<PAGE>   1


                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 10-Q

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

                  For the quarterly period ended June 30, 2000
                                                 -------------

                         Commission file number 0-21018
                                                -------

                            TUFCO TECHNOLOGIES, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

              Delaware                                  39-1723477
     ----------------------------                  ---------------------
     (State of other jurisdiction                  (IRS Employer ID No.)
   of incorporation of organization)

                     4800 Simonton Road, Dallas, Texas 75244
                    ----------------------------------------
                    (Address of principal executive offices)

                                  (972)789-1079
                     ---------------------------------------
                     (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 the number of shares outstanding of each or the issuer's classes
of common stock, as of the latest practicable date.

                  Class                    Outstanding at August 12, 2000
  ---------------------------------------  ------------------------------
  Common Stock, par value $0.01 per share            4,571,128



<PAGE>   2

                    TUFCO TECHNOLOGIES, INC. AND SUBSIDIARIES

                                      INDEX


<TABLE>
<CAPTION>
                                                                                              Page
                                                                                             Number
                                                                                             ------

<S>                                                                                            <C>
PART I:  FINANCIAL INFORMATION


Item 1.  Financial Statements

         Condensed Consolidated Balance Sheets as of
         June 30, 2000 (Unaudited) and September 30, 1999                                      3

         Condensed Consolidated Statements of Income for the three
         months and nine months ended June 30, 2000 and 1999 (Unaudited)                       4

         Condensed Consolidated Statements of Cash Flows for the
         nine months ended June 30, 2000 and 1999 (Unaudited)                                  5

         Notes to Condensed Consolidated Financial Statements                                  6


Item 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations                                                   9

Item 3.  Quantitative and Qualitative Disclosures About Market Risk                           14

PART II: OTHER INFORMATION                                                                    16

SIGNATURES                                                                                    17
</TABLE>

                                       2

<PAGE>   3


                    TUFCO TECHNOLOGIES, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                                             June 30,
                                                                                               2000            September 30,
                                                        Assets                             (Unaudited)              1999
                                                                                            ------------        ------------

<S>                                                                                         <C>                 <C>
CURRENT ASSETS:
   Cash and cash equivalents.........................................................       $  3,100,180        $    692,002
   Restricted cash ..................................................................             11,828              20,050
   Accounts receivable, net .........................................................         14,283,065          12,721,698
   Inventories ......................................................................          9,491,636           8,248,876
   Prepaid expenses and other current assets ........................................          1,633,486             763,972
   Deferred income taxes ............................................................            447,096             447,096
   Income taxes receivable ..........................................................             22,027                  --
                                                                                            ------------        ------------
         Total current assets .......................................................         28,989,318          22,893,694

PROPERTY, PLANT AND EQUIPMENT-Net ...................................................         19,750,094          16,636,756
GOODWILL - Net ......................................................................         17,501,200          17,948,930
OTHER ASSETS - Net ..................................................................            895,399           1,601,409
                                                                                            ------------        ------------
TOTAL ...............................................................................       $ 67,136,011        $ 59,080,789
                                                                                            ============        ============

                                             Liabilities and Stockholders' Equity

CURRENT LIABILITIES:
   Current portion of long-term debt.................................................       $  1,778,349        $  1,902,435
   Accounts payable .................................................................          9,496,422           3,764,026
   Accrued payroll, vacation and payroll taxes ......................................            628,266           1,537,041
   Other current liabilities ........................................................          1,238,518           1,580,744
   Income taxes payable .............................................................                 --             175,001
                                                                                            ------------        ------------
         Total current liabilities ..................................................         13,141,555           8,959,247

LONG-TERM DEBT- Less current portion ................................................         13,966,062          12,627,136
DEFERRED INCOME TAXES ...............................................................          2,248,871           2,248,871

STOCKHOLDERS' EQUITY
   Voting Common Stock: $.01 par value; 9,000,000 shares authorized;
       4,649,625 and 4,498,618 shares issued, respectively ..........................             46,496              44,986
   Additional paid-in capital .......................................................         24,760,852          23,973,017
   Retained earnings ................................................................         13,596,415          11,856,772
   Treasury stock at cost, 78,497 voting common shares ..............................           (534,045)           (534,045)
   Stock purchase plan notes ........................................................            (90,195)            (95,195)
                                                                                            ------------        ------------
        Total stockholders' equity ..................................................         37,779,523          35,245,535
                                                                                            ------------        ------------
   TOTAL ............................................................................       $ 67,136,011        $ 59,080,789
                                                                                            ============        ============
</TABLE>

            See notes to condensed consolidated financial statements.

