Omega Flex Q4 net income falls on lower sales

Overview

• Flexible metal hose maker's Q4 net sales fell 6.5% yr/yr

• Q4 net income decreased 27.1% yr/yr due to lower sales and higher expenses

Outlook

• Omega Flex did not provide specific guidance for future quarters

Result Drivers

• LOWER SALES VOLUME - Co attributed decline in net sales to lower sales unit volumes due to a decrease in housing starts

• INCREASED EXPENSES - Co reported higher product development, certification, and consulting expenses contributing to lower net income

Company press release: ID:nGNXbMMxdw

Key Details

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