<PAGE>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                    Form 10-Q


[X]   Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
      Exchange Act of 1934


                  For the quarterly period ended June 30, 2003

                                       or

[ ]   Transition Report Pursuant to Section 13 or 15 (d) of the Securities
      Exchange Act of 1934

                For the Transition Period from        to        .
                                               ------    -------

                         Commission file number 0-21018


                            TUFCO TECHNOLOGIES, INC.

             Delaware                                  39-1723477
----------------------------------          ---------------------------------
  (State of other jurisdiction             (I.R.S. Employer Identification No.)
of incorporation of organization)

                     PO Box 23500, Green Bay, WI 54305-3500
--------------------------------------------------------------------------------
           (Address of principal executive offices including zip code)

                                 (920) 336-0054
                                 --------------
              (Registrant's telephone number, including area code)

         Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

         Yes [X]          No [ ]

   Indicate by check mark whether the registrant is an accelerated filer (as
 defined in Rule 12b-2 of the Exchange Act).

         Yes  [ ]         No [X]

         Indicate the number of shares outstanding of each or the issuer's
classes of common stock, as of the latest practicable date.

              Class                           Outstanding as of August 13, 2003
              -----                           ---------------------------------
Common Stock, par value $0.01 per share                   4,592,344


                                       1
<PAGE>
                    TUFCO TECHNOLOGIES, INC. AND SUBSIDIARIES

                                      INDEX

<Table>
<Caption>
                                                                                                              Page
                                                                                                             Number


<S>                                                                                                          <C>
PART I:  FINANCIAL INFORMATION

Item 1.  Condensed Consolidated Financial Statements

                  Condensed Consolidated Balance Sheets as of
                  June 30, 2003 and September 30, 2002                                                         3

                  Condensed Consolidated Statements of Operations for the three
                  months and nine months ended June 30, 2003 and 2002                                          4

                  Condensed Consolidated Statements of Cash Flows for the
                  nine months ended June 30, 2003 and 2002                                                     5

                  Notes to Condensed Consolidated Financial Statements                                         6

Item 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations                                                                  13

Item 3.  Quantitative and Qualitative Disclosures About Market Risk                                           18

Item 4.  Controls and Procedures                                                                              18

PART II: OTHER INFORMATION                                                                                    19

SIGNATURES                                                                                                    20
</Table>


                                       2
<PAGE>

PART I.  FINANCIAL INFORMATION

ITEM 1.  CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

                    TUFCO TECHNOLOGIES, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (UNAUDITED)

<Table>
<Caption>
                                                                             June  30,         September 30,
                                                                               2003                2002
                                                                           ------------        ------------
<S>                                                                        <C>                 <C>
                                              Assets

CURRENT ASSETS:
   Cash and cash equivalents .......................................       $  3,564,151        $    251,346
   Restricted cash .................................................                 --             100,000
   Accounts receivable, net ........................................          6,214,848          11,121,227
   Inventories .....................................................          4,248,457           6,585,100
   Prepaid expenses and other current assets .......................          1,274,992             743,281
   Deferred income taxes ...........................................            832,927             832,927
   Income taxes receivable .........................................            159,570             133,242
                                                                           ------------        ------------
        Total current assets .......................................         16,294,945          19,767,123


PROPERTY, PLANT AND EQUIPMENT-Net ..................................         14,883,037          16,304,848
GOODWILL -Net ......................................................          7,211,575          10,345,213
OTHER ASSETS- Net ..................................................            447,575             749,959

                                                                           ------------        ------------
TOTAL ..............................................................       $ 38,837,132        $ 47,167,143
                                                                           ============        ============


                      Liabilities and Stockholders' Equity

CURRENT LIABILITIES:
   Current portion of long-term debt ...............................       $    250,000        $    922,726
   Accounts payable ................................................          2,765,330           5,279,556
   Accrued payroll, vacation and payroll taxes .....................            852,559             935,973
   Other current liabilities .......................................            681,979           1,326,075
                                                                           ------------        ------------
        Total current liabilities ..................................          4,549,868           8,464,330

LONG-TERM DEBT- Less current portion ...............................            500,000           5,233,882
DEFERRED INCOME TAXES ..............................................            686,357             660,640

STOCKHOLDERS' EQUITY:
   Common Stock; $.01 par value; 9,000,000 shares authorized;
       4,706,341 shares issued .....................................             47,063              47,063
   Additional paid-in capital ......................................         25,088,631          25,088,631
   Retained earnings ...............................................          8,686,338           8,404,112
   Treasury stock, 105,997 and 78,497 common shares, at cost .......           (721,125)           (534,045)
   Stockholder notes receivable ....................................                 --            (157,246)
   Accumulated other comprehensive loss, net of tax ................                 --             (40,224)

                                                                           ------------        ------------
        Total stockholders' equity .................................         33,100,907          32,808,291
                                                                           ------------        ------------
   TOTAL ...........................................................       $ 38,837,132        $ 47,167,143
                                                                           ============        ============
</Table>


            See notes to condensed consolidated financial statements.


                                       3
<PAGE>

                    TUFCO TECHNOLOGIES, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<Table>
<Caption>
                                                      THREE MONTHS ENDED                      NINE MONTHS ENDED
                                                           June 30,                               June  30,
                                               --------------------------------        --------------------------------
                                                   2003                2002                2003                2002
                                               ------------        ------------        ------------        ------------
<S>                                            <C>                 <C>                 <C>                 <C>
NET SALES ..............................       $ 14,271,525        $ 13,688,942        $ 39,595,123        $ 37,541,104
COST OF SALES ..........................         11,918,246          10,941,117          34,202,135          32,184,722
                                               ------------        ------------        ------------        ------------

GROSS PROFIT ...........................          2,353,279           2,747,825           5,392,988           5,356,382

OPERATING EXPENSES:

Selling, general & administrative ......          1,398,079           1,020,823           3,646,684           2,993,324
Employee severance costs ...............            163,587                  --             209,871             209,324
Facility restructuring costs ...........                 --                  --                  --             232,958
Property & inventory write downs .......                 --                  --                  --             311,263
Loss(gain)loss on asset sales ..........             19,769               1,437              51,024             (27,655)
                                               ------------        ------------        ------------        ------------

