<SEC-DOCUMENT>0001171843-17-001291.txt : 20170303
<SEC-HEADER>0001171843-17-001291.hdr.sgml : 20170303
<ACCEPTANCE-DATETIME>20170303163013
ACCESSION NUMBER:		0001171843-17-001291
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170302
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170303
DATE AS OF CHANGE:		20170303

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UFP TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000914156
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTICS FOAM PRODUCTS [3086]
		IRS NUMBER:				042314970
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12648
		FILM NUMBER:		17664082

	BUSINESS ADDRESS:	
		STREET 1:		100 HALE STREET
		CITY:			NEWBURYPORT
		STATE:			MA
		ZIP:			01950
		BUSINESS PHONE:		978-352-2200

	MAIL ADDRESS:	
		STREET 1:		100 HALE STREET
		CITY:			NEWBURYPORT
		STATE:			MA
		ZIP:			01950
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_030317.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html><head><title></title></head><body><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div></div><p style="text-align: center;"><font style="font-size: 14pt;"><strong>UNITED STATES</strong><br><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br><strong>Washington, D.C. 20549</strong><br>_____________________</font></p><p style="text-transform: uppercase; text-align: center;"><font style="font-size: 14pt;"><strong>Form 8-K</strong><br>_____________________</font></p><p style="text-align: center;"><font style="font-size: 10pt;">Current Report Pursuant to<br>Section 13 or 15(d) of the<br>Securities Exchange Act of 1934 </font></p><p align="center"><font style="font-size: 10pt;">Date of Report (Date of earliest event Reported): <!--March 2, 2017-->March 2, 2017 &#160;</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="bottom"><td style="border-bottom: Black 1pt solid;" align="center" width="50%"><font style="font-size: 12pt;"><strong>UFP Technologies, Inc.</strong></font></td></tr><tr valign="top"><td align="center" width="50%"><font style="font-size: 10pt;">(Exact Name of Registrant as Specified in Charter)</font></td></tr><tr style="vertical-align: top;"><td style="text-align: center;">&#160;</td></tr><tr valign="bottom"><td style="border-bottom: Black 1pt solid;" align="center" width="50%"><font style="font-size: 12pt;"><strong>Delaware</strong></font></td></tr><tr valign="top"><td align="center" width="50%"><font style="font-size: 10pt;">(State or Other Jurisdiction of Incorporation)<br><br></font></td></tr></table><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td style="text-align: center; width: 40%; border-bottom: Black 1pt solid;"><font style="font-size: 10pt;"><strong>001-12648</strong></font></td><td style="text-align: center; width: 20%;">&#160;</td><td style="text-align: center; width: 40%; border-bottom: Black 1pt solid;"><font style="font-size: 10pt;"><strong>04-2314970</strong></font></td></tr><tr valign="top"><td style="text-align: center;"><font style="font-size: 10pt;">(Commission File Number)</font></td><td style="text-align: center;">&#160;</td><td style="text-align: center;"><font style="font-size: 10pt;">(I.R.S. 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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252"><meta name="GENERATOR" content="MSHTML 8.00.7601.18094"></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><strong>UFP Technologies Announces 2016 Results</strong></p><p style="text-align: center;"><p><p>NEWBURYPORT, Mass., March  02, 2017  (GLOBE NEWSWIRE) -- UFP Technologies, Inc.&#160; (Nasdaq:UFPT), an innovative designer and custom converter of foams, plastics, composites, and natural fiber materials, today reported net income of $8.0 million or $1.10 per diluted common share outstanding for its fiscal year ended December 31, 2016, compared to net income of $7.6&#160;million or $1.05 per diluted common share outstanding for its 2015 fiscal year.&#160; Sales for 2016 were $146.1 million compared to 2015 sales of $138.9 million.&#160; For its fourth quarter ended December 31, 2016, the Company reported net income of $1.5 million or $0.20 per diluted common share outstanding, compared to net income of $1.7 million or $0.23 per diluted common share outstand&#173;ing in the same period of 2015.&#160; Sales for the fourth quarter 2016 were $36.5 million versus 2015 fourth quarter sales of $33.9 million.<br></p><p>&#8220;I am pleased by our continued progress,&#8221; said R. 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As we approach the end of this process, we have turned our attention to improving operating efficiency with a series of cost-cutting initiatives, including optimized cell layouts and workforce reductions.&#8221;</p><p>&#8220;We have also secured important contracts that bode well for our future growth,&#8221; Bailly continued. &#8220;On the vendor partner side, we signed a five-year deal with Zotefoams Inc., our largest supplier of cross-linked polyethylene foams, for exclusive or semi-exclusive access to a wide range of unique high-value medical grades of foam. We also reached a multi-year agreement with one of our largest medical customers, and have begun a relationship with Boeing, a key aerospace target. In addition, our pipeline of acquisition opportunities has never been more promising. 