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Article: UFP Technologies reports on 1996 operations, Q4 earnings.
- Article from:
- Business Wire
- Article date:
- February 26, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GEORGETOWN, Mass.--(BUSINESS WIRE)--Feb. 26, 1997--
Annual operating income increases 91%
UFP Technologies Inc. (Nasdaq: UFPT), a manufacturer of engineered packaging and specialty products for consumer and industrial markets, today reported 91% growth in operating income in 1996, from $1.1 million in 1995 to $2.1 million in 1996. Net income in 1996 was $1,262,000 or $.26 per share, a 42% increase over net income of $888,000 or $.19 per share in 1995. Net sales for the year ending December 31, 1996 were $39.4 million, up 15% from sales of $34.1 million in 1995.
R. Jeffrey Bailly, President/CEO said, "We achieved significant ...