UFP Technologies Reports Q4 EPS of $0.45 vs. $0.37

UFP Technologies, Inc. UFPT today reported net income of $9.2 million or $1.37 per diluted common share outstanding for its fiscal year ended December 31, 2010, 56% higher than net income of $5.9 million or $0.94 per diluted common share outstanding for its 2009 fiscal year. Sales for 2010 were $120.8 million, 22% higher than 2009 sales of $99.2 million. For its fourth quarter ended December 31, 2010, the Company reported net income of $3.1 million or $0.45 per diluted common share outstanding, 6% higher than net income of $2.9 million or $0.45 per diluted common share outstanding in the same period in 2009. Sales for the fourth quarter of 2010 were $31.6 million, 9% higher than 2009 fourth quarter sales of $29.0 million.