UFP Technologies Announces Q3 EPS of $.35

UFP Technologies, Inc. UFPT today reported net income of $2.4 million or $0.35 per diluted common share outstanding for its third quarter ended September 30, 2010, compared to $2.1 million or $0.34 per diluted common share outstanding for the same period in 2009. Operating income improved $1.4 million to $3.8 million for the three-month period ended September 30, 2010, from $2.4 million in the same period in 2009. Sales for the quarter were a record $30.5 million or 10.3% higher than 2009 third quarter sales of $27.6 million. For the nine-month period ended September 30, 2010, the Company reported net income of $6.2 million or $0.92 per diluted common share outstanding, compared to $3.0 million or $0.49 per diluted common share outstanding for the same 2009 period. Sales for the nine-month period ended September 30, 2010, were $89.1 million or 27% higher than sales of $70.2 million for the same 2009 period. Results for the three- and nine-month periods ended September 30, 2009, include gains recorded on acquisitions of approximately $759,000 and $840,000, respectively.