UFP Technologies Inc. (NASDAQ: UFPT) Reports Solid Q2 Results
UFP Technologies Inc. (UFPT), a manufacturer of protective packaging solutions for a wide range of end markets, reported second quarter financial results this morning. Revenues increased 22.8% year over year to $28.5 million. Net income grew 61.1% to $1.57 million, or 25 cents per share, compared to $0.98 million, or 17 cents per share, for the same period last year. A single analyst that covers the stock expected earnings of 24 cents per share on revenues of $28.3 million. “I am very pleased with our continued progress,” said R. Jeffrey Bailly, Chairman, CEO and President. “Our 23% sales increase includes…