UFP Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 09:00 am EDT
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UFP Technologies, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 100.78 million compared to USD 96.97 million a year ago. Net income was USD 11.69 million compared to USD 19.54 million a year ago. Basic earnings per share from continuing operations was USD 1.53 compared to USD 2.58 a year ago. Diluted earnings per share from continuing operations was USD 1.52 compared to USD 2.56 a year ago.
For the nine months, sales was USD 298.58 million compared to USD 262.56 million a year ago. Net income was USD 33.32 million compared to USD 33.33 million a year ago. Basic earnings per share from continuing operations was USD 4.37 compared to USD 4.41 a year ago. Diluted earnings per share from continuing operations was USD 4.33 compared to USD 4.37 a year ago.
UFP Technologies, Inc. is a designer and custom manufacturer of comprehensive solutions for medical devices, sterile packaging, and other engineered custom products. The Companyâs single-use and single-patient devices and components are used in a range of medical devices and packaging for minimally invasive surgery, infection prevention, surfaces and support, wound care, wearables, orthopedic soft goods, and orthopedic implants. The Company is diversified by also providing engineered products and components to customers in the automotive, aerospace and defense, and industrial/other markets. Typical applications of its products include military uniform and gear components, automotive interior trim, air filtration, and protective cases and inserts. It also engineersâ components for automotive use, such as interior trim and structural applications. These components are produced using a compression molding process to create functional composites consisting of various materials.
UFP TECHNOLOGIES, INC. 
