$UFPT (+1.11%)
NEWBURYPORT, Mass, Aug. 4, 2025 (GLOBE NEWSWIRE) - UFP Technologies, Inc. (Nasdaq: UFPT), a contract development and manufacturing company specializing in single-use and single-patient medical devices, today reported net income of $17.2 million, or $2.21 per diluted common share, for the second quarter ended June 30, 2025, compared to net income of $13.6 million, or $1.75 per diluted common share, for the same quarter in 2024. for the second quarter ended June 30, 2025, compared to net income of $13.6 million, or $1.75 per diluted common share, for the same quarter in 2024. Adjusted earnings per diluted common share increased 27% to $2.50. Revenue for the second quarter was $151.2 million compared to $110.2 million for the second quarter of 2024. Net income for the six-month period ended June 30, 2025 was $34.4 million, or $4.42 per diluted common share outstanding, compared to net income of $26.2 million, or $3.38 per diluted common share outstanding, for the same period in 2024. Revenue for the six-month period ended June 30, 2025 was $299.3 million compared to $215.2 million for the same period in 2024. Non-GAAP financial measures referenced in this press release include organic revenue growth, adjusted operating income, adjusted selling, general and administrative expenses, adjusted net income and earnings per share, EBITDA and adjusted EBITDA. Please refer to the "Non-GAAP Financial Information" at the end of this press release.
"I am very pleased with our Q2 results," said R. Jeffrey Bailly, Chairman & CEO. "Revenue increased 37%, driven by strong contributions from our 2024 acquisitions combined with organic growth of 5%. Our MedTech business grew by 46%, while our Advanced Components business declined by 20%. Adjusted operating profit and adjusted net profit increased by 35% and 27% respectively. Gross margins were 28.8%, although impacted by additional labor costs of approximately $1.2 million at our AJR plant. This was due to recent attrition in the workforce related to our US labor eligibility review following the acquisition by E-Verify protocols. We have successfully recruited legally suitable replacements and expect the third quarter to be the low point for labor inefficiencies, with a gradual improvement from the fourth quarter."
"We completed two acquisitions in the second quarter: Universal Plastics & Engineering (UNIPEC) and Techno Plastics Industries (TPI)," said Bailly. These acquisitions expand our capabilities in the production of specialty film components with tight tolerances and in thermoplastic molding for the medical device market. In addition, we have further advanced our expansion plans in Santiago and La Romana (Dominican Republic) to meet the expected further growth in the areas of safe patient care and robot-assisted surgery."
"Our pipeline of new growth opportunities - both internally and through acquisitions - is strong and growing," said Bailly. "For these and other reasons, we remain excited about the future."
https://www.globenewswire.com/news-release/2025/08/04/3126895/0/en/UFP-Technologies-Announces-Record-Q2-Results.html