                                        3

<PAGE>   4


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

<TABLE>
<CAPTION>
                                                       THREE MONTHS ENDED                      NINE MONTHS ENDED
                                                            June 30,                                June 30,
                                                 --------------------------------        --------------------------------
                                                     2000                1999                2000                1999
                                                 ------------        ------------        ------------        ------------

<S>                                              <C>                 <C>                 <C>                 <C>
NET SALES ................................       $ 19,391,637        $ 19,415,717        $ 59,875,846        $ 56,275,511
COST OF SALES ............................         17,354,066          15,922,718          50,767,197          47,007,109
                                                 ------------        ------------        ------------        ------------
GROSS PROFIT .............................          2,037,571           3,492,999           9,108,649           9,268,402

OPERATING EXPENSES:

Selling, general and administrative ......          1,282,190           1,660,982           4,960,660           5,441,930
Amortization and other post-
   acquisition expenses ..................            226,849             265,698             741,259             744,585
                                                 ------------        ------------        ------------        ------------
OPERATING INCOME .........................            528,532           1,566,319           3,406,730           3,081,887

OTHER INCOME (EXPENSE):

   Interest expense ......................           (264,390)           (289,784)           (769,849)           (851,776)
   Interest and other income (expense) ...              8,869               7,325             (28,267)             19,452
   Gains (loss) on asset sales ...........            (35,222)            676,529             253,466           1,007,843
                                                 ------------        ------------        ------------        ------------
INCOME BEFORE INCOME TAXES ...............            237,789           1,960,389           2,862,080           3,257,406

INCOME TAX EXPENSE .......................            151,371             714,277           1,122,437           1,207,143
                                                 ------------        ------------        ------------        ------------
NET INCOME ...............................       $     86,418        $  1,246,112        $  1,739,643        $  2,050,263
                                                 ============        ============        ============        ============

EARNINGS PER SHARE:
    Basic ................................       $       0.02        $       0.28        $       0.39        $       0.46
    Diluted ..............................       $       0.02        $       0.28        $       0.38        $       0.46
WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING:
    Basic ................................          4,567,093           4,420,121           4,472,657           4,418,438
    Diluted ..............................          4,662,567           4,511,374           4,609,695           4,468,570
</TABLE>

            See notes to condensed consolidated financial statements.

                                        4

<PAGE>   5


                    TUFCO TECHNOLOGIES, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                              NINE MONTHS ENDED
                                                                                   June 30,
                                                                        ------------------------------
                                                                            2000               1999
                                                                        -----------        -----------

<S>                                                                     <C>                <C>
OPERATING ACTIVITIES
   Net Income ...................................................       $ 1,739,643        $ 2,050,263
   Noncash items in net income:
      Depreciation and amortization .............................         2,642,178          2,106,288
      Provision for bad debts ...................................           321,850             14,495
      Gains on asset sales ......................................          (253,466)        (1,007,843)
   Changes in operating working capital:
      Accounts receivable .......................................        (1,883,217)        (1,894,539)
      Inventories ...............................................        (1,242,760)          (587,373)
      Prepaid expenses and other assets .........................          (356,613)          (401,853)
      Accounts payable ..........................................         5,732,396          1,545,646
      Accrued and other current liabilities .....................        (1,251,001)           412,248
      Income taxes payable ......................................          (197,028)           679,326
                                                                        -----------        -----------
   Net cash from operations .....................................         5,251,982          2,916,658

