$UFPT
UFP Technologies Inc

2020 Q1 Form 10-Q Financial Statement

#000117184320003541 Filed on May 08, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1 2018 Q4
Revenue $48.28M $47.33M $50.70M
YoY Change 2.01% 10.24% 36.21%
Cost Of Revenue $35.45M $34.83M $37.99M
YoY Change 1.79% 6.37% 29.31%
Gross Profit $12.82M $12.50M $12.71M
YoY Change 2.61% 22.7% 62.13%
Gross Profit Margin 26.56% 26.41% 25.06%
Selling, General & Admin $7.752M $7.244M $7.210M
YoY Change 7.01% 9.89% 24.74%
% of Gross Profit 60.45% 57.97% 56.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.066M $2.022M $2.010M
YoY Change 2.18% 10.37% 36.73%
% of Gross Profit 16.11% 16.18% 15.82%
Operating Expenses $7.752M $7.244M $7.210M
YoY Change 7.01% 9.89% 24.74%
Operating Profit $5.075M $5.253M $5.496M
YoY Change -3.39% 104.88% 167.19%
Interest Expense $16.00K $231.0K -$290.0K
YoY Change -93.07% -15.38% -583.33%
% of Operating Profit 0.32% 4.4% -5.28%
Other Income/Expense, Net -$327.0K -$239.0K -$70.00K
YoY Change 36.82% -578.0%
Pretax Income $4.732M $4.783M $5.140M
YoY Change -1.07% 102.16% 142.45%
Income Tax $841.0K $1.049M $730.0K
% Of Pretax Income 17.77% 21.93% 14.2%
Net Earnings $3.891M $3.734M $4.410M
YoY Change 4.2% 110.13% 62.13%
Net Earnings / Revenue 8.06% 7.89% 8.7%
Basic Earnings Per Share $0.52 $0.00 $0.60
Diluted Earnings Per Share $0.52 $0.00 $0.59
COMMON SHARES
Basic Shares Outstanding 7.457M 7.402M
Diluted Shares Outstanding 7.538M 7.466M

Balance Sheet

Concept 2020 Q1 2019 Q1 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.300M $2.500M $3.200M
YoY Change 192.0% -64.79% -91.58%
Cash & Equivalents $7.334M $2.493M $3.238M
Short-Term Investments
Other Short-Term Assets $2.800M $1.800M $2.200M
YoY Change 55.56% -33.33% 22.22%
Inventory $20.24M $19.44M $19.58M
Prepaid Expenses $2.750M $1.842M $2.206M
Receivables $29.45M $29.80M $28.32M
Other Receivables $0.00 $1.500M $2.300M
Total Short-Term Assets $59.78M $55.05M $55.63M
YoY Change 8.59% -5.25% -25.91%
LONG-TERM ASSETS
Property, Plant & Equipment $56.23M $57.46M $57.67M
YoY Change -2.13% 6.14% 7.48%
Goodwill $51.84M $51.84M $51.84M
YoY Change 0.0% 0.0% 607.98%
Intangibles $20.66M $21.92M $22.23M
YoY Change -5.74% -5.47%
Long-Term Investments
YoY Change
Other Assets $148.0K $137.0K $201.0K
YoY Change 8.03% -27.13% 39.58%
Total Long-Term Assets $134.4M $137.6M $134.0M
YoY Change -2.31% 1.09% 112.21%
TOTAL ASSETS
Total Short-Term Assets $59.78M $55.05M $55.63M
Total Long-Term Assets $134.4M $137.6M $134.0M
Total Assets $194.2M $192.7M $189.6M
YoY Change 0.8% -0.8% 37.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.535M $6.037M $6.836M
YoY Change 24.81% 11.55% 63.54%
Accrued Expenses $6.350M $5.952M $8.458M
YoY Change 6.69% 7.44% 54.74%
Deferred Revenue $2.432M $2.972M $2.507M
YoY Change -18.17% 241.22% 744.11%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.857M $2.857M
YoY Change 0.0%
Total Short-Term Liabilities $17.46M $18.97M $20.66M
YoY Change -7.95% 11.99% 107.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $19.29M $22.29M
YoY Change -100.0% -13.46%
Other Long-Term Liabilities $630.0K $195.0K $24.00K
YoY Change 223.08% 191.04% -70.73%
Total Long-Term Liabilities $630.0K $19.48M $22.31M
YoY Change -96.77% -12.85% 27107.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.46M $18.97M $20.66M
Total Long-Term Liabilities $630.0K $19.48M $22.31M
Total Liabilities $27.94M $48.16M $49.14M
YoY Change -41.99% -29.38% 239.02%
SHAREHOLDERS EQUITY
Retained Earnings $135.4M $115.5M $111.8M
YoY Change 17.23% 18.51% 14.6%
Common Stock $75.00K $74.00K $74.00K
YoY Change 1.35% 1.37% 1.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $587.0K $587.0K $587.0K
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares $29.56K $29.56K $29.56K
Shareholders Equity $166.3M $144.5M $140.5M
YoY Change
Total Liabilities & Shareholders Equity $194.2M $192.7M $189.6M
YoY Change 0.8% -0.8% 37.18%

