EXTON, Pa., July 21, 2010 (GLOBE NEWSWIRE) -- Omega Flex (Nasdaq:OFLX) today reported its results of operations for the Second Quarter, 2010:
|OMEGA FLEX, INC. (OFLX)||EARNINGS DIGEST|
|Three Months Ended June 30:||2010||2009|
|Earnings per share - basic and diluted||$0.07||$0.06|
|Weighted average shares - basic and diluted||10,091,822||10,091,822|
|Six Months Ended June 30:||2010||2009|
|Earnings per share - basic and diluted||$0.17||$0.10|
|Weighted average shares - basic and diluted||10,091,822||10,092,579|
Kevin R. Hoben , President and CEO, indicated the Company's 2 nd quarter 2010 Revenues improved $591,000 (5.8%) from Revenues in the 2 nd quarter 2009, and Net Income also increased modestly by $21,000 (3.3%) over the same period. Regarding the six-month results, Revenues were $2,189,000 (10.8%) above Revenues in the same period in 2009 and Net Income in 2010 increased $704,000 (68.2%) over the same period.
The increase in Revenue and Net Income for the six-months ended June 30, 2010, demonstrates a rise in customer demand for the Company's proprietary products, which has aided the Company's efforts to generate profits in a soft construction environment.