{"id":822224,"date":"2025-03-05T17:16:23","date_gmt":"2025-03-05T22:16:23","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/omega-flex-inc-announces-fourth-quarter-2024-earnings\/"},"modified":"2025-03-05T17:16:23","modified_gmt":"2025-03-05T22:16:23","slug":"omega-flex-inc-announces-fourth-quarter-2024-earnings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/omega-flex-inc-announces-fourth-quarter-2024-earnings\/","title":{"rendered":"Omega Flex, Inc. Announces Fourth Quarter 2024 Earnings"},"content":{"rendered":"
\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n OMEGA FLEX, INC. (OFLX)<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Twelve Months Ended December 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Three Months Ended December 31, <\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2023<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2023<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Sales<\/td>\n$<\/td>\n101,681,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n111,465,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n26,965,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n28,147,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Income attributable to Omega Flex, Inc.<\/td>\n$<\/td>\n18,014,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,763,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4,682,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4,889,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Earnings Per Share \u2013\u00a0Basic and Diluted<\/td>\n$<\/td>\n1.78<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.48<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted Average Shares \u2013\u00a0Basic and Diluted<\/td>\n\u00a0<\/td>\n10,094,322<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,094,322<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,094,322<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,094,322<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

EXTON, Pa., March 05, 2025 (GLOBE NEWSWIRE) — Dean W. Rivest, CEO<\/strong>, announced that net sales of Omega Flex, Inc. (the \u201cCompany\u201d or \u201cOmega Flex\u201d)\u00a0(Nasdaq: OFLX) for 2024 and 2023 were $101,681,000 and $111,465,000, respectively, decreasing $9,784,000 or 8.8%. Net Sales for the fourth quarter of 2024 were 4.2% lower than during the same period in 2023. The decrease in net sales was mainly due to lower sales unit volumes as the overall market continued to be suppressed because of, among other factors, a decline in housing starts.<\/p>\n

The Company\u2019s net income for 2024 was $18,014,000, compared to $20,763,000 during 2023, decreasing $2,749,000 or 13.2%. Net income for the fourth quarter of 2024 was 4.2% below the same period in 2023. The decrease in net income for 2024 is mainly due to the decrease in net sales, higher salary related expenses and travel.\u00a0<\/p>\n

\n INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS \u2013 This press release contains forward-looking statements, which are subject to inherent uncertainties which are difficult to predict and may be beyond the ability of Omega Flex to control. Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform act of 1995 that are not historical facts, but rather reflect Omega Flex\u2019s current expectations concerning future results and events. The words \u201cbelieves,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201canticipates,\u201d \u201chopes,\u201d \u201clikely,\u201d \u201cwill,\u201d and similar expressions identify such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance, or achievements of Omega Flex (or entities in which Omega Flex has interests) or industry results, to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management\u2019s view only as of the date of this press release. Omega Flex undertakes no obligation to publicly release the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, conditions, or circumstances.<\/em>\n <\/p>\n

\n Contact: Dean W. Rivest<\/strong>
\n
\n (610) 524-7272<\/strong>\n <\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

\u00a0 OMEGA FLEX, INC. (OFLX) \u00a0 Twelve Months Ended December 31, \u00a0 Three Months Ended December 31, \u00a0 2024 \u00a0 2023 \u00a0 2024 \u00a0 \u00a0 2023 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Net Sales $ 101,681,000 \u00a0 \u00a0 $ 111,465,000 \u00a0 \u00a0 $ 26,965,000 \u00a0 \u00a0 $ 28,147,000 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Net Income attributable to Omega Flex, Inc. $ 18,014,000 \u00a0 \u00a0 $ 20,763,000 \u00a0 \u00a0 $ 4,682,000 \u00a0 \u00a0 $ 4,889,000 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Earnings Per Share \u2013\u00a0Basic and Diluted $ 1.78 \u00a0 \u00a0 $ 2.06 \u00a0 \u00a0 $ 0.46 \u00a0 \u00a0 $ 0.48 \u00a0 … <\/p>\n

Continue reading “Omega Flex, Inc. Announces Fourth Quarter 2024 Earnings”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-822224","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nOmega Flex, Inc. Announces Fourth Quarter 2024 Earnings - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/omega-flex-inc-announces-fourth-quarter-2024-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Omega Flex, Inc. Announces Fourth Quarter 2024 Earnings - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"\u00a0 OMEGA FLEX, INC. (OFLX) \u00a0 Twelve Months Ended December 31, \u00a0 Three Months Ended December 31, \u00a0 2024 \u00a0 2023 \u00a0 2024 \u00a0 \u00a0 2023 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Net Sales $ 101,681,000 \u00a0 \u00a0 $ 111,465,000 \u00a0 \u00a0 $ 26,965,000 \u00a0 \u00a0 $ 28,147,000 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Net Income attributable to Omega Flex, Inc. $ 18,014,000 \u00a0 \u00a0 $ 20,763,000 \u00a0 \u00a0 $ 4,682,000 \u00a0 \u00a0 $ 4,889,000 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Earnings Per Share \u2013\u00a0Basic and Diluted $ 1.78 \u00a0 \u00a0 $ 2.06 \u00a0 \u00a0 $ 0.46 \u00a0 \u00a0 $ 0.48 \u00a0 … Continue reading "Omega Flex, Inc. 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