Omega Flex, Inc. Announces Third Quarter 2020 Earnings

EXTON, Pa., Oct. 15, 2020 (GLOBE NEWSWIRE) -- Omega Flex today reported its results of operations for the Third Quarter, 2020:

	OMEGA FLEX, INC. (OFLX)
	Nine Months Ended September 30,							Three Months Ended September 30,
	2020				2019			2020			2019
Net Sales	$74,171,000				$81,627,000			$27,087,000			$28,030,000
Net Income attributable to Omega Flex, Inc.	$12,732,000				$11,733,000			$4,817,000			$3,368,000
Earnings Per Share –
Basic and Diluted	$1.26				$1.16			$0.48			$0.33
Weighted Average Shares –
Basic and Diluted		10,094,322				10,092,756			10,094,322			10,094,322

Kevin R. Hoben, Chairman and CEO, announced that the Company’s net sales for the first nine months of 2020 and 2019 were $74,171,000 and $81,627,000, respectively, decreasing 9.1%.  Net sales for the three months ended September 30, 2020 were 3.4% lower than the third quarter of 2019.