$UFPT
UFP Technologies Inc

2018 Q3 Form 10-Q Financial Statement

#000117184318007821 Filed on November 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $47.81M $35.68M
YoY Change 33.98% -4.13%
Cost Of Revenue $35.38M $27.49M
YoY Change 28.69% -4.44%
Gross Profit $12.43M $8.193M
YoY Change 51.73% -3.06%
Gross Profit Margin 26.0% 22.96%
Selling, General & Admin $6.541M $5.693M
YoY Change 14.9% -5.54%
% of Gross Profit 52.62% 69.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.950M $1.370M
YoY Change 42.34% 0.74%
% of Gross Profit 15.69% 16.72%
Operating Expenses $6.541M $5.693M
YoY Change 14.9% -5.54%
Operating Profit $5.885M $2.500M
YoY Change 135.4% -38.74%
Interest Expense $355.0K $12.00K
YoY Change 2858.33% -29.41%
% of Operating Profit 6.03% 0.48%
Other Income/Expense, Net $85.00K
YoY Change
Pretax Income $5.627M $2.551M
YoY Change 120.58% -37.87%
Income Tax $1.493M $856.0K
% Of Pretax Income 26.53% 33.56%
Net Earnings $4.134M $1.695M
YoY Change 143.89% -36.49%
Net Earnings / Revenue 8.65% 4.75%
Basic Earnings Per Share $0.56 $0.23
Diluted Earnings Per Share $0.56 $0.23
COMMON SHARES
Basic Shares Outstanding 7.366M 7.264M
Diluted Shares Outstanding 7.435M 7.353M

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.100M $37.20M
YoY Change -86.29% 23.59%
Cash & Equivalents $5.088M $37.25M
Short-Term Investments
Other Short-Term Assets $2.200M $2.200M
YoY Change 0.0% 0.0%
Inventory $19.90M $13.14M
Prepaid Expenses $2.219M $2.234M
Receivables $30.10M $22.00M
Other Receivables $1.000M $1.000M
Total Short-Term Assets $58.32M $75.64M
YoY Change -22.9% 8.62%
LONG-TERM ASSETS
Property, Plant & Equipment $58.46M $51.98M
YoY Change 12.46% 6.6%
Goodwill $51.84M $7.322M
YoY Change 607.98% 0.0%
Intangibles $22.55M $79.00K
YoY Change 28439.24% -80.1%
Long-Term Investments
YoY Change
Other Assets $275.0K $2.069M
YoY Change -86.71% 7.37%
Total Long-Term Assets $135.4M $61.45M
YoY Change 120.4% 5.21%
TOTAL ASSETS
Total Short-Term Assets $58.32M $75.64M
Total Long-Term Assets $135.4M $61.45M
Total Assets $193.8M $137.1M
YoY Change 41.34% 7.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.970M $4.958M
YoY Change 60.75% -2.9%
Accrued Expenses $6.569M $5.356M
YoY Change 22.65% -0.3%
Deferred Revenue $3.918M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.857M $84.00K
YoY Change 3301.19% -91.83%
Total Short-Term Liabilities $21.31M $10.40M
YoY Change 104.98% -9.63%
LONG-TERM LIABILITIES
Long-Term Debt $31.00M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $65.00K $118.0K
YoY Change -44.92% -93.79%
Total Long-Term Liabilities $31.07M $118.0K
YoY Change 26226.27% 40.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.31M $10.40M
Total Long-Term Liabilities $31.07M $118.0K
Total Liabilities $57.96M $16.18M
YoY Change 258.28% -2.28%
SHAREHOLDERS EQUITY
Retained Earnings $107.4M $94.85M
YoY Change 13.23% 9.19%
Common Stock $74.00K $73.00K
YoY Change 1.37% 1.39%
Preferred Stock
YoY Change
Treasury Stock (at cost) $587.0K $587.0K
YoY Change 0.0% 0.0%
Treasury Stock Shares $29.56K $29.56K
Shareholders Equity $135.8M $120.9M
YoY Change
Total Liabilities & Shareholders Equity $193.8M $137.1M
YoY Change 41.34% 7.07%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $4.134M $1.695M
YoY Change 143.89% -36.49%
Depreciation, Depletion And Amortization $1.950M $1.370M
YoY Change 42.34% 0.74%
Cash From Operating Activities $6.100M $5.080M
YoY Change 20.08% 2.01%
INVESTING ACTIVITIES
Capital Expenditures -$1.530M -$2.410M
YoY Change -36.51% 42.6%
Acquisitions
YoY Change
Other Investing Activities $10.00K $0.00
YoY Change
Cash From Investing Activities -$1.520M -$2.400M
YoY Change -36.67% 42.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.410M 60.00K
YoY Change -9116.67% -135.29%
NET CHANGE
Cash From Operating Activities 6.100M 5.080M
Cash From Investing Activities -1.520M -2.400M
Cash From Financing Activities -5.410M 60.00K
Net Change In Cash -830.0K 2.740M
YoY Change -130.29% -12.18%
FREE CASH FLOW
Cash From Operating Activities $6.100M $5.080M
Capital Expenditures -$1.530M -$2.410M
Free Cash Flow $7.630M $7.490M
YoY Change 1.87% 12.29%

Facts In Submission

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CY2017Q4 us-gaap Liabilities
Liabilities
14495000
CY2018Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
193760000
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
138207000
CY2018Q3 us-gaap Liabilities Current
LiabilitiesCurrent
21314000
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
9943000
CY2018Q3 us-gaap Long Term Debt
LongTermDebt
33857000
CY2018Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
2857000
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
CY2018Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
31000000
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
34983000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-249000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-81422000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6874000
us-gaap Net Income Loss
NetIncomeLoss
9901000
us-gaap Net Income Loss
NetIncomeLoss
6495000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
4134000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
1695000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
5885000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2500000
us-gaap Operating Income Loss
OperatingIncomeLoss
14118000
us-gaap Operating Income Loss
OperatingIncomeLoss
9635000
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
275000
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
144000
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
65000
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
82000
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
85000
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
137000
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
4521000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6880000
CY2018Q3 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
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2219000
CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1835000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
20000000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
36000000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
77000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1300000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
802000
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
112503000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
106716000
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
107743000
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
58459000
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
53652000
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
54131000
CY2018Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
30144000
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
21381000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2143000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
772000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
20000000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
CY2018Q3 us-gaap Restructuring Charges
RestructuringCharges
CY2017Q3 us-gaap Restructuring Charges
RestructuringCharges
us-gaap Restructuring Charges
RestructuringCharges
us-gaap Restructuring Charges
RestructuringCharges
63000
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
107392000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
97562000
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
97492000
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
47808000
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
35684000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
139758000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
110623000
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
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
135797000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
123712000
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6541000
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5693000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20550000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18070000
us-gaap Share Based Compensation
ShareBasedCompensation
963000
us-gaap Share Based Compensation
ShareBasedCompensation
842000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1200000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
577000
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
29559
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
29559
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
587000
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
587000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7435000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7353000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7406000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7326000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7366000
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7264000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7338000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7240000

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