<SEC-DOCUMENT>0001171843-17-006583.txt : 20171102
<SEC-HEADER>0001171843-17-006583.hdr.sgml : 20171102
<ACCEPTANCE-DATETIME>20171102172945
ACCESSION NUMBER:		0001171843-17-006583
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171102
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171102
DATE AS OF CHANGE:		20171102

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:		171173812

	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_110217.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): <!--November 2, 2017-->November 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. Employer Identification Number)</font></td></tr><tr style="vertical-align: top;"><td style="text-align: center;">&#160;</td><td style="text-align: center;">&#160;</td><td style="text-align: center;">&#160;</td></tr><tr style="vertical-align: top;"><td style="text-align: center; border-bottom: Black 1pt solid;"><font style="font-size: 10pt;"><strong>100 Hale Street, Newburyport, MA - USA </strong></font></td><td style="text-align: center;">&#160;</td><td style="text-align: center; border-bottom: Black 1pt solid;"><font style="font-size: 10pt;"><strong>01950-3504</strong></font></td></tr><tr style="vertical-align: top;"><td style="text-align: center;"><font style="font-size: 10pt;">(Address of Principal Executive Offices) </font></td><td style="text-align: center;">&#160;</td><td style="text-align: center;"><font style="font-size: 10pt;">(Zip Code)</font></td></tr></table><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: 10pt;"><strong><br>978-352-2200</strong></font></td></tr><tr valign="top"><td align="center" width="50%"><font style="font-size: 10pt;">(Registrant's telephone number, including area code)</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: 10pt;"><strong>N/A</strong></font></td></tr><tr valign="top"><td align="center" width="50%"><font style="font-size: 10pt;">(Former name or former address, if changed since last report)<br><br></font></td></tr></table><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td colspan="3"><font style="font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<br><br></font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[  ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[  ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[  ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[  ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td></tr></table><p><font style="font-family: 'times new roman', roman, serif; font-size: 10pt;"><br>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &sect;240.12b-2). Emerging growth company [ &#160; ]</font></p><p><font style="font-family: 'times new roman', roman, serif; font-size: 10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ &#160; ]</font></p><div style="margin-top: 12pt; margin-bottom: 3pt;"><div style="font-size: 1pt; border-top: Black 1.1pt solid; border-bottom: Black 2.5pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div>&#160;</div><hr style="page-break-after: always;" noshade="noshade"><p><font style="font-size: 10pt;">  <strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 2.02. Results of Operations and Financial Condition.</strong></font></p><p><font style="font-size: 10pt;"><p style="margin-right: 0in; margin-left: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;">On November 2, 2017, UFP Technologies, Inc. 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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 Q3 Results, Adds New General Counsel/Senior VP</strong></p><p style="text-align: center;"><p>
 <p>NEWBURYPORT, Mass., Nov.  02, 2017  (GLOBE NEWSWIRE) -- UFP Technologies, Inc.&#160; (Nasdaq:UFPT), an innovative designer and custom converter of foams, plastics, and natural fiber materials, today reported net income of $1.7 million or $0.23 per diluted common share outstanding for its third quarter ended September 30, 2017, compared to net income of $2.7 million or $0.37&#160;per diluted common share outstanding for the same period in 2016.&#160; Sales for the third quarter were $35.7&#160;million, compared to third quarter sales of $37.2 million in 2016.&#160; Net income for the nine-month period ended September 30, 2017, was $6.5 million or $0.89 per diluted common share outstanding compared to $6.5 million or $0.89 per diluted common share outstanding for the same period in 2016.&#160; Sales for the nine-month period ended September&#160;30, 2017, were $110.6 million compared to sales of $109.6 million for the same period in 2016.<br></p>  <p>&#8220;Sales in Q3 declined 4.1%, driven primarily by a 26% drop in automotive revenue as legacy programs wound down,&#8221; said R. Jeffrey Bailly, chairman and CEO.&#160; &#8220;Our 13-year program for Mercedes-Benz, previously scheduled to end in October, will now likely deliver modest sales into early 2018. At that point we will cease operations at our Georgia plant. Also, medical sales grew at a slower pace than usual, as two large customers added second suppliers to meet their internal risk mitigation requirements. Still, after excluding non-recurring items our operating income actually increased due to our continued improvement in operating efficiency.&#8221;</p>  <p>&#8220;The quarter included significant additions of new business and talent,&#8221; Bailly said. &#8220;For example, we completed the tooling phase of a very large new molded fiber program that will start production in Q4. In addition, we hired Chris Litterio, former managing director of Ruberto, Israel &amp; Weiner, as general counsel and senior vice president of human resources. Chris has advised us on many key issues over the years, and I am confident he will be a strong asset as we work to take our Company to the next level.&#8221;</p>  <p>"We are also making excellent progress on the acquisition front with a number of promising candidates currently under review,&#8221; Bailly added. &#8220;As we continue to qualify potential acquisitions, improve operating efficiency, and shift our book of business toward higher-margin applications, we remain excited about the growth potential of UFP Technologies.&#8221;</p>  <p>UFP Technologies is an innovative designer and custom converter of foams, plastics, and natural fiber materials, principally serving the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. The UFP team acts as an extension of its customers&#8217; in-house research, engineering, and manufacturing groups, working closely with them to solve their most complex product and packaging challenges.&#160;</p>  <p align="justify">This news release contains statements relating to expected financial performance and/or future business prospects, events and plans that are forward-looking statements.&#160; Such statements include, but are not limited to, statements about the Company&#8217;s prospects, statements about the Company&#8217;s growth potential and strategies for growth, including its acquisition strategies and other opportunities, statements regarding new hires and anticipated trends in the different markets in which the Company competes, anticipated advantages relating to the Company&#8217;s decisions to consolidate its facilities and the expected cost savings and efficiencies associated therewith, statements regarding upcoming plant closures, expectations regarding the manufacturing capacity and efficiencies of the Company, statements about the Company&#8217;s business opportunities and strategies regarding, and participation and growth in, multiple markets, and any indication that the Company may be able to sustain or increase its sales and earnings or sales and earnings growth rates.&#160; Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation risks and uncertainties associated with the qualification and identification of suitable acquisition candidates and the successful, efficient execution of acquisition transactions and integration of any such acquisition candidates, risks and uncertainties associated with plant closures and consolidations, and expected efficiencies from consolidating manufacturing, risks associated with the hiring of new personnel, risks associated with fluctuations in the markets in which the Company and its customers compete, including risks relating to the Company&#8217;s ability to maintain, grow and sustain growth in new or current markets, 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; Accordingly, actual results may differ materially.&#160; Readers are referred to the documents filed by the Company with the SEC, specifically the last reports on Forms 10-K and 10-Q.&#160; 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">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="vertical-align: bottom ; ">&#160;</td></tr></table> <p><strong>UFP Technologies, Inc.</strong><br>100 Hale Street<br>Newburyport, MA 01950 USA</p>  <p>www.ufpt.com<br>Contact: Ron Lataille<br>978-234-0926, rlataille@ufpt.com</p> </p><p></body></html>
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