INVESTING ACTIVITIES
   Additions to property, plant and equipment ...................        (5,795,245)        (1,847,875)
   Proceeds from disposition of property, plant and equipment ...           807,820            454,551
   (Decrease) increase in advances to shareholders ..............           126,214            (38,667)
   Acquisition of Foremost Manufacturing, Inc. ..................                --           (142,000)
   Increase in restricted cash ..................................             8,222             20,328
   Proceeds from sale of assets, net of transaction cost ........                --          3,628,186
                                                                        -----------        -----------
   Net cash from (used in)investing activities ..................        (4,852,989)         2,074,523

FINANCING ACTIVITIES
   Repayment of long-term debt ..................................                --         (4,498,788)
   Issuance of long-term debt ...................................         1,214,840                 --
   Decrease in stock purchase plan notes ........................             5,000              5,000
   Exercise of common stock options .............................           789,345             11,741
                                                                        -----------        -----------
   Net cash from (used in) financing activities .................         2,009,185         (4,482,047)
                                                                        -----------        -----------

NET INCREASE IN CASH AND CASH EQUIVALENTS .......................         2,408,178            509,134
CASH AND CASH EQUIVALENTS:
 Beginning of period ............................................           692,002          1,006,110
                                                                        -----------        -----------
 End of period ..................................................       $ 3,100,180        $ 1,515,244
                                                                        ===========        ===========
</TABLE>

            See notes to condensed consolidated financial statements.

                                        5

<PAGE>   6


                    TUFCO TECHNOLOGIES, INC. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                FOR THE NINE MONTHS ENDED JUNE 30, 2000 AND 1999
                                   (UNAUDITED)

1.   INTERIM FINANCIAL STATEMENTS

     The unaudited interim financial statements have been prepared in accordance
     with generally accepted accounting principles for interim financial
     information and Rule 10-01 of Regulation S-X. In the opinion of management,
     all adjustments (consisting of normal recurring adjustments) considered
     necessary for a fair presentation have been included. Some adjustments
     involve estimates which may require revision in subsequent interim periods
     or at year end. The unaudited financial statements and footnotes should be
     read in conjunction with the Company's financial statements for the year
     ended September 30, 1999 that are included in Form 10-K that was filed with
     the Securities and Exchange Commission on December 22, 1999. Operating
     results for the nine month period are not necessarily indicative of results
     expected for the remainder of the year.

2.   INVENTORIES

     Inventories consist of the following:

<TABLE>
<CAPTION>
                                      June 30,       September 30,
                                        2000             1999
                                     ----------       ----------

<S>                                  <C>              <C>
Raw materials ................       $5,139,826       $4,670,120
Finished goods ...............        4,351,810        3,578,756
                                     ----------       ----------
Total inventories ............       $9,491,636       $8,248,876
                                     ==========       ==========
</TABLE>

                                        6

<PAGE>   7


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

3.   SEGMENT INFORMATION

     The Company operates in a single industry since it manufactures and
     distributes custom paper-based and woven products, and provides contract
     manufacturing, specialty printing and related services on these types of
     products. The Company does, however, separate its operations and prepare
     information for management use by the market sectors aligned with the
     Company's products and services. Such market sector information is
     summarized below. The Contract Manufacturing sector provides services to
     large national consumer products companies while the remaining sectors
     manufacture and distribute products ranging from paper goods to paint
     sundries. Accounts receivable and certain other assets are not assignable
     to specific sectors and, therefore, are included in the intersector column
     below. In June 1999, the Company sold its equipment and inventory related
     to its Away-From-Home products and services, and has ceased selling into
     this market sector.