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Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation risks and uncertainties associated with the identification of suitable ac&#173;quisition candidates and the successful, efficient execution of acquisition transactions and integration of any such acquisition candi&#173;dates, risks and uncertainties associated with plant closures and expected efficiencies from consolidating manufacturing, risks that the Company may not be able to finalize anticipated new customer contracts, risks associated with the implementation of new production equipment and requalification or recertification of transferred equipment, in a timely, cost-efficient manner, risks that any benefits from such new or transferred equipment may be delayed or not fully realized, or that the Company may be unable to fully utilize its expected production capacity, as well as other risks and uncertainties that are detailed in the documents filed by the Company with the Securities and Exchange Commission (&#8220;SEC&#8221;).&#160; 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vertical-align: bottom;   text-align: right;   white-space: nowrap; ">&#160;</td><td colspan="2" style="vertical-align: bottom ; vertical-align: bottom;   text-align: right;   white-space: nowrap; text-align: right ;  vertical-align: bottom; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; vertical-align: bottom;   text-align: left; vertical-align: bottom;   text-align: left;   padding-left: 15.0px; ">Short-term debt</td><td style="vertical-align: bottom ; vertical-align: bottom;   text-align: left; vertical-align: bottom;   text-align: left;   padding-left: 15.0px; ">&#160;</td><td style="vertical-align: bottom ; vertical-align: bottom;   text-align: right;   white-space: nowrap; ">$</td><td colspan="1" style="vertical-align: bottom ; vertical-align: bottom;   text-align: right;   white-space: nowrap; ">&#160; 856</td><td style="vertical-align: bottom ; vertical-align: bottom;   text-align: right;   white-space: nowrap; ">&#160;</td><td style="vertical-align: bottom ; vertical-align: bottom; 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vertical-align: bottom;   text-align: right;   white-space: nowrap; ">&#160;</td><td colspan="2" style="vertical-align: bottom ; border-bottom: solid black 1pt ; vertical-align: bottom;   text-align: right;   white-space: nowrap; text-align: right ;  vertical-align: bottom; ">4,536</td></tr><tr><td style="vertical-align: bottom ; vertical-align: bottom;   text-align: left; vertical-align: bottom;   text-align: left;   padding-left: 30.0px; ">Total liabilities</td><td style="vertical-align: bottom ; vertical-align: bottom;   text-align: left; vertical-align: bottom;   text-align: left;   padding-left: 30.0px; ">&#160;</td><td colspan="2" style="vertical-align: bottom ; vertical-align: bottom;   text-align: right;   white-space: nowrap; ">14,881</td><td style="vertical-align: bottom ; vertical-align: bottom;   text-align: right;   white-space: nowrap; ">&#160;</td><td colspan="2" style="vertical-align: bottom ; vertical-align: bottom;   text-align: right;   white-space: nowrap; text-align: right ; 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">Total liabilities and stockholders' equity</td><td style="vertical-align: bottom ; vertical-align: bottom;   text-align: left; vertical-align: bottom;   text-align: left;   padding-left: 30.0px; ">&#160;</td><td style="vertical-align: bottom ; border-bottom: double black 3pt ; vertical-align: bottom;   text-align: right;   white-space: nowrap; ">$</td><td colspan="1" style="vertical-align: bottom ; border-bottom: double black 3pt ; vertical-align: bottom;   text-align: right;   white-space: nowrap; ">&#160; 127,934</td><td style="vertical-align: bottom ; vertical-align: bottom;   text-align: right;   white-space: nowrap; ">&#160;</td><td style="vertical-align: bottom ; border-bottom: double black 3pt ; vertical-align: bottom;   text-align: right;   white-space: nowrap; ">$</td><td colspan="1" style="vertical-align: bottom ; border-bottom: double black 3pt ; vertical-align: bottom;   text-align: right;   white-space: nowrap; text-align: right ;  vertical-align: bottom; ">&#160; 119,635</td></tr></table><div id="mceResizeHandlen" class="mce-resizehandle" style="cursor: n-resize; margin: 0px; padding: 0px; left: 270.5px; top: 808.5px;"></div><div id="mceResizeHandlee" class="mce-resizehandle" style="cursor: e-resize; margin: 0px; padding: 0px; left: 536.5px; top: 1060px;"></div><div id="mceResizeHandles" class="mce-resizehandle" style="cursor: s-resize; margin: 0px; padding: 0px; left: 270.5px; top: 1311.5px;"></div><div id="mceResizeHandlew" class="mce-resizehandle" style="cursor: w-resize; margin: 0px; padding: 0px; left: 4.5px; top: 1060px;"></div><div id="mceResizeHandlenw" class="mce-resizehandle" style="cursor: nw-resize; margin: 0px; padding: 0px; left: 4.5px; top: 808.5px;"></div><div id="mceResizeHandlene" class="mce-resizehandle" style="cursor: ne-resize; margin: 0px; padding: 0px; left: 536.5px; top: 808.5px;"></div><div id="mceResizeHandlese" class="mce-resizehandle" style="cursor: se-resize; margin: 0px; padding: 0px; left: 536.5px; top: 1311.5px;"></div><div id="mceResizeHandlesw" class="mce-resizehandle" style="cursor: sw-resize; margin: 0px; padding: 0px; left: 4.5px; top: 1311.5px;"></div></p><p>www.ufpt.com<br>Contact: Ron Lataille<br>978-234-0926</p></body></html>
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</SEC-DOCUMENT>
