Company: UFPT
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050425
Chunk: 72

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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 Less: Interest(2,972)(2)Present value of lease liabilities$19,340 $49 

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(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 EndedNine Months EndedSeptember 30,September 30,2025202420252024Basic weighted average common shares outstanding7,712 7,674 7,703 7,666 Weighted average common equivalent shares due to dilutive restricted stock, stock options and RSUs68 98 80 97 Diluted weighted average common shares outstanding7,780 7,772 7,783 7,763 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 and nine months ended September 30, 2025, 2,958 shares were excluded from the computation of diluted earnings per share for this reason. For the three and nine months ended September 30, 2024, there were no stock awards excluded from the computation of diluted earnings per share for this reason.

(13)    Segment Data

The Company consists of a single operating and reportable segment and uses consolidated net income as its measure of segment profit and loss. The chief operating decision maker of the Company is the Chairman and Chief Executive Officer (CEO). The Chairman and CEO reviews consolidated operating results to make decisions about how to allocate resources to the segment and assess its performance as a whole. The Company has identified the following 

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significant segment expenses (SSEs) due to their relevance to the overall consolidated operating results (in thousands):Three months ended September 30,Nine months ended September 30,2025202420252024Net sales from external customers$154,558 $145,165 $453,882 $360,351 Significant segment expenses:Materials62,581 61,503 186,457 157,946 Salaries and