.

EXTON, Pa., July 16, 2021 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that the Company's Net Sales for the first six months of 2021 and 2020 were $62,829,000 and $47,084,000, respectively, increasing $15,745,000 or 33.4%.  Net Sales for the three months ended June 30, 2021 were 46.5% higher than the second quarter of 2020.

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.

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.

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.