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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Net Sales $ 31,629 $ 31,725 $ 94,670 $ 94,554
Cost of Goods Sold 11,872 11,686 35,005 35,258
Gross Profit 19,757 20,039 59,665 59,296
Selling Expense 5,261 4,876 16,545 14,625
General and Administrative Expense 4,754 5,724 16,257 16,281
Engineering Expense 1,101 1,113 3,514 3,326
Operating Profit 8,641 8,326 23,349 25,064
Interest Income 32 10 52 27
Other Income (Expense) (210) (19) (374) 6
Income Before Income Taxes 8,463 8,317 23,027 25,097
Income Tax Expense 1,924 2,160 5,558 6,441
Net Income 6,539 6,157 17,469 18,656
Less: Net (Income) Loss attributable to the Noncontrolling Interest 1 (9) (28) (57)
Net Income attributable to Omega Flex, Inc. $ 6,540 $ 6,148 $ 17,441 $ 18,599
Basic and Diluted Earnings per Common Share $ 0.65 $ 0.61 $ 1.73 $ 1.84
Cash Dividends Declared per Common Share $ 0.32 $ 0.30 $ 0.94 $ 0.88
Basic and Diluted Weighted Average Shares Outstanding 10,094 10,094 10,094 10,094