|   | UNITED STATES |
|--------|---------------|

| (   ) | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|----------------------|------------------------------------------------------------------------------------------|

|   | For the transition period from                                                                             to                                                                                  |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Pennsylvania                                                         | 23-1948942                           |
|----------------------------------------------------------------------|--------------------------------------|
|  (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 451 Creamery Way, Exton, PA                                          | 19341                                |
| (Address of principal executive offices)                             | (Zip Code)                           |

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| PART I - FINANCIAL INFORMATION                                                                                                 | Page No. |
|--------------------------------------------------------------------------------------------------------------------------------|----------|
|                                                                                                                           |     |
| Item 1 – Financial Statements                                                                                            |     |
|                                                                                                                           |     |
| Condensed consolidated balance sheets at March 31, 2011                                                                        |     |
|             and December 31, 2010 (unaudited)                      | 3        |
|                                                                                                                           |     |
| Condensed consolidated statements of operations for the                                                                        |     |
|             three-months ended March 31, 2011 and 2010 (unaudited) | 4        |
|                                                                                                                           |     |
| Condensed consolidated statements of cash flows for the                                                                        |     |
|             three-months ended March 31, 2011 and 2010 (unaudited) | 5        |
|                                                                                                                           |     |
| Notes to the condensed consolidated financial statements (unaudited)                                                           | 6        |
|                                                                                                                           |     |
| Item 2- Management's Discussion and Analysis of Financial Condition                                                            |     |
|             and Results of Operations                              | 14       |
|                                                                                                                           |     |
| Item 3 – Quantitative and Qualitative Information About Market Risks                                                     | 21       |
|                                                                                                                           |     |
| Item 4 – Controls and Procedures                                                                                         | 21       |
|                                                                                                                           |     |
| PART II - OTHER INFORMATION                                                                                                    |     |
|                                                                                                                           |     |
| Item 1 – Legal Proceedings                                                                                               | 22       |
|                                                                                                                           |     |
| Item 4 – Submission of Matter to a Vote of the Security Holders                                                          | 22       |
|                                                                                                                           |     |
| Item 6 - Exhibits                                                                                                              | 23       |
|                                                                                                                           |     |
| SIGNATURE                                                                                                                      | 24       |

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|                                                                                                                                                                                                                                                                                                                       | March 31,                                                       | December 31,                                                          |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------|-----------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                       | 2011                                                            | 2010                                                                  |
|                                                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
|                                                                                                                                                                                                                                                                                                                       | (Dollars in thousands)                                          |
| ASSETS                                                                                                                                                                                                                                                                                                                     |                                                            |                                                                  |
| Current Assets                                                                                                                                                                                                                                                                                                             |                                                            |                                                                  |
|      Cash and Cash Equivalents                                                                                                                                                                                                                                                                    | $1,191                                                          |   $2,209                                                    |
|      Accounts Receivable - less allowances of                                                                                                                                                                                                                                                     |                                                            |                                                                  |
|           $507 and $644, respectively                                                                                                                                                                                                                                    |   6,581                                               |     7,314                                         |
|      Inventories-Net                                                                                                                                                                                                                                                                              |   6,860                                               |     6,016                                         |
|      Deferred Taxes                                                                                                                                                                                                                                                                               |      915                               |        859                         |
|      Other Current Assets                                                                                                                                                                                                                                                                         |        589         |        644                         |
|                                                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
|      Total Current Assets                                                                                                                                                                                                                                                                         |   16,136                                    |   17,042                                                    |
|                                                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
| Property and Equipment - Net                                                                                                                                                                                                                                                                                               |    5,645                                         |     5,784                                         |
| Goodwill                                                                                                                                                                                                                                                                                                                   |    3,526                                         |     3,526                                         |
| Other Long Term Assets                                                                                                                                                                                                                                                                                                     |         746   |         706              |
|                                                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
|                Total Assets                                                                                                                                                                                                                     | $26,053                                                    | $27,058                                                               |
|                                                                                                                                                                                                                                                                                                                       | ======                                                          | ======                                                                |
| LIABILITIES AND SHAREHOLDERS' EQUITY                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
| Current Liabilities:                                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
|   Accounts Payable                                                                                                                                                                                                                                                                                               |      $746                              |      $856                                    |
|   Accrued Compensation                                                                                                                                                                                                                                                                                           |        523                   |     1,433                                         |
|   Accrued Commissions and Sales Incentives                                                                                                                                                                                                                                                                       |     1,297                                   |     2,410                                         |
|   Taxes Payable                                                                                                                                                                                                                                                                                                  |        430                   |        215                         |
|   Other Liabilities                                                                                                                                                                                                                                                                                              |     1,909                                   |     1,769                                         |
|                                                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
|                Total Current Liabilities                                                                                                                                                                                                        |     4,905                                   |     6,683                                         |
|                                                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
| Deferred Taxes                                                                                                                                                                                                                                                                                                             |     1,175                                   |     1,217                                         |
| Other Long Term Liabilities                                                                                                                                                                                                                                                                                                |        807                   |        892                         |
|                                                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
|                Total Liabilities                                                                                                                                                                                                                |    6,887                                         |     8,792                                         |
|                                                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
| Shareholders’ Equity:                                                                                                                                                                                                                                                                                                |                                                            |                                                                  |
| Omega Flex, Inc. Shareholders’ Equity:                                                                                                                                                                                                                                                                               |                                                            |                                                                  |
|    Common Stock – par value $0.01 Share: authorized 20,000,000 Shares:          10,153,633 shares issued and 10,091,822 outstanding at March 31, 2011         and December 31, 2010, respectively |       102                         |        102                         |
|    Treasury Stock                                                                                                                                                                                                                                                                                           |           (1) |            (1) |
|    Paid in Capital                                                                                                                                                                                                                                                                                          |  10,808                                                    |   10,808                                                    |
|    Retained Earnings                                                                                                                                                                                                                                                                                        |    8,569                                         |     7,750                                         |
|    Accumulated Other Comprehensive Loss                                                                                                                                                                                                                                                                     |        (435)                 |         (519)                 |
|                Total Omega Flex, Inc. Shareholders’ Equity                                                                                                                                                                                |    19,043                                        |    18,140                                                   |
|  Noncontrolling Interest                                                                                                                                                                                                                                                                                              |         123        |          126             |
|                                                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
|                Total Shareholders’ Equity                                                                                                                                                                                                 |    19,166                                        |     18,266                                   |
|                                                                                                                                                                                                                                                                                                                       |                                                            |                                                                  |
|                Total Liabilities and Shareholders’ Equity                                                                                                                                                                                 | $26,053                                                         |  $27,058                                                         |
|                                                                                                                                                                                                                                                                                                                       |   ======                                              | ======                                                                |

