UFP Technologies (UFPT) FY2019 results: revenue $198 million, up 4.2% on the year
UFP Technologies Inc. (UFPT) reported revenue of $198 million for fiscal 2019, the year ended 31 December 2019, up 4.2% on the year before. Net income was $20 million, up 38.0%, and diluted earnings per share $2.63. The figures are the company's own, from the 10-K it filed with the SEC on 13 March 2020.
Revenue
$198 million
+4.2% on the year
FY2012FY2019
Operating margin
12.5%
10.3% a year earlier
FY2012FY2019
Net income
$20 million
+38.0% on the year
FY2012FY2019
Diluted EPS
$2.63
+36.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
198
190
148
+4.2%
Cost of revenue
144
142
112
+1.6%
Gross profit
54.0
48.3
35.5
+11.7%
Gross margin
27.2%
25.4%
24.0%
Research and development
8.8
10.5
5.0
-16.2%
Selling, general and administrative
29.3
27.7
23.7
+5.8%
Operating income
24.7
19.6
11.7
+26.0%
Operating margin
12.5%
10.3%
7.9%
Interest expense
0.7
1.3
0.1
-48.9%
Pre-tax income
23.6
18.4
11.9
+28.5%
Income tax
3.9
4.1
2.6
-4.8%
Effective tax rate
16.5%
22.2%
22.3%
Net income
19.8
14.3
9.2
+38.0%
Net margin
10.0%
7.5%
6.2%
Diluted EPS
$2.63
$1.93
$1.26
+36.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
31.2
21.3
17.5
+46.5%
Capital expenditure
5.8
5.4
10.4
+6.4%
Free cash flow
25.5
15.9
7.1
+60.1%
Free cash flow margin
12.8%
8.3%
4.8%
Cash from investing
-5.8
-82.3
-10.4
Cash from financing
-24.9
26.3
-0.5
Depreciation and amortisation
8.2
7.8
5.6
+4.4%
Share-based compensation
1.6
1.2
1.1
+31.3%
Diluted shares, weighted
8m
7m
7m
+1.2%
Shares outstanding at period end
7m
7m
7m
+0.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
162
140
124
+15.3%
Debt
0.0
25.1
0.0
Operating lease liabilities
1.9
0.0
n/a
Finance lease liabilities
0.0
n/a
n/a
Other liabilities
24.8
24.0
14.5
+3.5%
Total liabilities and equity
189
190
138
-0.4%
Fixed assets
56.7
57.7
53.7
-1.6%
Goodwill
51.8
51.8
7.3
0.0%
Intangible assets
21.0
22.2
n/a
-5.7%
Cash and equivalents
3.7
3.2
38.0
+15.6%
Receivables
28.6
28.3
21.4
+1.2%
Inventory
18.3
19.6
12.9
-6.6%
Other assets
8.5
6.7
5.0
+27.0%
Total assets
189
190
138
-0.4%
10-K for the year ended 31 December 2019, filed 13 March 2020: the filing.