Company: UFPT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001171843-25-003049
Chunk: 17

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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.03

			4.00

			Weighted-average discount rate:

			Finance

			2.12
			%

			2.27
			%

			Operating

			4.97
			%

			3.73
			%

19

The aggregate future lease payments for leases as of March 31, 2025 are as follows (in thousands):

			Operating

			Finance

			Remainder of 2025

			$
			3,153

			$
			63

			2026

			3,850

			17

			2027

			3,422

			1

			2028

			2,327

			-

			2029

			1,537

			-

			Thereafter

			4,017

			-

			Total lease payments

			18,306

			81

			Less: Interest

			(2,592
			)

			(2
			)

			Present value of lease liabilities

			$
			15,714

			$
			79

			(12)

			Income Per Share

Basic income per share is based on the weighted average number of shares of common stock outstanding. Diluted income per share is based upon the weighted average number of common shares outstanding and dilutive common stock equivalent shares outstanding during each period.

The weighted average number of shares used to compute basic and diluted net income per share consisted of the following (in thousands):

			Three Months Ended

			March 31,

			2025

			2024

			Basic weighted average common shares outstanding

			7,688

			7,651

			Weighted average common equivalent shares due to dilutive restricted stock, stock options and RSUs

			88

			86

			Diluted weighted average common shares outstanding

			7,776

			7,737

The computation of diluted earnings per share excludes the effect of the potential exercise of stock awards, including stock options, when the average market price of the common stock is lower than the exercise price of the related options during the period. These outstanding stock awards are not included in the computation of diluted income per share because the effect would be antidilutive. For the three-month periods ended March 31, 202