Omega Flex(OFLX)

Search documents
Omega Flex, Inc. Announces Regular Quarterly Dividend for the Second Quarter 2024
Newsfilter· 2024-06-13 20:30
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]
Omega Flex(OFLX) - 2024 Q1 - Quarterly Report
2024-05-03 16:00
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 ...
Omega Flex(OFLX) - 2024 Q1 - Quarterly Results
2024-05-01 20:01
Financial Results - Omega Flex, Inc. reported its financial results for the three months ended March 31, 2024[3]. - The earnings release was issued on May 1, 2024, detailing the company's performance[3]. - The report includes a cover page interactive data file embedded within the Inline XBRL document[5]. - The press release is attached as Exhibit 99.1, providing detailed financial data[5]. Regulatory Information - The report is not deemed "filed" under the Securities Exchange Act of 1934, ensuring it is treated as "furnished" information[4]. - The company has not indicated if it is an emerging growth company[2]. Company Information - The company is listed on the NASDAQ Global Market under the trading symbol OFLX[2]. - The Chief Executive Officer, Dean W. Rivest, signed the report on May 1, 2024[9]. Performance Metrics - There are no specific performance metrics or financial figures disclosed in the provided content[3]. - The document does not include any information on future outlook, new products, or market expansion strategies[3].
Omega Flex(OFLX) - 2023 Q4 - Annual Report
2024-03-11 21:15
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 ...
Omega Flex(OFLX) - 2023 Q4 - Annual Results
2024-03-06 21:01
Financial Results - Omega Flex, Inc. reported its financial results for the twelve months and three months ended December 31, 2023[4] - The earnings release was issued on March 6, 2024, detailing the company's performance[4] - The report includes key financial metrics, although specific figures are not provided in the extracted content[4]
Omega Flex(OFLX) - 2023 Q3 - Quarterly Report
2023-11-03 16:00
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 ...
Omega Flex(OFLX) - 2023 Q2 - Quarterly Report
2023-08-04 19:00
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 ...
Omega Flex(OFLX) - 2023 Q1 - Quarterly Report
2023-05-05 15:46
FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (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, 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) Penns ...
Omega Flex(OFLX) - 2022 Q4 - Annual Report
2023-03-10 21:15
Financial Performance - Net Sales for 2022 were $125,487,000, a decrease of $4,524,000 (3.5%) compared to $130,011,000 in 2021, primarily due to a decrease in unit volume[113] - Gross Profit margin for 2022 was 62.4%, slightly down from 62.7% in 2021, maintained despite rising material costs through price increases[114] - Operating Profit decreased by $4,046,000 (11.5%) to $31,016,000 in 2022 compared to $35,062,000 in 2021[118] - Retained earnings increased by $10,901,000 (21.8%) to $60,954,000 as of December 31, 2022, driven by net income growth[112] - Cash provided from operating activities decreased to $15,246,000 in 2022 from $25,149,000 in 2021, illustrating a decrease of $9,903,000[137] Cash and Liquidity - The company's cash balance increased by $4,790,000 (14.6%) to $37,703,000 as of December 31, 2022, primarily due to income generated from operations[104] - As of December 31, 2022, the Company had a cash balance of $37,703,000 and a $15,000,000 line of credit with no borrowings against it[135] - Cash used in investing activities was $942,000 in 2022, compared to $971,000 in 2021 and $564,000 in 2020, all related to capital expenditure projects[139] - Dividend payments amounted to $9,489,000 in 2022, down from $14,867,000 in 2021 and $11,306,000 in 2020[140] Accounts and Inventory Management - Accounts Receivable decreased by $3,223,000 (15.6%) to $17,503,000 as of December 31, 2022, attributed to greater cash collections from higher sales in the previous year's fourth quarter[105] - Inventory increased by $2,199,000 (14.1%) to $17,764,000 as of December 31, 2022, due to purchases made to ensure material availability amid supply chain challenges[106] Tax and Interest - Income tax expense decreased by $1,535,000 (17.3%) to $7,327,000 in 2022, with an effective tax rate of approximately 24%[121] - Interest income rose to $174,000 in 2022 from $35,000 in 2021, reflecting higher interest rates[119] - Income tax expense increased by $2,268,000 or 34.4% from 2020 to 2021, totaling $8,862,000 for 2021, with an effective tax rate of approximately 25% for both years[131] Obligations and Impairment - The Company's total contractual obligations as of December 31, 2022, were $16,755,000, including operating lease obligations of $447,000 and purchase obligations of $16,137,000[144] - The Company performed an annual goodwill impairment test as of December 31, 2022, which did not indicate any impairment, as the estimated fair value exceeded carrying value[152] Accounting Policies and Risk Management - The Company adopted ASU 2019-12, which did not have a material impact on its Consolidated Financial Statements[161] - The Company maintains allowances for credit losses based on historical loss experience and current market conditions, which could materially affect net earnings[150] - The Company does not engage in the purchase or trading of market risk sensitive instruments[162] - The Company does not have any positions with respect to hedge transactions such as forward contracts relating to currency fluctuations[162] - No market risk sensitive instruments are held for speculative or trading purposes[162] Expenses - Engineering expenses increased by $123,000 (2.7%) to $4,733,000 in 2022, representing 3.8% of net sales[117]
Omega Flex(OFLX) - 2022 Q3 - Quarterly Report
2022-11-07 20:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Exact name of registrant as specified in its charter) Pennsylvania 23-1948942 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 September 30, 2022 ☐ 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- ...