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|                                                                                                        | For the three-months ended March 31,                                |
|-------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------|
|                                                                                                        | 2011                                                                | 2010 |
|                                                                                                        | (Amounts in thousands, except earnings per Common Share)            |
|                                                                                                        |                                                                |   |
| Net Sales                                                                                                   | $11,498                                                             | $11,691 |
|                                                                                                        |                                                                |   |
| Cost of Goods Sold                                                                                          |     5,544                                       |     5,273 |
|                                                                                                        |                                                                |   |
|      Gross Profit                                                                  |     5,954                                       |     6,418 |
|                                                                                                        |                                                                |   |
| Selling Expense                                                                                             |     2,358                                       |     2,155 |
| General and Administrative Expense                                                                          |     1,744                                       |     1,959 |
| Engineering Expense                                                                                         |        588                       |        584 |
|                                                                                                        |                                                                |   |
| Operating Profit                                                                                            |     1,264                                       |     1,720 |
|                                                                                                        |                                                                |   |
| Interest Income (Expense), Net                                                                              |            2 |         ( 15) |
| Other Income (Expense), Net                                                                                 |          28                 |            (1) |
|                                                                                                        |                                                                |   |
| Income Before Income Taxes                                                                                  |     1,294                                       |     1,704 |
|                                                                                                        |                                                                |   |
| Income Tax Expense                                                                                          |        482                       |        638 |
|                                                                                                        |                                                                |   |
| Net Income                                                                                                  |      $812                                  |   $1,066 |
|      Less:  Loss attributable to the Noncontrolling Interest, net of tax |           7       |            9 |
|                                                                                                        |                                                                |   |
|      Net Income attributable to Omega Flex, Inc.                                   |     $819                                        |   $1,075 |
|                                                                                                        |  =====                                                         |  ===== |
| Basic Earnings per Common Share:                                                                            |                                                                |   |
|      Net Income                                                                    |    $0.08                                             |    $0.11 |
|                                                                                                        |                                                                |   |
|      Basic Weighted Average Shares Outstanding                                     |  10,092                                                        |  10,092 |
|                                                                                                        |                                                                |   |
| Diluted Earnings per Common Share:                                                                          |                                                                |   |
|      Net Income                                                                    |    $0.08                                             |    $0.11 |
|                                                                                                        |                                                                |   |
|      Diluted Weighted Average Shares Outstanding                                   |  10,092                                                        |  10,092 |
|                                                                                                        |                                                                |   |