Cashflow Statement

Concept 2020 Q1 2019 Q1 2018 Q4
OPERATING ACTIVITIES
Net Income $3.891M $3.734M $4.410M
YoY Change 4.2% 110.13% 62.13%
Depreciation, Depletion And Amortization $2.066M $2.022M $2.010M
YoY Change 2.18% 10.37% 36.73%
Cash From Operating Activities $4.742M $3.629M $7.770M
YoY Change 30.67% -282.18% 74.22%
INVESTING ACTIVITIES
Capital Expenditures $1.020M $1.388M -$910.0K
YoY Change -26.51% -7.1% -74.0%
Acquisitions
YoY Change
Other Investing Activities $10.00K $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.007M -$1.388M -$910.0K
YoY Change -27.45% -98.23% -74.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$144.0K -2.986M -8.710M
YoY Change -95.18% -106.03% 3686.96%
NET CHANGE
Cash From Operating Activities $4.742M 3.629M 7.770M
Cash From Investing Activities -$1.007M -1.388M -910.0K
Cash From Financing Activities -$144.0K -2.986M -8.710M
Net Change In Cash $3.591M -745.0K -1.850M
YoY Change -582.01% -97.59% -356.94%
FREE CASH FLOW
Cash From Operating Activities $4.742M $3.629M $7.770M
Capital Expenditures $1.020M $1.388M -$910.0K
Free Cash Flow $3.722M $2.241M $8.680M
YoY Change 66.09% -164.29% 9.05%

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36000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
959000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
874000
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
163000
CY2020Q1 us-gaap Liabilities
Liabilities
27938000
CY2019Q4 us-gaap Liabilities
Liabilities
26767000
CY2020Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
194213000
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
188758000
CY2020Q1 us-gaap Liabilities Current
LiabilitiesCurrent
17462000
CY2019Q4 us-gaap Liabilities Current
LiabilitiesCurrent
16784000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-144000
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2986000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1007000
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1388000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4742000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3629000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
3891000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
3734000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
5075000
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
5253000
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
305000
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
307000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2827000
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1140000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1150000
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1687000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1940000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
305000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
303000
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2771000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3034000
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0445
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0445
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y164D
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y135D
CY2020Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
148000
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
147000
CY2020Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
630000
CY2019Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
334000
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-327000
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-239000
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
560000
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
271000
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1020000
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1388000
CY2020Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2020Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2020Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2020Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2750000
CY2019Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2304000
CY2020Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
13000
CY2019Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
CY2020Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
117292000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
116089000
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
56230000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
56739000
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
60000
CY2020Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
CY2019Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
3000000
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
135443000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
131552000
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
48277000
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
47328000
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
7000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
161991000
CY2020Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7752000
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7244000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
537000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
294000
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6000
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
537000
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
294000
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
416000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
285000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
166275000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
140457000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
144499000
CY2020Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
29559
CY2019Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
29559
CY2020Q1 us-gaap Treasury Stock Value
TreasuryStockValue
587000
CY2019Q4 us-gaap Treasury Stock Value
TreasuryStockValue
587000
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
57000
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
57000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7538000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7466000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7457000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7402000

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