UFP Technologies Q1 net income $9.7M ($1.27 EPS), revenue up 37% to $97.8M

UFP TECHNOLOGIES INC

2023-Q1 EPS reported $1.27 revenue$97,753,000

Medical market sales surged 59.5% to $83.8M, led by 112% growth in robotic surgery.
Gross margin improved 530 bps to 29.4% from 24.1% a year ago, boosting profitability.
Operating income rose 101.9% to $12.8M; adjusted operating income up 120.3% to $15.7M.
EBITDA grew 64.8% to $15.5M; adjusted EBITDA jumped 78.7% to $19.5M.
Company absorbed $2.85M contingent consideration charge for DAS acquisition, reflects strong performance.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UFP TECHNOLOGIES INC reported first quarter ended March 31, 2023 results: revenue $97.8 million, net income $9.7 million, EPS $1.27 per diluted common share.

Period: first quarter ended March 31, 2023
Revenue: $97.8 million
Net income: $9.7 million
EPS: $1.27 per diluted common share
Result: reported results

Exact text from the filing

UFP Technologies, Inc. (Nasdaq: UFPT), a designer and custom manufacturer of comprehensive solutions primarily for the medical market, today reported net income of $9.7 million or $1.27 per diluted common share outstanding for its first quarter ended March 31, 2023, compared to net income of $4.9 million or $0.64 per diluted common share outstanding for the first quarter of 2022. Net Sales for the first quarter were $97.8 million compared to 2022 first quarter sales of $71.2 million.

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Source: SEC EDGAR

accession 0001171843-23-002774

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