Trade Omega Flex Inc - OFLX CFD

Omega Flex Company profile

About Omega Flex, Inc.

Omega Flex, Inc. is a manufacturer of flexible metal hose. The Company is engaged in a range of different markets, including construction, manufacturing, transportation, petrochemical, pharmaceutical and other industries. It operates through manufacture and sale of flexible metal hose, fittings, and accessories segment. The Company's products are used in residential and commercial construction, and general industrial markets. Its primary product, flexible gas piping, is used for gas piping within residential and commercial buildings. The Company's TracPipe and TracPipe CounterStrike flexible gas piping, along with its fittings, which are distributed under AutoSnap and AutoFlare names. Its product line MediTrac , which is a medical tubing used for piping medical gases (oxygen, nitrogen, nitrous oxide, carbon dioxide, and medical vacuum) in health care facilities.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Omega Flex, Inc. revenues increased 23% to $130M. Net income increased 32% to $26.2M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Other Income (Expense) increase from $53K (expense) to $21K (income). Dividend per share increased from $1.12 to $1.18.

Equity composition

Common Stock $.01 Par, 04/11, 20M auth., 10,153,633 issd., Less 61,811 shs. in Treas. @ $1K. Insiders control approx. 68.88%.