OPERATING INCOME .......................            771,844           1,725,565           1,485,409           1,637,168
OTHER INCOME (EXPENSE):
   Interest expense ....................            (10,703)           (104,360)           (187,991)           (364,038)
   Interest and other income(expense) ..            (24,751)             (2,111)            (17,145)             20,907
                                               ------------        ------------        ------------        ------------

INCOME FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES .........            736,390           1,619,094           1,280,273           1,294,037
INCOME TAX EXPENSE .....................            308,787             737,056             533,216             629,276
                                               ------------        ------------        ------------        ------------
INCOME FROM CONTINUING OPERATIONS ......            427,603             882,038             747,057             664,761

LOSS FROM DISCONTINUED OPERATIONS:
  Net loss from operations of
  discontinued segment, net of tax .....            (57,975)           (103,962)           (220,426)           (643,314)
  Net loss from sale of discontinued
  operations, net of tax ...............                 --                  --            (244,406)                 --
                                               ------------        ------------        ------------        ------------
LOSS BEFORE ACCOUNTING CHANGE ..........            369,628             778,076             282,225              21,447
CUMULATIVE EFFECT OF ACCOUNTING CHANGE .                 --                  --                  --          (4,651,591)
                                               ------------        ------------        ------------        ------------
NET INCOME (LOSS) ......................       $    369,628        $    778,076        $    282,225        $ (4,630,144)
                                               ============        ============        ============        ============

BASIC EARNINGS (LOSS) PER SHARE:
  Income from Continuing Operations ....       $       0.09        $       0.19        $       0.16        $       0.14
Net Loss from Operations of Discontinued
     Segment ...........................       $      (0.01)       $      (0.02)       $      (0.05)       $      (0.13)
Net Loss from Sale of Discontinued
     Operations ........................       $         --        $         --        $      (0.05)       $         --
                                               ------------        ------------        ------------        ------------
Income (Loss) before Accounting Change .       $       0.08        $       0.17        $       0.06        $       0.01
Cumulative Effect of Accounting Change .       $         --        $         --        $         --        $      (1.01)
                                               ------------        ------------        ------------        ------------
Net Income (Loss) ......................       $       0.08        $       0.17        $       0.06        $      (1.00)

DILUTED EARNINGS (LOSS) PER SHARE:
  Income from Continuing Operations ....       $       0.09        $       0.19        $       0.16        $       0.14
Net Loss from Operations of Discontinued
     Segment ...........................       $      (0.01)       $      (0.02)       $      (0.05)       $      (0.13)
Net Loss from Sale of Discontinued
     Operations ........................       $         --        $         --        $      (0.05)       $         --
                                               ------------        ------------        ------------        ------------
Income (Loss) before Accounting Change .       $       0.08        $       0.17        $       0.06        $       0.01
Cumulative Effect of Accounting Change .       $         --        $         --        $         --        $      (1.01)
                                               ------------        ------------        ------------        ------------
Net Income (Loss) ......................       $       0.08        $       0.17        $       0.06        $      (1.00)
WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING:
    Basic ..............................          4,618,677           4,627,844           4,624,788           4,627,844
    Diluted ............................          4,642,807           4,629,754           4,634,272           4,627,844
</Table>

            See notes to condensed consolidated financial statements.


                                       4
<PAGE>
                    TUFCO TECHNOLOGIES, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (UNAUDITED)

<Table>
<Caption>
                                                                           NINE MONTHS ENDED
                                                                                June 30,
                                                                    --------------------------------
                                                                        2003                2002
                                                                    ------------        ------------
<S>                                                                 <C>                 <C>
OPERATING ACTIVITIES
   Net income from continuing operations ....................       $    747,057        $    664,761
   Noncash items in net income from continuing operations

      Depreciation and amortization .........................          2,143,733           2,182,777
      Loss (gain) on asset disposals-net ....................             51,024             (27,655)
      Asset impairment write-down ...........................                 --             311,263
   Changes in operating working capital:
      Accounts receivable ...................................           (368,963)            (72,640)
      Inventories ...........................................           (684,508)            603,713
      Prepaid expenses and other assets .....................           (529,373)            194,689
      Accounts payable ......................................         (1,244,685)          2,472,328
      Accrued and other current liabilities .................           (309,376)           (413,745)
      Income taxes payable & receivable .....................            136,997             123,956
                                                                    ------------        ------------

   Net cash provided (used) by operations activities from
    Continuing operations ...................................            (58,094)          6,039,447

INVESTING ACTIVITIES
   Additions to property, plant and equipment ...............         (2,233,176)           (678,825)
   Proceeds from disposals of property, plant and equipment .             68,110             581,716
   Increase in advances to stockholders .....................            (13,854)            (15,454)
   Decrease in restricted cash ..............................            100,000              32,739
                                                                    ------------        ------------

   Net cash used by investing activities
    from continuing operations ..............................         (2,078,920)            (79,824)

FINANCING ACTIVITIES
   Repayment of long-term debt ..............................         (8,215,027)         (4,972,074)
   Issuance of long-term debt ...............................          2,874,360                  --
   Purchase of Treasury Stock ...............................           (187,080)
   Collections on stockholder notes receivable ..............            157,246             123,510
                                                                    ------------        ------------

   Net cash used by financing activities from continuing
    operations ..............................................         (5,370,501)         (4,848,564)
                                                                    ------------        ------------

Net cash provided from discontinued operations:
    Proceeds from sale of discontinued operations (net
     of transaction costs) ..................................         11,660,603                  --
    Net cash used by operating activities of discontinued
     operations .............................................           (840,283)         (1,040,330)
                                                                    ------------        ------------
    Net cash provided (used) by discontinued operations .....         10,820,320          (1,040,330)

NET INCREASE IN CASH AND CASH EQUIVALENTS ...................          3,312,805              70,729
CASH AND CASH EQUIVALENTS:
 Beginning of period ........................................            251,346             521,453
                                                                    ------------        ------------
 End of period ..............................................       $  3,564,151        $    592,182
                                                                    ============        ============
</Table>


            See notes to condensed consolidated financial statements.


