UFP Technologies reports Q2 results in line with sole analyst
Shares of UFP Technologies, Inc. (Nasdaq: UFPT) are higher this morning after the manufacturer of packaging and component products reported robust second quarter results in line with expectations.
For the three months ended June 30, the Georgetown, Mass.-based firm recorded net income in line with an analyst polled by Thomson Financial of $0.98 million, or $0.17 per diluted share, compared with net income of $0.7 million, or $0.13 per diluted share, for the second quarter last year.
Sales for the second quarter, however, clocked in just shy of the analyst’s estimate. UFP Technologies booked sales of $23.2 million, while the analyst polled by Thomson Financial had anticipated sales of $25.5 million. This compares with 2006 second quarter sales of $24.5 million.
Shares of UFP Technologies jetted up 19.7%, or $0.89, to $5.40 in Wednesday morning trading.
