XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Net Sales $ 25,835 $ 31,748 $ 55,822 $ 63,041
Cost of Goods Sold 10,035 10,955 21,394 23,133
Gross Profit 15,800 20,793 34,428 39,908
Selling Expense 4,999 5,501 10,572 11,284
General and Administrative Expense 4,373 6,753 9,167 11,503
Engineering Expense 907 1,197 1,862 2,413
Operating Profit 5,521 7,342 12,827 14,708
Interest Income 396 11 677 20
Other Income (Expense) 24 (138) 55 (164)
Income Before Income Taxes 5,941 7,215 13,559 14,564
Income Tax Expense 1,391 1,755 3,268 3,634
Net Income 4,550 5,460 10,291 10,930
Less: Net Loss (Income) attributable to the Noncontrolling Interest 6 (10) 7 (29)
Net Income attributable to Omega Flex, Inc. $ 4,556 $ 5,450 $ 10,298 $ 10,901
Earnings per Common Share, Basic $ 0.45 $ 0.54 $ 1.02 $ 1.08
Earnings per Common Share, Diluted 0.45 0.54 1.02 1.08
Cash Dividends Declared per Common Share $ 0.33 $ 0.32 $ 0.65 $ 0.62
Weighted Average Shares Outstanding, Basic 10,094 10,094 10,094 10,094
Weighted Average Shares Outstanding, Diluted 10,094 10,094 10,094 10,094