                                       5
<PAGE>

                    TUFCO TECHNOLOGIES, INC. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
           FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2003 AND 2002
                                   (UNAUDITED)

 1.      BASIS OF PRESENTATION

         The accompanying condensed consolidated financial statements have been
         prepared by Tufco Technologies, Inc., (the "Company") pursuant to the
         rules and regulations of the Securities and Exchange Commission ("SEC")
         and, in the opinion of the Company, include all adjustments necessary
         for a fair statement of results for each period shown (unless otherwise
         noted herein, all adjustments are of a normal recurring nature) (See
         Note 6). Operating results for the three-month and nine-month periods
         ended June 30, 2003 are not necessarily indicative of results expected
         for the remainder of the year. Certain information and note disclosures
         normally included in financial statements prepared in accordance with
         accounting principles generally accepted in the United States of
         America have been condensed or omitted pursuant to such SEC rules and
         regulations. The Company believes that the disclosures made are
         adequate to prevent the financial information given from being
         misleading. The Company's condensed consolidated balance sheet at
         September 30, 2002, was derived from the audited consolidated balance
         sheet. It is suggested that these condensed consolidated financial
         statements be read in conjunction with the audited consolidated
         financial statements and notes thereto included in the Company's latest
         Annual Report on Form 10-K.


         RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

         In October 2001, the Financial Accounting Standards Board (FASB) issued
         Statement of Financial Accounting Standards ("SFAS") No. 144,
         "Accounting for the Impairment or Disposal of Long-Lived Assets". SFAS
         No. 144 addresses financial accounting and reporting for the impairment
         or disposal of long-lived assets. SFAS No. 144 supersedes SFAS No. 121,
         "Accounting for the Impairment of Long-Lived Assets and for Long-Lived
         Assets to Be Disposed Of", and the accounting and reporting provisions
         of Accounting Principles Board Opinion No. 30, "Reporting the Results
         of Operations - Reporting the Effects of Disposal of a Segment of a
         Business, and Extraordinary, Unusual and Infrequently Occurring Events
         and Transactions". SFAS No. 144 also amends Accounting Research
         Bulletin No. 51, "Consolidated Financial Statements", to eliminate the
         exception to consolidation for a subsidiary for which control is likely
         to be temporary. SFAS No. 144 requires that one accounting model be
         used for long-lived assets to be disposed of by sale, whether
         previously held and used or newly acquired. SFAS No. 144 also broadens
         the presentation of discontinued operations to include more disposal
         transactions. The Company adopted SFAS No. 144, effective October 1,
         2002. Adoption of SFAS No. 144 did not have a material impact on the
         Company's financial position or results of operations. The sale and
         discontinued operations of the Paint Sundries segment in the second
         quarter 2003 have been recorded in accordance with SFAS No. 144.

         SFAS No. 146, "Accounting for Costs Associated with Exit or Disposal
         Activities", was issued by the FASB in July 2002, requiring companies
         to recognize costs associated with exit or disposal activities when
         they are incurred rather than at the date of a commitment to an exit or
         disposal plan. SFAS No. 146 supercedes EITF Issue No. 94-3, "Liability
         Recognition for Certain Employee Termination Benefits and Other Costs
         to Exit an Activity (including Certain Cost Incurred in a
         Restructuring)". SFAS No. 146 is to be applied prospectively to exit or
         disposal activities initiated after December 31, 2002. The relocation
         and closing of the Dallas Corporate services office has been recorded
         in accordance with SFAS No. 146.


                                       6
<PAGE>

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS--(CONTINUED).
         RECENTLY ISSUED ACCOUNTING PRONOUNCEMENT--(CONTINUED).

         On December 31, 2002, the FASB issued SFAS No. 148, "Accounting for
         Stock-Based Compensation-Transition and Disclosure". SFAS No. 148
         amends SFAS No. 123, "Accounting for Stock-Based Compensation" and
         provides alternative methods of transition for a voluntary change to
         the fair value based method of accounting for stock-based employee
         compensation. In addition, SFAS No. 148 amends the disclosure
         requirements of SFAS No. 123 to require disclosures in interim
         financial statements of the effects of stock-based compensation. The
         interim disclosure requirements of SFAS No. 148 are effective for
         periods beginning after December 15, 2002. The Company's stock-based
         compensation related to employees and non-employee directors is
         recognized using the intrinsic value method in accordance with
         Accounting Principles Board Opinion No. 25, "Accounting for Stock
         Issued to Employees," and thus there is no compensation expense for
         options granted with exercise prices equal to the fair value of the
         Company's common stock on the date of the grant.

         In November 2002, FASB issued Interpretation ("FIN") No. 45,
         "Guarantor's Accounting and Disclosure Requirements for Guarantees,
         Including Guarantees of Indebtedness of Others". FIN No. 45 requires
         that a guarantor must recognize, at the inception of a guarantee, a
         liability for the fair value of the obligation that is has undertaken
         in issuing a guarantee. FIN No. 45 also addresses the disclosure
         requirements that a guarantor must include in its financial statements
         for guarantees issued. The disclosure requirements in this
         interpretation are effective for financial statements ending after
         December 15, 2002. The initial recognition and measurement provisions
         of this interpretation are applicable on a prospective basis to
         guarantees issued or modified after December 31, 2002. The Company has
         no guarantees as defined in FIN No. 45.

         RECLASSIFICATIONS

         Certain amounts previously reported have been reclassified to conform
         to the current presentation.

         EARNINGS PER SHARE

         As of June 30, 2003 and 2002, options representing 453,700 and 548,900
         shares of common stock, respectively, were outstanding. For the three
         month period ended June 30, 2003 and 2002 options in the amount of
         24,130 and 1,910, respectively, were included in the diluted earnings
         per share calculations. For the nine months ended June 30, 2003, 9,484
         options were included in diluted earnings per share. For the nine
         months ended June 30, 2002, all of the existing options were excluded
         from diluted earnings per share because they were anti-dilutive.

         STOCK OPTION PLAN

         The Company applies APB No. 25 and related interpretations in
         accounting for its stock option plans. No compensation cost has been
         recognized for the Company's stock option plans because the quoted
         market price of the common stock at the date of grant was not in excess
         of the option exercise price. SFAS No. 123 prescribes a method to
         record compensation cost at the fair value of the options granted.


