XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Net Sales $ 27,496 $ 31,629 $ 83,318 $ 94,670
Cost of Goods Sold 10,549 11,872 31,943 35,005
Gross Profit 16,947 19,757 51,375 59,665
Selling Expense 5,059 5,261 15,631 16,545
General and Administrative Expense 4,037 4,754 13,204 16,257
Engineering Expense 992 1,101 2,854 3,514
Operating Profit 6,859 8,641 19,686 23,349
Interest Income 502 32 1,179 52
Other (Expense) Income (41) (210) 14 (374)
Income Before Income Taxes 7,320 8,463 20,879 23,027
Income Tax Expense 1,746 1,924 5,014 5,558
Net Income 5,574 6,539 15,865 17,469
Less: Net Loss (Income) attributable to the Noncontrolling Interest 2 1 9 (28)
Net Income attributable to Omega Flex, Inc. $ 5,576 $ 6,540 $ 15,874 $ 17,441
Earnings per Common Share, Basic $ 0.55 $ 0.65 $ 1.57 $ 1.73
Earnings per Common Share, Diluted 0.55 0.65 1.57 1.73
Cash Dividends Declared per Common Share $ 0.33 $ 0.32 $ 0.98 $ 0.94
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