$UFPT
UFP Technologies Inc

2018 Q2 Form 10-Q Financial Statement

#000117184318005912 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $49.02M $37.89M
YoY Change 29.39% -0.04%
Cost Of Revenue $36.03M $27.95M
YoY Change 28.94% 1.19%
Gross Profit $12.99M $9.941M
YoY Change 30.63% -3.44%
Gross Profit Margin 26.49% 26.24%
Selling, General & Admin $7.417M $6.061M
YoY Change 22.37% -6.32%
% of Gross Profit 57.12% 60.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.040M $1.400M
YoY Change 45.71% 1.45%
% of Gross Profit 15.71% 14.08%
Operating Expenses $7.417M $6.061M
YoY Change 22.37% -6.32%
Operating Profit $5.669M $3.930M
YoY Change 44.25% -6.27%
Interest Expense $404.0K $13.00K
YoY Change 3007.69% -23.53%
% of Operating Profit 7.13% 0.33%
Other Income/Expense, Net $3.000K
YoY Change
Pretax Income $5.275M $3.959M
YoY Change 33.24% -5.92%
Income Tax $1.285M $1.329M
% Of Pretax Income 24.36% 33.57%
Net Earnings $3.990M $2.630M
YoY Change 51.71% -3.84%
Net Earnings / Revenue 8.14% 6.94%
Basic Earnings Per Share $0.54 $0.36
Diluted Earnings Per Share $0.54 $0.36
COMMON SHARES
Basic Shares Outstanding 7.347M 7.239M
Diluted Shares Outstanding 7.413M 7.323M

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.900M $34.50M
YoY Change -82.9% 27.78%
Cash & Equivalents $5.915M $34.51M
Short-Term Investments
Other Short-Term Assets $2.100M $2.500M
YoY Change -16.0% -3.85%
Inventory $18.73M $14.10M
Prepaid Expenses $2.106M $2.455M
Receivables $30.20M $22.30M
Other Receivables $600.0K $0.00
Total Short-Term Assets $57.55M $73.38M
YoY Change -21.57% 9.52%
LONG-TERM ASSETS
Property, Plant & Equipment $58.69M $50.84M
YoY Change 15.45% 5.25%
Goodwill $51.84M $7.322M
YoY Change 607.98%
Intangibles $22.86M $159.0K
YoY Change 14277.36%
Long-Term Investments
YoY Change
Other Assets $191.0K $1.994M
YoY Change -90.42% 4.95%
Total Long-Term Assets $135.8M $60.31M
YoY Change 125.16% 3.98%
TOTAL ASSETS
Total Short-Term Assets $57.55M $73.38M
Total Long-Term Assets $135.8M $60.31M
Total Assets $193.3M $133.7M
YoY Change 44.62% 6.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.743M $4.394M
YoY Change 98.98% -20.11%
Accrued Expenses $5.407M $4.629M
YoY Change 16.81% -3.56%
Deferred Revenue $3.331M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.857M $342.0K
YoY Change 735.38% -65.8%
Total Short-Term Liabilities $20.34M $9.365M
YoY Change 117.17% -17.12%
LONG-TERM LIABILITIES
Long-Term Debt $36.71M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $52.00K $132.0K
YoY Change -60.61% -92.67%
Total Long-Term Liabilities $36.77M $132.0K
YoY Change 27753.03% -93.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.34M $9.365M
Total Long-Term Liabilities $36.77M $132.0K
Total Liabilities $62.26M $14.99M
YoY Change 315.26% -9.14%
SHAREHOLDERS EQUITY
Retained Earnings $103.3M $93.15M
YoY Change 10.85%
Common Stock $73.00K $73.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $587.0K $587.0K
YoY Change 0.0%
Treasury Stock Shares $29.56K $29.56K
Shareholders Equity $131.1M $118.7M
YoY Change
Total Liabilities & Shareholders Equity $193.3M $133.7M
YoY Change 44.62% 6.95%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $3.990M $2.630M
YoY Change 51.71% -3.84%
Depreciation, Depletion And Amortization $2.040M $1.400M
YoY Change 45.71% 1.45%
Cash From Operating Activities $9.440M $3.790M
YoY Change 149.08% -0.26%
INVESTING ACTIVITIES
Capital Expenditures -$1.500M -$3.010M
YoY Change -50.17% 16.67%
Acquisitions
YoY Change
Other Investing Activities $30.00K $0.00
YoY Change
Cash From Investing Activities -$1.470M -$3.010M
YoY Change -51.16% 16.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.120M -30.00K
YoY Change 30300.0% -109.38%
NET CHANGE
Cash From Operating Activities 9.440M 3.790M
Cash From Investing Activities -1.470M -3.010M
Cash From Financing Activities -9.120M -30.00K
Net Change In Cash -1.150M 750.0K
YoY Change -253.33% -51.3%
FREE CASH FLOW
Cash From Operating Activities $9.440M $3.790M
Capital Expenditures -$1.500M -$3.010M
Free Cash Flow $10.94M $6.800M
YoY Change 60.88% 6.58%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2017Q4 us-gaap Prepaid Expense Current
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1835000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
20000000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
CY2017Q4 us-gaap Inventory Net
InventoryNet
12863000
CY2018Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
9193000
CY2017Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
6898000
CY2018Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
3710000
CY2017Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1207000
CY2018Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
7000
CY2017Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
42000
us-gaap Investment Income Interest
InvestmentIncomeInterest
32000
us-gaap Investment Income Interest
InvestmentIncomeInterest
84000
CY2018Q2 us-gaap Liabilities
Liabilities
62256000
CY2017Q4 us-gaap Liabilities
Liabilities
14495000
CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
193342000
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
138207000
CY2018Q2 us-gaap Liabilities Current
LiabilitiesCurrent
20338000
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
9943000
CY2018Q2 us-gaap Long Term Debt
LongTermDebt
39571000
CY2018Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
2857000
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
CY2018Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
36714000
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
40391000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-306000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-79901000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4465000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7447000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7926000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
3990000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
2630000
us-gaap Net Income Loss
NetIncomeLoss
5767000
us-gaap Net Income Loss
NetIncomeLoss
4801000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
5669000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
3930000
us-gaap Operating Income Loss
OperatingIncomeLoss
8232000
us-gaap Operating Income Loss
OperatingIncomeLoss
7136000
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
191000
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
144000
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
52000
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
82000
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3000
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
53000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
144000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
107000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
76978000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2991000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4471000
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
487000
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
111289000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
106716000
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
107743000
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
58689000
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
53652000
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
54131000
CY2018Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
30179000
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
21381000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1429000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
514000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
15000000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
CY2018Q2 us-gaap Restructuring Charges
RestructuringCharges
CY2017Q2 us-gaap Restructuring Charges
RestructuringCharges
63000
us-gaap Restructuring Charges
RestructuringCharges
us-gaap Restructuring Charges
RestructuringCharges
63000
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
103259000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
97562000
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
97492000
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
49019000
CY2017Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
37886000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
91949000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
74939000
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7417000
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6061000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14008000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
12376000
us-gaap Share Based Compensation
ShareBasedCompensation
691000
us-gaap Share Based Compensation
ShareBasedCompensation
636000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
391000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
10344
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.15
CY2018Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
31.20
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
131086000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
123712000
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
29559
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
29559
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
587000
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
587000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7413000
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7323000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7408000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7312000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7347000
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7239000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7336000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7228000

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