UFP Technologies, Inc. (Nasdaq: UFPT), an innovative designer and custom manufacturer of components, subassemblies, products, and packaging primarily for the medical market, announces its Q2 2024 results. “I am very pleased with our Q2 results,” said R. Jeffrey Bailly, Chairman & CEO. “Sales grew 10.1%, driven by strength in the robotic surgery and infection prevention markets. Gross margins grew to 30.0%, due in part to improved manufacturing efficiency and contained fixed overhead costs. And net income grew 14.0% to $13.6 million.” “We also completed three acquisitions between June 24 and July 15: Marble Medical, AJR Enterprises, and Welch Fluorocarbon. We expect that these collectively will add an estimated $90 million in revenue and $20 million in EBITDA,” said Bailly.
Read the full article: UFP Technologies Announces Acquisitions //
Source: https://ufpt.com/news/ufp-technologies-announces-q2-2024-results/