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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net Sales $ 21,818 $ 26,809 $ 47,084 $ 53,597
Cost of Goods Sold 8,556 10,073 18,053 19,915
Gross Profit 13,262 16,736 29,031 33,682
Selling Expense 3,503 4,300 8,054 8,810
General and Administrative Expense 3,852 6,140 8,105 11,644
Engineering Expense 1,021 1,152 2,141 2,493
Operating Profit 4,886 5,144 10,731 10,735
Interest Income (Expense) (97) 236 (52) 456
Other Income (Expense) (23) (33) (131) 5
Income Before Income Taxes 4,766 5,347 10,548 11,196
Income Tax Expense 1,196 1,325 2,612 2,743
Net Income 3,570 4,022 7,936 8,453
Less: Net (Income) Loss attributable to the Noncontrolling Interest 1 (39) (21) (88)
Net Income attributable to Omega Flex, Inc. $ 3,571 $ 3,983 $ 7,915 $ 8,365
Basic and Diluted Earnings per Common Share $ 0.35 $ 0.39 $ 0.78 $ 0.83
Cash Dividends Declared per Common Share $ 0.28 $ 0.52 $ 0.56 $ 0.52
Basic and Diluted Weighted Average Shares Outstanding 10,094,322 10,092,124 10,094,322 10,091,973