<TABLE>
<CAPTION>
THREE MONTHS ENDED            CONTRACT          BUSINESS          PAINT            AWAY-
  JUNE 30, 2000             MANUFACTURING       IMAGING          SUNDRIES        FROM-HOME       INTERSECTOR      CONSOLIDATED
                            -------------     ------------     ------------     ------------     ------------     ------------

<S>                          <C>              <C>              <C>              <C>              <C>              <C>
Net Sales                    $  7,902,847     $  6,756,850     $  4,731,940     $         --     $         --     $ 19,391,637

Gross Profit                    1,207,600          747,836           82,135               --               --        2,037,571

Operating Income (loss)         1,007,681          182,436         (446,859)              --         (214,726)         528,532

Assets:
    Inventories                   782,362        4,523,638        4,185,636               --               --        9,491,636
    Property, plant and
      equipment-net             9,735,789        6,823,836          602,574               --        2,587,895       19,750,094
    Accounts receivable
      and other
    (including goodwill)                                                                           37,894,281       37,894,281
                             ------------     ------------     ------------     ------------     ------------     ------------
  Total assets               $ 10,518,151     $ 11,347,474     $  4,788,210     $         --     $ 40,482,176     $ 67,136,011
                             ============     ============     ============     ============     ============     ============

THREE MONTHS ENDED
  JUNE 30, 1999

Net Sales                    $  7,075,234     $  5,897,672     $  5,629,845     $    812,966     $         --     $ 19,415,717

Gross Profit                    1,668,309          857,783          887,562           79,345               --        3,492,999

Operating Income (loss)         1,391,648          405,329          308,894         (207,053)        (332,499)       1,566,319

Assets:
    Inventories                   953,449        3,674,643        3,343,369               --               --        7,971,461
    Property, plant and
      equipment-net             6,279,826        7,329,976          892,881               --        2,311,265       16,813,948
    Accounts receivable
      and other
      (including goodwill)                                                                         34,187,224       34,187,224
                             ------------     ------------     ------------     ------------     ------------     ------------
  Total assets               $  7,233,275     $ 11,004,619     $  4,236,250     $         --     $ 36,498,489     $ 58,972,633
                             ============     ============     ============     ============     ============     ============
</TABLE>

                                        7

<PAGE>   8

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

<TABLE>
<CAPTION>
NINE MONTHS ENDED               CONTRACT         BUSINESS          PAINT             AWAY-
  JUNE 30, 2000               MANUFACTURING      IMAGING          SUNDRIES         FROM-HOME       INTERSECTOR       CONSOLIDATED
                              ------------     ------------     ------------      ------------     ------------      ------------

<S>                           <C>              <C>              <C>               <C>              <C>               <C>
Net Sales                     $ 26,677,063     $ 19,288,971     $ 13,909,812      $         --     $         --      $ 59,875,846

Gross Profit                     5,699,359        2,237,923        1,171,367                --               --         9,108,649

Operating Income (loss)          4,456,242          902,346         (585,665)               --       (1,366,193)        3,406,730

Assets:
    Inventories                    782,362        4,523,638        4,185,636                --               --         9,491,636
    Property, plant and
      equipment-net              9,735,789        6,823,836          602,574                --        2,587,895        19,750,094
    Accounts receivable
      and other
    (including goodwill)                                                                             37,894,281        37,894,281
                              ------------     ------------     ------------      ------------     ------------      ------------
  Total assets                $ 10,518,151     $ 11,347,474     $  4,788,210      $         --     $ 40,482,176      $ 67,136,011
                              ============     ============     ============      ============     ============      ============

NINE MONTHS ENDED
  JUNE 30, 1999

Net Sales                     $ 17,451,565     $ 18,596,237     $ 15,730,076      $  4,497,633     $         --      $ 56,275,511

Gross Profit                     3,533,406        3,074,687        2,220,590           439,719               --         9,268,402

Operating Income (loss)          2,938,050        1,538,930          296,780          (287,556)      (1,404,317)        3,081,887

Assets:
    Inventories                    953,449        3,674,643        3,343,369                --               --         7,971,461
    Property, plant and
      equipment-net              6,279,826        7,329,976          892,881                --        2,311,265        16,813,948
    Accounts receivable
      and other
      (including goodwill)                                                                           34,187,224        34,187,224
                              ------------     ------------     ------------      ------------     ------------      ------------
  Total assets                $  7,233,275     $ 11,004,619     $  4,236,250      $         --     $ 36,498,489      $ 58,972,633
                              ============     ============     ============      ============     ============      ============
</TABLE>

                                        8

<PAGE>   9

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

GENERAL INFORMATION:

     Tufco Technologies, Inc. has locations in Green Bay, WI, Dallas, TX,
     Newton, NC, Manning, SC and St. Louis, MO.

