OmegaFlex of Exton reported improved financial results for the first quarter of 2014 despite stalled construction projects due to bad winter weather.

Kevin R. Hoben, president and chief executive officer, reported net sales for the first quarter of 2014 were $16,589,000, up 1.3 percent over the same time last year. The company’s net income for the first three months of 2014 was $2,195,000 compared to $1,582,000 in the same quarter last year – an increase of 38.8 percent. The company was able to expand its bottom line through improved international operations, curtailing expenses, and modest price enhancements.

During the first quarter the company also released its new AutoSnap® fitting for use with its TracPipe® CounterStrike® flexible gas piping system. The patent-pending design greatly simplifies the installation process adding to overall utility. OmegaFlex has been awarded several other patents for similar devices which provide broad technical protection against potential future competitive offerings.

Hoben said the firm anticipates gaining continued market share from the continued rollout of the AutoSnap fitting.

Omegaflex is an international producer of flexible metallic piping products with more than 200 patents registered worldwide. The firm supplies a number of markets including steel production, semi-conductor, medical, pharmaceutical, petrochemical, residential and commercial construction and power generation. Omegaflex is located at 451 Creamery Way in Exton.

Links: www.omegaflexcorp.com