                                       7
<PAGE>
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS--(CONTINUED).
         EARNINGS PER SHARE--(CONTINUED)

         Pro forma disclosures as if the Company had adopted the cost
         recognition requirements under SFAS No. 123 for the three and nine
         months ended June 30, 2003 and 2002 are presented below.

<Table>
<Caption>
                                      Three Months Ended                      Nine Months Ended
                                           June 30,                                June 30,
                                  2003                2002                 2003                2002
                              -------------       -------------       -------------       -------------
<S>                           <C>                 <C>                 <C>                 <C>
Net Income (loss)
  As reported                 $     369,628       $     778,076       $     282,225       $  (4,630,144)
Less: Stock based
Compensation expense
Applying fair value
Based method, net of
Related tax effects                  14,428                   0              72,286             159,436
                              -------------       -------------       -------------       -------------
  Pro forma net
   Income                     $     355,200       $     778,076       $     209,939       $  (4,789,580)
                              =============       =============       =============       =============
Basic earnings per
share:
  As reported                 $        0.08       $        0.17       $        0.06       $       (1.00)
  Pro forma                            0.08                0.17                0.05               (1.03)
Diluted earnings per
share:
  As reported                 $        0.08       $        0.17       $        0.06       $       (1.00)
  Pro forma                            0.08                0.17                0.05               (1.03)
</Table>

2.       GOODWILL

         The Company adopted SFAS No. 142, "Goodwill and Other Intangible
         Assets" effective October 1, 2001. Under SFAS No. 142, goodwill and
         certain other intangible assets are no longer systematically amortized
         but instead are reviewed for impairment and any excess in carrying
         value over the estimated fair value is charged to results of
         operations. The previous method for determining impairment prescribed
         by SFAS No. 121, "Accounting for the Impairment of Long-Lived Assets
         and for Long-Lived Assets to be Disposed Of", utilized an undiscounted
         cash flow approach for the initial impairment assessment, while SFAS
         No. 142 utilizes a fair value approach. The goodwill impairment charge
         discussed below is the result of the change in the accounting method
         for determining the impairment of goodwill.

         In connection with the adoption of SFAS No. 142, the Company allocated
         goodwill to each of its reporting units and tested this goodwill for
         impairment as of the beginning of fiscal 2002. The Company completed
         the transitional goodwill impairment test during the second quarter of
         fiscal 2002. As a result, an impairment charge of $ 6.4 million ($4.7
         million after tax, or $1.01 per diluted share) was recorded related to
         goodwill at certain Business Imaging and Paint Sundries reporting
         units. The fair value of the reporting units was estimated using a
         combination of valuation techniques including the expected present
         value of future cash flows and prices of comparable businesses.

         The charges have been recorded as the cumulative effect of accounting
         change in the amount of $6.4 million ($4.7 million after tax, or $1.01
         per share) as of October 1, 2001 in the accompanying condensed
         consolidated statements of operations.

         The annual test for impairment of goodwill was done during the third
         quarter of fiscal 2003 at the reporting unit level. The fair value of
         the reporting units was calculated using a combination of an income and
         market approach with the conclusion that no impairment existed as of
         October 31, 2002.


                                       8
<PAGE>
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS--(CONTINUED).
         GOODWILL - (CONTINUED).

         The changes in the carrying amount of goodwill for the nine months
         ended June 30, 2003 are as follows:

<Table>
<Caption>
                                        Contract          Business           Paint
                                      Manufacturing        Imaging          Sundries            TOTAL
<S>                                   <C>                <C>               <C>               <C>
Balance as of September 30, 2002       $ 4,281,759       $ 2,929,816       $ 3,133,638       $10,345,213
Sale of Segment  . . . . . . . .                --                --         3,133,638         3,133,638
                                       -----------       -----------       -----------       -----------

Balance as of June 30, 2003  .         $ 4,281,759       $ 2,929,816       $        --       $ 7,211,575
                                       ===========       ===========       ===========       ===========
</Table>

3.       INVENTORIES

         Inventories consist of the following:

<Table>
<Caption>
                            June 30,           September 30,
                             2003                   2002
                        ---------------       ---------------
<S>                     <C>                   <C>
Raw materials           $     3,375,158       $     4,838,569
Finished goods                  873,299             1,746,531
                        ---------------       ---------------

Total inventories       $     4,248,457       $     6,585,100
                        ===============       ===============
</Table>

4.       SEVERANCE COSTS

         Pursuant to authorization by the Board of Directors, the Company
         formalized a plan in March 2003 to relocate the accounting and
         information technology departments from the Dallas, TX location to the
         Green Bay, WI Corporate office. As a result, the Company provided
         one-time termination benefits payable August 31, 2003 for employees in
         the Dallas office. The liability for the termination benefits is being
         recognized ratably over the future service period as required by SFAS
         No. 146. In compliance with SFAS 146, $164,000 of employee termination
         benefits payable August 31, 2003 were recorded in the three months
         ended June 30, 2003 as employment severance costs in the consolidated
         statements of operations. For the nine months ending June 30, 2003
         severance costs also included costs related to the elimination of
         several salary positions. The 2002 expense relates primarily to
         severance pursuant to an employment agreement with a former executive.

         Severance costs incurred for the fiscal year 2003 are as follows:

         Accrued Employee Severance Costs       $ 209,871
         Severance Payouts                        (69,871)
                                                ---------
         Balance as of June 30, 2003            $ 140,000

         Total costs for these benefits are expected to be $275,000 with
         approximately $135,000 to be incurred in the fiscal fourth quarter of
         2003.

5.       RESTRUCTURING COSTS AND ASSET WRITE DOWNS

         During the nine months ended June 30, 2002, the Company incurred
         approximately $544,000 of costs (including approximately $311,000
         related to impaired asset write-downs) related to restructuring a
         component of the Business Imaging segment completed in fiscal year
         2002. No such costs were incurred in 2003.


                                       9
<PAGE>

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS-- (CONTINUED).