     The Company, through its wholly owned subsidiaries, provides diversified
     Contract Manufacturing and specialty printing services, manufactures and
     distributes Business Imaging paper products and distributes Paint Sundry
     products used in home improvement projects.

     The Company normally operates at lower operating levels during the first
     and second quarters of its fiscal year which ends September 30. This occurs
     because of the seasonal demand for certain 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 third and fourth fiscal quarters. Demand for
     its Paint Sundry products is generally lower during the first and second
     fiscal quarters as cold weather restricts the amount of new construction
     and remodeling projects that require the Company's products.

                                        9

<PAGE>   10
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 YEAR-TO-YEAR CHANGES IN
THESE ITEMS ARE AS FOLLOWS: ($000s)

<TABLE>
<CAPTION>
                        Three Months Ended                                  Nine Months Ended
                             June 30,                Period-to-Period            June 30,             Period-to-Period
                       ---------------------              Change           -------------------             Change
                         2000         1999           $              %        2000        1999          $             %
                       -------      -------       ------           ---     -------     -------       -----          ---

<S>                    <C>          <C>              <C>             <C>   <C>         <C>           <C>              <C>
Net Sales              $19,392      $19,416          (24)            0     $59,876     $56,276       3,600            6

Gross Profit             2,038        3,493       (1,455)          (42)      9,109       9,268        (159)          (2)
                          10.5%        18.0%                                  15.2%       16.5%

Operating Expenses       1,509        1,927         (418)          (22)      5,702       6,186        (484)          (8)
                           7.8%         9.9%                                   9.5%       11.0%

Operating Income           529        1,566       (1,037)          (66)      3,407       3,082         325           11
                           2.7%         8.1%                                   5.7%        5.5%

Interest Expense           264          290          (26)           (9)        770         852         (82)         (10)
                           1.4%         1.5%                                   1.3%        1.5%

Net Income             $    86      $ 1,246       (1,160)          (93)      1,740       2,050        (310)         (15)
                           0.4%         6.4%                                   2.9%        3.6%
</TABLE>

Analysis of net sales and gross profit, percentages of total net sales, and
year-to-year changes in the Company's primary market sectors are as follows
(dollars in thousands):

<TABLE>
<CAPTION>
                                                           Three Months Ended
                                                                 June 30,
                                                --------------------------------------------
                                                       2000                     1999
                                                -------------------      -------------------
                                                             % of                     % of     Period-to-Period Change
                                                Amount       Total       Amount       Total          $           %
                                                -------     -------      -------     -------      -------     -------

<S>                                             <C>              <C>     <C>              <C>         <C>          <C>
         Net Sales

Contract manufacturing and printing             $ 7,903          41%     $ 7,075          37%         828          12
Business imaging paper products                   6,757          35        5,898          30          859          15
Paint sundry products                             4,732          24        5,630          29         (898)        (16)
Away-from-home products                              --          --          813           4         (813)       (100)
                                                -------     -------      -------     -------      -------     -------
Net sales                                       $19,392         100%     $19,416         100%         (24)          0
                                                =======     =======      =======     =======      =======     =======

<CAPTION>
                                                            Margin                   Margin    Period-to-Period Change
                                                Amount        %          Amount         %            $           %
                                                -------     -------      -------     -------      -------     -------

<S>                                             <C>              <C>     <C>              <C>         <C>          <C>
Contract manufacturing and printing             $ 1,208          15%     $ 1,668          24%        (460)        (28)
Business imaging paper products                     748          11          858          15         (110)        (13)
Paint sundry products                                82           2          888          16         (806)        (91)
Away-from-home products                              --          --           79          10          (79)       (100)
                                                -------     -------      -------     -------      -------     -------
Gross profit                                    $ 2,038          11%     $ 3,493          18%      (1,455)        (42)
                                                =======     =======      =======     =======      =======     =======
</TABLE>

