<SEC-DOCUMENT>0001171843-18-003600.txt : 20180507
<SEC-HEADER>0001171843-18-003600.hdr.sgml : 20180507
<ACCEPTANCE-DATETIME>20180507163719
ACCESSION NUMBER:		0001171843-18-003600
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180504
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180507
DATE AS OF CHANGE:		20180507

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:		18811755

	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_050718.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): <!--May 4, 2018-->May 4, 2018 &#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-left:0in; margin-right:0in;"><font style="font-size:10pt;">On May 4, 2018, UFP Technologies, Inc. (the &#8220;Company&#8221;) issued a press release announcing its financial results for the first quarter ended March 31, 2018.&#160; A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein in its entirety by reference.</font></p>  <p style="margin-left:0in; text-indent:27pt; margin-right:0in;"><strong><em>Limitation on Incorporation by Reference.</em></strong>&#160;&#160;&#160;&#160;The information furnished in this Item 2.02, including the press release attached hereto as Exhibit 99.1, shall not be deemed &#8220;filed&#8221; for purposes of Section&#160;18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.</p>  <p style="margin-left:0in; text-indent:27pt; margin-right:0in;"><strong><em><font style="font-size:10pt; font-family:&quot;Times New Roman&quot;;">Cautionary Note Regarding Forward-Looking Statements. </font></em></strong><font style="font-size:10pt; font-family:&quot;Times New Roman&quot;;">&#160;&#160;&#160;&#160;Except for historical information contained in the press release attached as an exhibit hereto, the press release contains forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements.&#160; Please refer to the cautionary note in the press release regarding these forward-looking statements.</font></p> </font></p><p><font style="font-size: 10pt;"><strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 9.01. Financial Statements and Exhibits.</strong></font></p><p><font style="font-size: 10pt;">
 <p style="margin-left:0.6in; margin-right:0in;">(d) Exhibits.</p> <table style="border-collapse:collapse !important;" style="border-collapse: collapse; "><tr><td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><font style="font-size:10pt;">Exhibit</font><br /><font style="font-size:10pt;"><u>Number</u></font></strong></td><td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><font style="font-size:10pt;">&#160;</font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt;"><strong><u>Description</u></strong></font></td></tr><tr><td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><font style="font-size:10pt;"><font style="font-size:10pt;"><font style="font-size:10pt;"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">99.1</a></font></font></font></font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt;">&#160;</font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt;"><font style="font-size:10pt;"><font style="font-size:10pt;"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">Press release dated May 4, 2018 of UFP Technologies, Inc. announcing its financial results for the first quarter ended March 31, 2018.</a></font></font></font></font></td></tr></table></font></p><p><font style="font-size: 10pt;"></font></p><p><font style="font-size: 10pt;"></font></p><hr style="page-break-after: always;" noshade="noshade" /><p align="center"><font style="font-size: 10pt;"><strong><u>SIGNATURES</u></strong></font></p><p><font style="font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td valign="top" width="49%"><font style="font-size: 10pt;">&#160;</font></td><td style="font-size: 12pt;" colspan="2" valign="top"><font style="font-size: 10pt;"><strong>UFP TECHNOLOGIES, INC. <!--UFP Technologies, Inc.--></strong></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">Dated: May 7, 2018</font></td><td width="2%"><font style="font-size: 10pt;">By:&#160;</font></td><td style="text-decoration: underline;" width="49%"><font style="font-size: 10pt;">/s/ Ronald J. Lataille&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">Ronald J. Lataille</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">Chief Financial Officer and Senior Vice President </font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr></table><p /></body></html>
</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 Q1 2018 Results</strong></p><p style="text-align: center;" ></p><p>
 <p>NEWBURYPORT, Mass., May  04, 2018  (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 $1.8 million or $0.24 per diluted common share outstanding for its first quarter ended March 31, 2018.&#160; This compares to net income of $2.2&#160;million or $0.30 per diluted common share outstanding for the same period in 2017.&#160; Sales for the first quarter, including sales from Dielectrics, Inc. from February 1, 2018, the date it was acquired, were $42.9 million compared to 2017 first quarter sales of $37.1 million.&#160; The first quarter results included approximately $1.1 million of transaction expenses associated with the Dielectrics acquisition and approximately $600,000 in losses due to the closure of the Company&#8217;s factory in Georgia.&#160; Adjusting for the impact of these one-time items, diluted earnings per share would have been $0.41.&#160;<br ></p>  <p>&#8220;I am very pleased with our first quarter results,&#8221; said R. Jeffrey Bailly, chairman and CEO.&#160; &#8220;Excluding one-time acquisition expenses and losses related to our Georgia plant closing, operating income rose 33%. With these non-recurring costs behind us, we believe we are well positioned to further improve our results going forward.&#8221;</p>  <p>&#8220;As anticipated, our February 1 acquisition of Dielectrics made a significant contribution to our operating results,&#8221; Bailly added.&#160; &#8220;Dielectrics generated approximately $1.1 million in operating income in the two months after the acquisition, while improvements in the balance of UFP&#8217;s business helped offset the impact of closing the Georgia facility.&#8221;</p>  <p>&#8220;I remain very enthusiastic about Dielectrics&#8217; potential impact on our business, and customer feedback has been extremely positive,&#8221; Bailly said. &#8220;Dielectrics brings new capabilities and talent that I feel will increase our value significantly to both customers and shareholders. Looking ahead, we will focus on smoothly integrating Dielectrics and realizing the synergies of our combined companies. In addition, we will continue working to improve our overall operating efficiencies and to accelerate our internal growth.&#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. 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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 Company&#8217;s acquisition of Dielectrics, risks associated with the integration of the Dielectrics business, risks associated with the effect of the acquisition of Dielectrics on the Company&#8217;s earnings and the value of the acquisition to the Company&#8217;s customers and shareholders, risks associated with the Company&#8217;s 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 hiring new employees and expected advantages associated therewith, risks and uncertainties associated with plant closures and consolidations, including the closure of the Company&#8217;s Georgia plant, and expected efficiencies from consolidating manufacturing, risks associated with the Company&#8217;s entry into and growth in certain markets, risks that the Company may not be able to finalize anticipated new customer contracts, 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; 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; The forward-looking statements contained herein speak only of the Company&#8217;s expecta&#173;tions as of the date of this press release.&#160; The Company express&#173;ly disclaims any obligation or undertaking to release publicly any updates or revi&#173;sions to any such statement to reflect any change in the Company&#8217;s expectations or any change in events, conditions, or circumstances on which any such statement is based.</p> <table style="width:322; border-collapse:collapse !important;" style="border-collapse: collapse; "><tr><td style="vertical-align: bottom ; "><strong>UFP Technologies, Inc.</strong>&#160;</td><td style="vertical-align: bottom ; ">www.ufpt.com</td></tr><tr><td style="vertical-align: bottom ; ">100 Hale Street&#160;</td><td style="vertical-align: bottom ; ">Contact: Ron Lataille</td></tr><tr><td style="vertical-align: bottom ; 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text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160; 4,552</td></tr><tr><td style="vertical-align: bottom ; ">Total liabilities</td><td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160; 68,203</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160; 14,495</td></tr><tr><td style="vertical-align: bottom ; ">Total equity</td><td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ; 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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
