NEWBURYPORT, Mass. (AP) — NEWBURYPORT, Mass. (AP) — UFP Technologies Inc. (UFPT) on Tuesday reported fourth-quarter profit of $17.6 million.
On a per-share basis, the Newburyport, Massachusetts-based company said it had net income of $2.25. Earnings, adjusted for one-time gains and costs, were $2.44 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.
The packaging company and component manufacturer posted revenue of $148.9 million in the period.
For the year, the company reported profit of $68.3 million, or $8.75 per share. Revenue was reported as $602.8 million.
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