Financial Performance - Net sales for Q2 2024 were $24,620,000, a decrease of 4.7% compared to $25,835,000 in Q2 2023[9] - Gross profit for Q2 2024 was $15,222,000, down from $15,800,000 in Q2 2023, reflecting a gross margin of 61.8%[9] - Operating profit for the first half of 2024 was $10,341,000, compared to $12,827,000 in the same period of 2023, indicating a decline of 19.4%[9] - Net income for Q2 2024 was $4,474,000, slightly down from $4,550,000 in Q2 2023, resulting in basic and diluted earnings per share of $0.45[9] - Net income was $8,674,000, a decrease from $10,291,000 in the same period of 2023, representing a decline of approximately 15.7%[15] - Net sales for the first six months of 2024 were $49,836,000, a decrease of $5,986,000 or 10.7% compared to $55,822,000 in the first six months of 2023[93] Assets and Liabilities - Total current assets decreased to $76,481,000 as of June 30, 2024, from $80,188,000 at the end of 2023[8] - Total liabilities reduced to $18,860,000 as of June 30, 2024, down from $21,382,000 at the end of 2023[8] - The total shareholders' equity as of June 30, 2024, was $80,763,000, an increase from $78,852,000 at the end of 2023[8] - Cash and cash equivalents at the end of the period were $45,705,000, down from $46,356,000 at the beginning of the period, showing a decrease of about 1.4%[15] - The reserve for credit losses was $774,000 as of June 30, 2024, down from $1,126,000 as of December 31, 2023[32] Earnings and Dividends - Cash dividends declared per common share increased to $0.34 in Q2 2024, up from $0.33 in Q2 2023[9] - The company declared dividends totaling $6,763,000 for the six months ended June 30, 2024, compared to $6,561,000 in the same period of 2023, indicating an increase of approximately 3.1%[15] - Retained earnings increased to $70,445,000 as of June 30, 2024, compared to $68,493,000 at the end of 2023[8] - Retained earnings increased by $1,952,000 (2.8%) to $70,445,000 as of June 30, 2024, driven by net income[87] Expenses - Selling expenses decreased by $125,000 (2.5%) to $4,874,000 in Q2 2024, primarily due to lower sales commissions[89] - General and administrative expenses decreased by $292,000 or 6.7% to $4,081,000 for the quarter ended June 30, 2024, compared to $4,373,000 in the same quarter of 2023[90] - General and administrative expenses for the six months ended June 30, 2024, were $7,839,000, down $1,328,000 or 14.5% from $9,167,000 in 2023[96] - Engineering expenses increased by $77,000 or 8.5% to $984,000 for the quarter ended June 30, 2024, with engineering expenses as a percentage of sales rising to 4.0% from 3.5%[91] Cash Flow - Net cash provided by operating activities for the six months ended June 30, 2024, was $7,107,000, compared to $9,457,000 in the same period of 2023, a decline of approximately 25%[15] - The cash balance decreased by $651,000 (1.4%) to $45,705,000 as of June 30, 2024, primarily due to dividend payments of $6,663,000[86] Inventory and Assets Management - As of June 30, 2024, inventories net of reserves were $15,932,000, an increase from $15,597,000 as of December 31, 2023, with finished goods at $7,113,000 and raw materials at $8,819,000[56] - The Company maintains inventories estimated to be used beyond the next twelve months, primarily for corrugated medical tubing products, totaling $1,000,000 as of June 30, 2024[57] Compliance and Governance - The report includes certifications from the Chief Executive Officer and Chief Financial Officer[114] - The company has filed its report in compliance with the Securities Exchange Act of 1934[115] - The report was signed by Matthew F. Unger, Vice President – Finance, Chief Financial Officer, and Assistant Secretary[116]

Core Insights - Omega Flex, Inc. reported stable earnings per share (EPS) of 45 cents for Q2 2024, unchanged from Q2 2023, despite a decline in net sales [1] - For the first half of 2024, EPS decreased to 86 cents from $1.02 in the same period of 2023, with net sales dropping by 10.7% to $49.8 million [2] Quarterly Performance Overview - The company's performance in Q2 2024 faced challenges due to reduced sales unit volumes, attributed to a decline in housing starts, leading to a 15.4% decrease in net income for the first six months to $8.7 million [3] - Net income for Q2 2024 slightly decreased by 1.3% to $4.5 million compared to $4.6 million in Q2 2023 [3] Cost Management Strategies - Omega Flex implemented effective cost management strategies to partially offset the impact of lower sales and production volumes, including reductions in raw material costs and operational expenses [4] - The company reduced expenses related to executive incentives, stock-based compensation, product liability reserves, marketing commissions, and freight costs [4] Tax and Interest Income Benefits - The company benefited from a lower provision for income taxes and higher interest income during the quarter, which helped mitigate some negative impacts on net income [5]

Financial Results - Omega Flex, Inc. reported its financial results for the six months and three months ended June 30, 2024[3] - The earnings release was issued on July 31, 2024, detailing the company's performance[3] Company Information - The company is listed on the NASDAQ Global Market under the trading symbol OFLX[1] - The report is not intended to be filed under the Securities Act of 1933 or the Exchange Act[3] - The Chief Executive Officer of Omega Flex, Dean W. Rivest, signed the report[5]

Core Points - Omega Flex, Inc. announced a regular quarterly dividend of $0.34 per share, payable on July 10, 2024, to shareholders of record on June 26, 2024 [2] - The Board of Directors will review the cash needs of the company and consider various factors such as operational results, financial condition, capital expenditure plans, and potential acquisitions when determining future dividends [2] Financial Information - The declared dividend amount is $0.34 per share [2] - The payment date for the dividend is set for July 10, 2024 [2] - Shareholders must be on record by June 26, 2024, to receive the dividend [2]

Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________________ to ______________________ Commission file number 000-51372 Omega Flex, Inc. (Exact name of registrant as specified in its charter) Penns ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 1, 2024 OMEGA FLEX, INC. (Exact name of registrant as specified in charter) Pennsylvania 000-51372 23-1948942 (State or other jurisdiction of (Commission (I.R.S. Employer incorporation) File Number) Identification No.) 451 Creamery Way Exton, Pennsylvania 19341 (Address of Principal Executive ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Washington, D.C. 20549 FORM 10-K For the transition period from ________________________ to ______________________ Commission file number 000-51372 Omega Flex, Inc. (Exact name of registrant as specified in its charter) Pennsyl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 6, 2024 OMEGA FLEX, INC. (Exact name of registrant as specified in charter) Pennsylvania 000-51372 23-1948942 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 451 Creamery Way Exton, Pennsylvania 19341 (Address of Principal Executi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Omega Flex, Inc. (Exact name of registrant as specified in its charter) Pennsylvania 23-1948942 (State or other jurisdiction of incorporation or organization) (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fro ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to__________________ Commission File Number 000-51372 Omega Flex, Inc. (Exact name of registrant as specified in its charter) Pennsylvania 23-19 ...