                                       10

<PAGE>   11

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

<TABLE>
<CAPTION>
                                                     Nine Months Ended
                                                          June 30,
                                        --------------------------------------------
                                               2000                     1999
                                        -------------------      -------------------
                                                     % of                     % of     Period-to-Period Change
                                        Amount       Total       Amount       Total         $          %
                                        -------     -------      -------     -------      ------     ------

<S>                                     <C>              <C>     <C>              <C>      <C>           <C>
         Net Sales

Contract manufacturing and printing     $26,677          45%     $17,452          31%      9,225         53
Business imaging paper products          19,289          32       18,596          33         693          4
Paint sundry products                    13,910          23       15,730          28      (1,820)       (12)
Away-from-home products                      --          --        4,498           8      (4,498)      (100)
                                        -------     -------      -------     -------      ------     ------
Net sales                               $59,876         100%     $56,276         100%      3,600          6
                                        =======     =======      =======     =======      ======     ======

<CAPTION>
                                                    Margin                   Margin    Period-to-Period Change
                                         Amount        %         Amount        %            $           %
                                        -------     -------      -------     -------      ------     ------

<S>                                     <C>              <C>     <C>              <C>     <C>          <C>
       Gross Profit

Contract manufacturing and printing     $ 5,700          21%     $ 3,533          20%      2,167         61
Business imaging paper products           2,238          12        3,074          17        (836)       (27)
Paint sundry products                     1,171           8        2,221          14      (1,050)       (47)
Away-from-home products                      --          --          440          10        (440)      (100)
                                        -------     -------      -------     -------      ------     ------
Gross profit                            $ 9,109          15%     $ 9,268          16%       (159)        (2)
                                        =======     =======      =======     =======      ======     ======
</TABLE>

                                       11

<PAGE>   12

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

NET SALES:

Net sales for the three month period were flat compared to the same period of
fiscal 1999. For the nine months ended June 30, 2000 sales increased $3.6
million or (6%). In June of fiscal 1999, the Company discontinued its line of
Away-From-Home (AFH) products, and sales of these products totaled $0.8 million
and $4.5 million for the respective three and nine months periods of fiscal
1999. Adjusting for this fact, sales of the Company's remaining core products
and services increased $0.8 million (4%) and $8.1 million (16%) for the three
and nine month periods.

Growth in the Company's Contract Manufacturing sector had been the driving
factor in the Company's overall sales and income growth through six months of
fiscal 2000. However, sales in this critical strategic sector were only $7.9
million for the third quarter of fiscal 2000, down from an average of $9.4
million for the first two quarters of the year, and this decline contributed to
the sharp decline in profit for the quarter. As disclosed by management in the
Company's June 30, 2000 review of operations, the Company's largest customer
elected to terminate a major production agreement in March 2000, approximately
four months prior to the scheduled termination. Sales of services under this
agreement had averaged $1.4 million per month through the first six months of
2000. The Company elected not to impose early termination penalties on this
customer in recognition of five new production agreements which the customer had
awarded Tufco. These agreements are scheduled to begin operation in the summer
and fall of 2000. As a result of these decisions, sales growth in the Contract
Manufacturing sector slowed to 12% for the third quarter, versus growth of 81%
for the first six months. While management is optimistic that the new agreements
will ultimately result in a renewal of the strong growth in this vital strategic
sector, the very nature of installing, starting-up and qualifying five new
production lines results in difficulty in forecasting sales for the fourth
quarter of fiscal 2000. Delays in equipment delivery, or customer-mandated
delays in product delivery schedules could result in lower sales for the next
three to six months. However, current projections which the customer has
provided for fiscal 2001 would ultimately result in strong sales growth for
Tufco.

Sales of Business Imaging products and services increased $0.9 million (15%) for
the quarter and offset a slight decline in sales from the first six months,
resulting in a year-to-date growth of $0.7 million or 4%. The primary reason for
the increase is continuing growth under a paper converting arrangement for a
large manufacturer of document printers. Sales of Paint Sundry products declined
$0.9 million (-16%) for the quarter and are down $1.8 million (-12%) for the
year-to-date. The loss of one major account resulted in the majority of the
decline in sales, as this customer elected to purchase its goods from overseas
competitors.