6.       DISCONTINUED OPERATIONS

         The condensed financial statements present the Paint Sundries segment
         as a discontinued operation as a result of the sale of the business on
         March 31, 2003 pursuant to authorization of the Board of Directors on
         January 27, 2003. The Company sold the assets and business of the Paint
         Sundries segment for $12.3 million in cash (subject to adjustment based
         on audited working capital) to Trimaco, LLC and its affiliate. The sale
         included all Paint Sundries segment assets, including the Manning,
         South Carolina manufacturing facility. Prior period amounts have been
         restated, including the reallocation of general overhead charges. The
         Company recorded a $0.4 million loss ($0.2 million after tax) on the
         sale of the Paint Sundries segment which includes a $0.1 million gain
         on the sale of the assets offset by $0.5 million of fees and expenses
         associated with the sale. The Company will provide certain accounting
         and information technology services to Trimaco, LLC during the
         transition period for an agreed upon fee.

         Operating results from discontinued operations were as follows:

                   Three Months Ended              Nine Months Ended
                        June 30,                        June 30,
                  2003            2002            2003            2002
              ------------    ------------    ------------    ------------

Net sales     $         --    $  6,859,237    $  9,708,068    $ 18,677,462

Loss before        (99,841)       (190,835)       (371,804)       (896,916)
income tax

         The components of disposed assets and liabilities were as follows:

Accounts Receivable (net of reserve)          $  4,872,707
Inventory (net of reserve)                       3,122,830
Equipment                                          328,090
Building                                         2,448,916
Goodwill                                         3,133,638
Other assets                                       292,500
Accounts payable                                (1,848,388)
Other accruals                                    (281,959)
                                              ------------
Total net book value of disposed assets       $ 12,068,334

7.       COMPREHENSIVE INCOME (LOSS)

         Comprehensive income for the three months ended June 30, 2003 was
         $384,992 compared to comprehensive income of $779,648 for the three
         months ended June 30, 2002.

         Comprehensive income, for the nine months ended June 30, 2003 was
         $321,674 compared to comprehensive loss of $(4,602,442), (which
         includes the SFAS No. 142 impairment loss of $4.7 million, net of tax),
         for the nine months ended June 30, 2002. A loss on the change in fair
         value of a swap contract in the amount of $27,000 which was cancelled
         in May 2003 was recorded in the other income and expense section of the
         consolidated statements of operations.


                                       10
<PAGE>

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS-- (CONTINUED).
         Components of Comprehensive Income are as follows:

<Table>
<Caption>
                                                       Three Months Ended                   Nine Months Ended
                                                            June 30,                             June 30,
                                                    2003                2002             2003               2002
                                                 -----------        -----------       -----------        -----------
<S>                                              <C>                <C>               <C>                <C>
Net income (loss)                                $   369,628        $   778,076       $   281,450        $(4,630,144)

   Other comprehensive income, net of tax:

   Changes in fair value
   of interest rate
   swap contract                                        (411)             1,572            23,286             27,702

   Reclassification
   adjustment to interest
   rate swap contract                                 16,550                  0            16,938                  0
                                                 -----------        -----------       -----------        -----------
   Comprehensive income (loss)                   $   384,992        $   779,648       $   321,674        $(4,602,442)
                                                 ===========        ===========       ===========        ===========
</Table>

 8.      SEGMENT INFORMATION

         The Company manufactures and distributes business forms, custom
         paper-based non-woven products, and provides contract manufacturing,
         specialty printing and related services on these types of products. In
         second quarter of fiscal 2003, the Company sold its Paint Sundries
         segment, and presented the financials related to this segment as
         discontinued operations. Prior period amounts have been restated,
         including the intersector information to reflect the sale of this
         business. The Company separates its current operations and prepares
         information for management use by the market segments aligned with the
         Company's products and services. Such market information is summarized
         below. The Contract Manufacturing segment provides services to large
         national consumer products companies while the Business Imaging segment
         manufactures and distributes paper good products. Accounts receivable
         and certain other assets historically have not been assignable to
         specific segments and, therefore, are included in the intersector
         column below.

<Table>
<Caption>
  THREE MONTHS ENDED                CONTRACT           BUSINESS
    JUNE  30, 2003                MANUFACTURING         IMAGING           INTERSECTOR        CONSOLIDATED
<S>                               <C>                 <C>                <C>                 <C>
 Net Sales                         $  8,333,294       $  5,938,231       $         --        $ 14,271,525

Gross Profit                          1,604,543            748,736                 --           2,353,279

Employee Severance                           --                 --            163,587             163,587

Operating Income (loss)               1,167,977            313,061           (709,194)            771,844

Interest Expense                             --                 --             10,703              10,703

Income Tax Expense (Benefit)                 --                 --            308,787             308,787

Assets:
    Inventories                       1,851,489          2,396,968                 --           4,248,457
    Property, plant and
      equipment-net                  10,250,102          3,265,798          1,367,137          14,883,037
   Goodwill-net                       4,281,759          2,929,816                 --           7,211,575
   Accounts receivable
      and other assets                                                     12,489,063          12,489,063
                                   ------------       ------------       ------------        ------------

  Total assets                     $ 16,383,350       $  8,592,582       $ 13,861,200        $ 38,837,132
                                   ============       ============       ============        ============
</Table>


                                       11
<PAGE>
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS-- (CONTINUED).

SEGMENT INFORMATION-CONTINUED

<Table>
<Caption>
 THREE MONTHS ENDED                 CONTRACT            BUSINESS            PAINT
  JUNE 30, 2002                   MANUFACTURING          IMAGING           SUNDRIES         INTERSECTOR         CONSOLIDATED
<S>                               <C>                 <C>                <C>                <C>                 <C>
Net Sales                          $  8,146,286       $  5,542,656       $         --       $         --        $ 13,688,942

Gross Profit                          2,163,278            584,547                 --                 --           2,747,825

Operating Income (loss)               1,791,700             89,485                 --           (155,620)          1,725,565

Interest Expense                             --                 --                 --            104,360             104,360

Income Tax Expense (Benefit)                 --                 --                 --            737,056             737,056

