Omega Flex Q2 Sales Down Slightly

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Flexible metal hose and braid products supplier Omega Flex Inc. reported slightly lower sales in its latest fiscal quarter.

Net sales for the second quarter of the year were down 0.7% compared to the same period last year, according to a statement from Omega Flex Chairman and CEO Kevin Hoben. Net income was down nearly 12% over that span.

For the first six months of the year, net sales were up 0.3% over the first half of 2021 but net income was down 12.4%. Hoben noted that the first two quarters of last year were the company's strongest on record and that the latest results were affected in part by resumed travel costs and marketing efforts in the wake of the pandemic.

The company also saw an impact from higher product liability reserves and expenses.

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