UFP Technologies (UFPT) FY2018 results: revenue $190 million, up 28.8% on the year
UFP Technologies Inc. (UFPT) reported revenue of $190 million for fiscal 2018, the year ended 31 December 2018, up 28.8% on the year before. Net income was $14 million, up 55.4%, and diluted earnings per share $1.93. The figures are the company's own, from the 10-K it filed with the SEC on 15 March 2019.
Revenue
$190 million
+28.8% on the year
FY2011FY2018
Operating margin
10.3%
7.9% a year earlier
FY2011FY2018
Net income
$14 million
+55.4% on the year
FY2011FY2018
Diluted EPS
$1.93
+53.2% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
190
148
146
+28.8%
Cost of revenue
142
112
111
+26.5%
Gross profit
48.3
35.5
34.6
+36.1%
Gross margin
25.4%
24.0%
23.7%
Research and development
10.5
5.0
1.3
+110.0%
Selling, general and administrative
27.7
23.7
24.1
+16.6%
Operating income
19.6
11.7
12.2
+67.7%
Operating margin
10.3%
7.9%
8.4%
Interest expense
1.3
0.1
0.1
+2,540.0%
Pre-tax income
18.4
11.9
12.3
+55.2%
Income tax
4.1
2.6
4.3
+54.5%
Effective tax rate
22.2%
22.3%
35.3%
Net income
14.3
9.2
8.0
+55.4%
Net margin
7.5%
6.2%
5.5%
Diluted EPS
$1.93
$1.26
$1.10
+53.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
21.3
17.5
9.3
+22.0%
Capital expenditure
5.4
10.4
7.2
-47.7%
Free cash flow
15.9
7.1
2.1
+124.2%
Free cash flow margin
8.3%
4.8%
1.4%
Cash from investing
-82.3
-10.4
-7.2
Cash from financing
26.3
-0.5
-0.6
Depreciation and amortisation
7.8
5.6
5.6
+39.0%
Share-based compensation
1.2
1.1
1.1
+13.5%
Diluted shares, weighted
7m
7m
7m
+1.3%
Shares outstanding at period end
7m
7m
7m
+2.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
140
124
113
+13.5%
Debt
25.1
0.0
0.9
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
24.0
14.5
14.0
+65.6%
Total liabilities and equity
190
138
128
+37.2%
Fixed assets
57.7
53.7
48.5
+7.5%
Goodwill
51.8
7.3
7.3
+608.0%
Intangible assets
22.2
n/a
0.3
Cash and equivalents
3.2
38.0
31.4
-91.5%
Receivables
28.3
21.4
21.2
+32.5%
Inventory
19.6
12.9
14.2
+52.2%
Other assets
6.7
5.0
5.0
+34.2%
Total assets
190
138
128
+37.2%
10-K for the year ended 31 December 2018, filed 15 March 2019: the filing.