Assets:
    Inventories                       1,424,619          2,213,589          3,802,499                 --           7,440,707
    Property, plant and
      equipment-net                   8,825,552          4,202,743          1,786,910          2,042,854          16,858,059
   Goodwill-net                       4,281,759          2,929,816          3,133,638                 --          10,345,213
    Accounts receivable
      and other assets                                                                        15,479,765          15,479,765
                                   ------------       ------------       ------------       ------------        ------------
  Total assets                     $ 14,531,930       $  9,346,148       $  8,723,047       $ 17,522,619        $ 50,123,744
                                   ============       ============       ============       ============        ============
</Table>

<Table>
<Caption>
 NINE MONTHS ENDED                  CONTRACT           BUSINESS
  JUNE 30, 2003                   MANUFACTURING         IMAGING          INTERSECTOR         CONSOLIDATED
<S>                               <C>                 <C>                <C>                 <C>
Net Sales                          $ 21,824,083       $ 17,771,040       $         --        $ 39,595,123

Gross Profit                          3,207,971          2,185,017                 --           5,392,988

Employee Severance                           --                 --            209,871             209,871

Operating Income (loss)               2,059,028            984,573         (1,558,192)          1,485,409

Interest Expense                             --                 --            187,991             187,991

Income Tax Expense (Benefit)                 --                 --            533,216             533,216
</Table>

<Table>
<Caption>
 NINE MONTHS ENDED                  CONTRACT           BUSINESS
  JUNE 30, 2002                   MANUFACTURING         IMAGING           INTERSECTOR         CONSOLIDATED
<S>                               <C>                 <C>                 <C>                 <C>
Net Sales                          $ 21,121,533       $ 16,419,571        $         --        $ 37,541,104

Gross Profit                          4,083,198          1,273,184                  --           5,356,382

Operating Income (loss)               3,006,359           (332,677)         (1,036,514)          1,637,168

Interest Expense                             --                 --             364,038             364,038

Income Tax Expense (Benefit)                 --                 --             629,275             629,275
</Table>


                                       12
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

GENERAL INFORMATION:

         The Company has manufacturing operations in Green Bay, WI and Newton,
         NC. The Company's corporate headquarters are located in Green Bay, WI.
         Corporate support services currently are located in Dallas, TX and are
         currently being transitioned to Green Bay, WI.

         The Company provides diversified Contract Manufacturing and specialty
         printing services and manufactures and distributes Business Imaging
         paper products.

         There are seasonal demand characteristics for the Company's products
         occurring because of the seasonal demand for certain Contract
         Manufacturing printed products displaying a holiday theme as well as
         products which are used by customers in conjunction with end-of-year
         activities. These products are normally shipped during the Company's
         fourth fiscal quarter. Point of sale Business Imaging products peak
         during second and fourth quarters due to seasonal demand for products
         related to end-of-year holiday activities and due to summer vacation
         activities.

         The condensed consolidated financial statements have been prepared in
         accordance with generally accepted accounting principles which require
         the Company to make estimates and assumptions that affect the reported
         amounts of assets and liabilities at the date of the consolidated
         financial statements and revenues and expenses during the periods
         reported. Actual results could differ from those estimates. Unless
         otherwise noted, the Company has not made any changes in estimates or
         assumptions that have had a significant effect on the reported amounts.


                                       13
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS --CONTINUED

RESULTS OF OPERATIONS:

CONDENSED OPERATING DATA, PERCENTAGES OF NET SALES AND PERIOD-TO-PERIOD CHANGES
IN THESE ITEMS ARE AS FOLLOWS (DOLLARS IN THOUSANDS):

<Table>
<Caption>
                                 Three Months Ended        Period-to-Period       Nine Months Ended        Period-to-Period
                                      June  30,                 Change                June  30,                 Change
                                ---------------------                           ---------------------
                                  2003         2002         $           %        2003          2002         $           %
                                --------     --------    --------    --------   --------     --------    --------    --------
<S>                             <C>          <C>         <C>         <C>        <C>          <C>         <C>         <C>
Net Sales                       $ 14,272     $ 13,689         583           4   $ 39,595     $ 37,541       2,054           5

Gross Profit                       2,353        2,748        (395)        -14      5,393        5,356          37           1
                                    16.5%        20.1%                              13.6%        14.3%

Operating Expenses                 1,581        1,022         559          55      3,907        3,719         188           5
                                    11.1%         7.5%                               9.9%         9.9%

Operating Income                     772        1,726        (954)        -55      1,486        1,637        (151)         -9
                                     5.4%        12.6%                               3.8%         4.4%

Interest Expense                      11          104         (93)        -89        188          364        (176)        -48
                                     0.1%         0.8%                               0.5%         1.0%

Net Income from
Continuing Operations                428          882        (454)        -52        747          665          82          12
                                     3.0%         6.4%                               1.9%         1.8%
Loss from Discontinued
Operations, Net of Tax               (58)        (104)         46         -44       (465)        (643)        178         -28
                                    -0.4%        -0.8%                              -1.2%        -1.7%
Cumulative Effect of
Accounting Change                     --           --                                 --       (4,652)      4,652        -100
                                                                                                -12.4%

Net Income (Loss)               $    370     $    778        (408)        -53   $    282     $ (4,630)      4,912        -106
                                     2.6%         5.7%                               0.7%       -12.3%
</Table>


                                       14
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS --CONTINUED

         The components of net sales and gross profit are summarized in the
table below (dollars in thousands):

<Table>
<Caption>
                                                     Three Months Ended
                                                          June 30,
                                      --------------------------------------------------
                                               2003                        2002
                                      -----------------------    -----------------------
                                                     % of                       % of        Period-to-Period Change
                                        Amount       Total         Amount       Total           $            %
                                      ----------   ----------    ----------   ----------    ----------   ----------
<S>                                   <C>          <C>           <C>          <C>           <C>          <C>
         Net Sales
Contract manufacturing and printing   $    8,333           58%   $    8,146           60%   $      187            2%
Business imaging paper products            5,939           42         5,543           40           396            7
                                      ----------   ----------    ----------   ----------    ----------   ----------
Net sales                             $   14,272          100%   $   13,689          100%   $      583            4%
                                      ==========   ==========    ==========   ==========    ==========   ==========
</Table>