GROSS PROFIT:

Gross profit declined $1.5 million (42%) for the quarter, offsetting all of the
increase from the first six months of fiscal 2000. The primary driver behind the
decline was the sudden termination of the large production agreement discussed
earlier. Management has built an infrastructure to support growth in the
Contract Manufacturing sector which includes investment in manufacturing floor
space and equipment as well as significant increases in production employees and
support personnel. Despite the sudden unexpected drop in sales due to the early
termination of its largest production agreement, management elected to keep its
operating structure and related costs intact due to the summer and fall start-up
of the new production agreements. While this decision resulted in lower gross
profit for the third quarter, it was necessary to facilitate training,
installation and testing of equipment and eventual start-up of the new
production lines. In addition to these costs, the cost of base paper continued
to increase, resulting in higher material costs for the Business Imaging Sector.
Paper prices appear to be stabilizing and management has planned corresponding
increases in the selling prices of its products to compensate for the cost
increases. Paint Sundry margins dropped precipitously, owing to the sharp
decline in sales for the quarter. In recognition of the need to reduce operating
costs in this sector, as well as provide

                                       12

<PAGE>   13

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

GROSS PROFIT-CONTINUED:

improved customer service, on August 9, 2000 the Company announced plans to
consolidate all of its Paint Sundry operations into its Manning, South Carolina
facility, a transition which should save over $0.6 million in operating costs
annually due to the closing of Tufco's St. Louis facility. Management is
currently compiling estimates for the one-time costs of this transition plan,
but based on preliminary estimates, the savings in the first year will exceed
the cost of the move. The consolidation should be completed during the first
calendar quarter of 2001. With the consolidation of Paint Sundry operations and
the start-up of new Contract Manufacturing production lines, management
continues to be optimistic that Company margins and gross profit will eventually
return to the trend of improvement experienced in the first six months of fiscal
2000.

OPERATING EXPENSES:

Operating expenses declined $0.4 million for the quarter and are down $0.5
million for the nine month period, compared to the respective periods of fiscal
1999. The decline was primarily the result of the elimination of sales and
administrative costs associated with the marketing of the discontinued
Away-From-Home product line.

OPERATING INCOME:

Operating income declined $1.0 million (66%) for the quarter due to the decline
in gross profit from Contract Manufacturing and Paint Sundry sales and services,
offset by lower operating expenses. For the nine-month period, increased gross
profit from Contract manufacturing during the first six months offset the
declines in the third quarter, resulting in a $0.3 million (11%) increase in
operating profit for the nine-month period.

INTEREST EXPENSE:

Interest expense declined $26,000 (9%) and $82,000 (10%) for the three and nine
month periods due to lower average borrowings.

NET INCOME AND EARNINGS PER SHARE:

Net income declined $1.2 million for the quarter due primarily due to the
decrease in operating income. Additionally, the Company had recognized a $0.7
million pre-tax gain on the sale of assets in fiscal 1999 associated with the
discontinuance of the Away-From-Home product line. Net income for the nine month
period declined $0.3 million (15%). Adjusted for the one-time gain from the sale
of Away-From-Home assets in fiscal 1999, core net income increased $0.1 million
or 7% for the nine month period. Earnings per share declined to $0.02 (basic and
diluted) from $0.28 (basic and diluted) for the quarter and $0.39(basic) and
$0.38 (diluted) compared to $0.46 (basic and diluted) for the nine month period
versus one year ago. Adjusted for the one-time gain, earnings per share for
fiscal 1999 were $0.36 (basic and diluted).

As discussed earlier, Company profitability in the fourth quarter of fiscal 2000
will depend largely on the timing of the start-up of new production agreements
with the Company's largest customer. Any delays in the projected start dates
will negatively impact short-term profitability. Given the current projected
start-up schedule for these projects, management forecasts that earnings for the
fourth quarter will fall short of earnings for the same period of fiscal 1999.