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| For the three-months ended                      |
|----------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                     | March 31, |
|                                                                                                                                                     | 2011 | 2010 |
|                                                                                                                                                     |       (Dollars in thousands) |
| Cash Flows from Operating Activities:                                                                                                                    |   |   |
|    Net Income                                                                                                                             | $812 | $1,066 |
| Adjustments to Reconcile Net Income to                                                                                                                   |   |   |
|    Net Cash Provided By (Used In) Operating Activities:                                                                                   |   |   |
|         Non-Cash Compensation Expense                                                                            |     22 |       21 |
|         Depreciation and Amortization                                                                            |   160 |     165 |
|         Provision for Losses on Accounts Receivable, net of write-offs and recoveries                            |   (143) |         73   |
|         Changes in Assets and Liabilities:                                                                       |   |   |
|         Accounts Receivable                                                                                      |   943 |     (516) |
|         Inventory                                                                                                |   (802) |       60 |
|         Accounts Payable                                                                                         |   (182) |       (32) |
|         Accrued Compensation                                                                                     |   (910) |     (521) |
|         Accrued Commissions and Sales Incentives                                                                 |   (1,114)    |     (410) |
|         Other Liabilities                                                                                        |   197 |       68 |
|         Other Assets                                                                                             |     (43) |     126 |
|                                                                                                                                                     |   |   |
|                Net Cash (Used In) Provided by Operating Activities            |  (1,060)   |      100 |
|                                                                                                                                                     |   |   |
| Cash Flows from Investing Activities:                                                                                                                    |   |   |
|         Capital Expenditures                                                                                     | --- |       (23) |
|                Net Cash Used in Investing Activities                          | --- |       (23) |
|                                                                                                                                                     |   |   |
|                                                                                                                                                     |   |   |
| Net (Decrease) Increase in Cash and Cash Equivalents                                                                                                     |  (1,060)   |       77 |
| Translation effect on cash                                                                                                                               |     42 |       (52) |
| Cash and Cash Equivalents – Beginning of Period                                                                                                    |    2,209     |    1,881   |
|                                                                                                                                                     |   |   |
| Cash and Cash Equivalents – End of Period                                                                                                          | $1,191    |   $1,906    |
|                                                                                                                                                     | =====   |  =====   |
|                                                                                                                                                     |   |   |
| Supplemental Disclosure of Cash Flow Information                                                                                                         |   |   |
|                                                                                                                                                     |   |   |
| Cash paid for Income Taxes                                                                                                                               |   367 |    $408   |
|                                                                                                                                                     |  === |   ====   |
|                                                                                                                                                     |   |   |
| Cash paid for Interest                                                                                                                                   | $--- |   $75 |
|                                                                                                                                                     | === |  === |
|                                                                                                                                                     |   |   |

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|            | March 31,                      | December 31,       |
|-----------------|--------------------------------|--------------------|
|            | 2011                           | 2010               |
|            | (dollars in thousands)         |
|            |                           |               |
| Finished Goods  | $4,753                         | $4,297             |
| Raw Materials   |   2,107              |   1,719  |
|            |                           |               |
| Total Inventory |  $6,860         | $6,016             |
|            |   =====    |   =====  |

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----

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| §   | ownership interest in the Company |
|--------------------|-----------------------------------|

| §   | shareholder voting rights |
|--------------------|---------------------------|

| §   | dividends or distributions |
|--------------------|----------------------------|

| §   | other incidents of ownership to the Company’s common stock |
|--------------------|------------------------------------------------------------------|

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|                                       | Units               | Weighted Average Grant Date Fair Value |
|--------------------------------------------|---------------------|----------------------------------------|
| Number of Phantom Stock Unit Awards:       |                |                                   |
|   Nonvested at December 31, 2010 | 15,555              | $11.01                                 |
|      Granted      |   8,100   |   $10.55           |
|      Vested       |   (7,274) | ($11.92)                               |
|      Forfeited    | (---)               | ($---)                                 |
|      Canceled     | (---)               | ($---)                                 |
|                                       |                |                                   |
| Nonvested at March 31, 2011                | 16,381              | $10.38                                 |
|                                       |  =====    |  =====                            |
|                                       |                |                                   |
| Phantom Stock Unit Awards Expected to Vest | 16,381              | $10.38                                 |
|                                       |  =====    |  =====                            |

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|             | Three-months ended March 31, |
|------------------|------------------------------|
|             | (in thousands)               |
|             |                         |   |   |   |
|             | 2011                         | 2011 | 2010 | 2010 |
|             | ($000)                       | % | ($000) | % |
| Net Sales        | $11,498                      | 100.0% | $11,691 | 100.0% |
| Gross Profit     | $  5,954           |   51.8% | $  6,418 |   54.9% |
| Operating Profit | $ 1, 264           |   11.0% | $ 1, 720 |   14.7% |

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| 31.1 | Certification of Chief Executive Officer of Omega Flex, Inc. pursuant to Rule 15d-14(a) promulgated under the Securities Exchange Act of 1934, as amended. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.2 | Certification of Chief Financial Officer of Omega Flex, Inc. pursuant to 15d-14(a) promulgated under the Securities Exchange Act of 1934, as amended. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.1 | Certification of Chief Executive Officer and Chief Financial Officer of Omega Flex, Inc., pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|              | OMEGA FLEX, INC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|              | (Registrant)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| Date: May 4, 2011 | By: /S/ Paul J. Kane                                                                                 |
|              | Paul J. Kane                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|              | Vice President – Finance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|              | and Chief Financial Officer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

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