<Table>
<Caption>
                                                     Margin                     Margin      Period-to-Period Change
                                        Amount         %           Amount         %             $            %
                                      ----------   ----------    ----------   ----------    ----------   ----------
<S>                                   <C>          <C>           <C>          <C>           <C>          <C>
       Gross Profit (loss)
Contract manufacturing and printing   $    1,604           19%   $    2,163           27%   $     -559          -26%
Business imaging paper products              749           13           585           11           164           28
                                      ----------   ----------    ----------   ----------    ----------   ----------
Gross profit                          $    2,353           16%   $    2,748           20%   $     -395          -14%
                                      ==========   ==========    ==========   ==========    ==========   ==========
</Table>

<Table>
<Caption>
                                                              Nine Months Ended
                                                                    June 30,
                                              ----------------------------------------------------
                                                        2003                        2002
                                              ------------------------    ------------------------
                                                              % of                        % of        Period-to-Period Change
                                                Amount        Total         Amount        Total           $             %
                                              ----------    ----------    ----------    ----------    ----------    ----------
<S>                                           <C>           <C>           <C>           <C>           <C>           <C>
         Net Sales
Contract manufacturing and printing           $   21,824            55%   $   21,121            56%   $      703             3%
Business imaging paper products                   17,771            45        16,420            44         1,351             8
                                              ----------    ----------    ----------    ----------    ----------    ----------
Net sales                                     $   39,595           100%   $   37,541           100%   $    2,054             5%
                                              ==========    ==========    ==========    ==========    ==========    ==========
</Table>

<Table>
<Caption>
                                                             Margin                     Margin      Period-to-Period Change
                                                Amount         %           Amount         %             $            %
                                              ----------   ----------    ----------   ----------    ----------   ----------
<S>                                           <C>          <C>           <C>          <C>           <C>          <C>
       Gross Profit
Contract manufacturing and printing           $    3,208           15%   $    4,083           19%   $     -875          -21%
Business imaging paper products                    2,185           12         1,273            8           912           72
                                              ----------   ----------    ----------   ----------    ----------   ----------
Gross profit                                  $    5,393           14%   $    5,356           14%   $       37            1%
                                              ==========   ==========    ==========   ==========    ==========   ==========
</Table>


                                       15
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS -CONTINUED

NET SALES:

Net sales increased $0.6 million (4%) to $14.3 million in the third quarter of
fiscal 2003, when compared to this period last year. This is due to increases of
$0.4 million or 7% in the Business Imaging segment and $0.2 million or 2% in the
Contract Manufacturing segment. The increase in the Business Imaging segment was
due to an increase in the point of sale rolls to a major discount retail
customer.

GROSS PROFIT:

Gross profit decreased $0.4 million (14%) for third quarter of fiscal 2003 when
compared to the third quarter of fiscal 2002. The Contract Manufacturing segment
decreased $0.6 million (26%) primarily due to a price reduction (effective July
1, 2003) to a major customer. That contract with that customer expires in
December 2003 and will not be renewed. Warehouse costs were higher due to
increased production of another contract. The Business Imaging segment's gross
profit increased $0.2 million (28%) as a result of growth in the point-of-sales
rolls market. This segment also improved margins by reducing overhead by closing
the Dallas, Texas facility and moving the remaining production to its Newton,
North Carolina facility.

OPERATING EXPENSES:

Operating expenses increased $0.5 million for third quarter of fiscal 2003 when
compared to the same period of fiscal 2002. This increase for the quarter
includes $164,000 in severance costs and $227,000 in reporting and legal costs.

OPERATING INCOME:

Operating income decreased $1.0 million to income of $0.8 million for the third
quarter of fiscal 2003, when compared to the same period of fiscal 2002. The
decrease was primarily due to $0.5 million additional legal and closing costs
related to the sale of the Paint Sundries segment.

INTEREST EXPENSE AND OTHER INCOME (EXPENSE)-NET:

Interest expense was $0.1 million lower compared to last year due to a $8.5
million reduction in debt since June 30, 2002, primarily with proceeds from the
sale of the Paint Sundry segment (See note 6) and lower interest rates on
borrowings.

NET INCOME AND EARNINGS PER SHARE:

The Company reported net income of $0.4 million (per share: $0.08 basic and
diluted) for third quarter of fiscal 2003, versus net income of $0.8 million
(per share: $0.17-basic and diluted) for the same period one year ago. Net
income from continuing operations was $0.4 million (per share: $0.09-basic and
diluted) for the third quarter of 2003 compared to $0.9 million (per share:
$0.19 basic and diluted) for 2002.

ACCOUNTING CHANGE:

Effective October 1, 2001, the Company adopted SFAS No. 142, "Goodwill and Other
Intangible Assets". This standard requires that companies no longer amortize
goodwill and indefinite life intangible assets, such as trademarks. In addition,
this standard requires that companies evaluate all goodwill for impairment
annually. Upon completion of this evaluation, the Company recorded a charge in
an amount of $6.4 million ($4.7 million, net of income tax effects, or $1.01 per
diluted share) in fiscal 2002 for the goodwill recorded in the Business Imaging
and Paint Sundries segments. The annual goodwill impairment test performed in
third quarter fiscal 2003 resulted in no additional impairment.


                                       16
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS --CONTINUED

LIQUIDITY AND CAPITAL RESOURCES:

The Company used $58,000 in cash from continuing operations through the first
nine months of fiscal 2003, compared to cash flow from continuing operations
generated of $6.0 million for the same period last year. Net income plus
non-cash items aggregated $2.9 million, a decrease of $0.2 million from the same
period last year. The Company used $0.5 million for prepaid and other assets and
$1.4 million to pay accounts payable and accrued liabilities. Increases in
accounts receivable used $0.4 million and increases in inventories used $0.7
million in cash flows.

Net cash used in investing activities was $2.1 million through the third quarter
of fiscal 2003. Additions to property, plant and equipment include $2.2 million
related primarily to the purchase and installation of equipment for the
wet-wipes production line.

Net cash used in financing activities was $5.4 million through the third quarter
of fiscal 2003 due to repayment of all of the Company's outstanding bank term
debt and revolving line of credit.

Net cash provided by discontinued operations in the third quarter of 2003 was
$10.8 million which represented $11.7 million of net proceeds from the sale of
the Paint Sundries segment offset by $0.9 million of cash used by the operating
activities for the five months ended February 28, 2003.