LIQUIDITY AND CAPITAL RESOURCES:

For the nine-months ended June 30, 2000, the Company generated $5.3 million in
cash from

                                       13

<PAGE>   14


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

LIQUIDITY AND CAPITAL RESOURCES -CONTINUED:

operations. Net income after adjustment for non-cash items was $4.5 million
compared to $3.2 million in the prior year. Accounts payable increased $5.7
million, offsetting increases in accounts receivable ($1.9 million), inventories
($1.2 million) and other assets ($0.4 million) as well as a decrease in net
income taxes payable ($0.2 million). The increase in inventories resulted from
additional purchases of raw materials for the Business Imaging sector in advance
of announced price increases, and the addition to accounts receivable resulted
from advances made for production equipment for the new production agreements
totaling $2.4 million at June 30, 2000, for which the Company will be reimbursed
by the customer. Finally, the decline in other liabilities was the result of
lower bonus accruals as well as the timing of bi-weekly payrolls.

Net cash used in investing activities totaled $4.9 million and was comprised of
additions to property, plant and equipment ($5.8 million) offset by proceeds
from the disposition of older printing equipment. The majority of the cost of
the additions was attributable to a plant expansion at the Company's Green Bay
facility which was necessary to facilitate two of the new converting agreements.

Net cash from financing activities totaled $2.0 million and was the result of
increased borrowings as of June 30, 2000 ($1.2 million) and of cash received
from the exercise of stock options from former employees and directors ($0.8
million).

On July 10, 2000, the Company signed an amendment to its existing credit
agreement which provided for an additional $3.0 million available under its
revolving line of credit. The amendment also changed the formulas for
calculating certain financial covenants under the Company's credit agreement
with its lenders.

As of August 3, 2000, the Company had approximately $5.0 million available under
its revolving credit line.

The Company intends to retain earnings to finance future operations and
expansion and does not expect to pay any dividends within the foreseeable
future. In addition, the Company's primary lender must approve the payment of
any dividends.

FORWARD LOOKING STATEMENTS:

Management's discussion of the Company's 2000 quarterly periods in comparison to
1999, 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 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     Interest Rate Risk- The Company has entered into an interest rate swap
contract as a hedge under which the interest rate on its term debt is fixed at
5.87%, plus a profit spread for the lender of between 100 and 150 basis points,
depending on certain financial ratios achieved by the Company (see Note 7 to the
Company's Financial Statements for its fiscal year ended September 30, 1999). At
June 30, 2000, prevailing market interest rates were higher than the fixed rate
in the Company's swap agreement, and the Company would have received a premium

                                       14

<PAGE>   15

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK-CONTINUED:

from its lender if the debt under the swap were to have been paid in full at
that time. Prior to entering into the swap agreement, management had reviewed
the 40-year history of interest rates and had determined, and still believes,
that the Company's risk of potential future liability resulting from a material
decline in interest rates below the fixed level under the swap was not
significant.

     Foreign Currency Exchange Risk-The Company had no transactions in foreign
currencies, nor had it entered into any foreign currency futures contracts as of
June 30, 2000.

     Commodity Price Risk-The Company had not entered into any forward buying
agreements for the raw materials it uses to produce its goods and services as of
June 30, 2000.

     Other Relevant Market Risks-The Company does not own any marketable
securities, and management has not identified any other relevant market risks.

                                       15

<PAGE>   16


                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Not applicable.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

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

10.16   Second Amendment to Credit Agreement

B.      Reports on Form 8-K

        None.

                                       16

<PAGE>   17


                                   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 12, 2000          /s/ Louis LeCalsey, III
                               -----------------------------------------
                               Louis LeCalsey, III
                               President/Chief Executive Officer

Date: August 12, 2000          /s/ Greg Wilemon
                               ------------------------------------------
                               Greg Wilemon
                               Chief Financial Officer/Chief Operating Officer,
                               Secretary, Treasurer and Vice President - Finance

                                       17

<PAGE>   18


                                INDEX TO EXHIBITS


<TABLE>
<CAPTION>
EXHIBIT
NUMBER        DESCRIPTION
------        -----------

<S>           <C>
10.16         Second Amendment to Credit Agreement
27.1          Financial Data Schedule
</TABLE>