As of August 13, 2003, the Company had $6.0 million available under its
revolving credit line which was reduced to a $6.0 million facility concurrent
with the sale of the Paint Sundries segment. According to the terms of its
credit facility with its lenders, the Company is required to maintain certain
financial and operational covenants. As of June 30, 2003, the Company was in
compliance with all of its debt covenants under the credit facility.

The Company intends to retain earnings to finance future operations and
expansion and does not expect to pay any dividends within the foreseeable
future.

STOCK REPURCHASE PLAN

In March 2003, the Company's Board of Directors approved the purchase by the
Company of up to 100,000 of its shares of common stock given that the cash and
debt position would enable these purchases without impairment to the Company's
capital. The purchase plan began in April 2003, and extends over a nine-month
period. As of August 13, 2003, 35,500 shares have been purchased, including
8,000 shares purchased subsequent to June 30, 2003.

CRITICAL ACCOUNTING POLICIES

The critical accounting policies for the Company remain unchanged from prior
periods except for the discussion below. For a more detailed discussion, refer
to Item 7 "Critical Accounting Policies" of the Company's annual report on Form
10-K for the year ended September 30, 2002 and "Recently Issued Accounting
Pronouncements" (See Note 1) of this report Form 10-Q for the quarter ending
June 30, 2003.

The Company adopted SFAS No. 144 "Accounting for the Impairment or Disposal of
Long-Lived Assets", effective October 1, 2002. Adoption of SFAS No. 144 did not
have a material impact on the Company's financial position or results of
operations. The sale and discontinued operations of the Paint Sundries segment
in the second quarter 2003 have been recorded in accordance with SFAS No. 144.
SFAS No. 146 "Accounting for Costs Associated with Exit or Disposal Activities"
is to be applied prospectively to exit or disposal activities initiated after
December 31, 2002. The relocation and closing of the Dallas Corporate services
office has been recorded in accordance with SFAS No. 146.


                                       17
<PAGE>

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Information with respect to the Company's exposure to interest rate risk,
foreign currency risk, commodity price risk and other relevant market risks is
contained on page 24 in Item 7A, Management's Discussion and Analysis of
Financial Condition and Results of Operations, of the Company's Annual Report on
Form 10-K for the year ended September 30, 2002. Management believes that as of
June 30, 2003, there has been no material change to this information.


FORWARD LOOKING STATEMENTS:

Management's discussion of the Company's 2003 quarterly periods in comparison to
2002, contains forward-looking statements regarding current expectations, risks
and uncertainties for future periods. The actual results could differ materially
from those discussed here. As well as those factors discussed in this report,
other factors that could cause or contribute to such differences include, among
other items, cancellation of production agreements by significant customers,
material increases in the cost of base paper stock, competition in the Company's
product areas, or an inability of management to successfully reduce operating
expenses in relation to net sales without damaging the long-term direction of
the Company. Therefore, the condensed financial data for the periods presented
may not be indicative of the Company's future financial condition or results of
operations.

ITEM 4.  CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures. As required by Exchange Act
Rule 13a-15(b), the Company's management, including the Chief Executive Officer
and Chief Financial Officer, conducted an evaluation as of the end of the period
covered by this report, of the effectiveness of the design and operation of the
Company's disclosure controls and procedures. As defined in Exchange Act Rule
13a-15(e) and 15d-15(e) under the Exchange Act, disclosure controls and
procedures are controls and other procedures of the Company that are designed to
ensure that information required to be disclosed by the Company in the reports
it files or submits under the Exchange Act is recorded, processed, summarized
and reported, within the time periods specified in the SEC's rules and forms.
Disclosure controls and procedures include, without limitation, controls and
procedures designed to ensure that information required to be disclosed by the
Company in the reports it files or submits under the Exchange Act is accumulated
and communicated to the Company's management, including the Chief Executive
Officer and Chief Financial Officer, as appropriate to allow timely decisions
regarding required disclosure.

Based on that evaluation, the Chief Executive Officer and Chief Financial
Officer concluded that the Company's disclosure controls and procedures were
effective as of the end of the period covered by this report. It should be noted
that any system of controls, however well designed and operated, is based in
part upon certain assumptions and can provide only reasonable, and not absolute,
assurance that the objectives of the system are met.

Changes in Internal Control Over Financial Reporting. As required by Exchange
Act Rule 13a-15(d), the Company's management, including the Chief Executive
Officer and Chief Financial Officer, also conducted an evaluation of the
Company's internal control over financial reporting to determine whether any
change occurred during the quarter covered by this report that has materially
affected, or is reasonably likely to materially affect, the Company's internal
control over financial reporting. Based on that evaluation, there has been no
such change during the quarter covered by this report.


                                       18
<PAGE>

PART II.  OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

         Not applicable.

ITEM 2.  CHANGES IN SECURITIES

         None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

         None.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         None.

ITEM 5.  OTHER INFORMATION

         None.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)      EXHIBITS.

         31.1    Certification pursuant to Rule 13a-14(a) or Rule 15d-14(a) of
                 the Securities Exchange Act of 1934.

         31.2    Certification pursuant to Rule 13a-14(a) or Rule 15d-14(a) of
                 the Securities Exchange Act of 1934.

         32.1    Certification furnished Pursuant to 18 U.S.C. Section 1350, as
                 Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of
                 2002

         32.2    Certification furnished Pursuant to 18 U.S.C. Section 1350, as
                 Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of
                 2002

(b)      Reports on Form 8-K.

         The Company filed Current Reports on Form 8-K on April 15, 2003
         regarding the sale of the Company's Paint Sundries segment and on May
         14, 2003 discussing the Company's second fiscal quarter.


                                       19
<PAGE>

                                   SIGNATURES


                  Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.



                                    TUFCO TECHNOLOGIES, INC.





Date:         August 14, 2003       /s/ Louis LeCalsey, III
                                    --------------------------------------------
                                    Louis LeCalsey, III
                                    President and Chief Executive Officer






Date:         August 14, 2003       /s/ Michael B. Wheeler
                                    --------------------------------------------
                                    Michael B. Wheeler
                                    Vice President and Chief Financial Officer


                                       20