Tufco expecting lower earnings

By Joel Dresang
Milwaukee Journal Sentinel

Consumer wipes maker Tufco Technologies Inc. (TFCO) said today that its fiscal fourth quarter won't look as good as it did last year because of economic slowdown.

The Green Bay-based customized converting company reported increased net income and sales for the third quarter and through the first nine month of its fiscal year but said that it doesn't expect to beat the fourth quarter of 2007, when it benefited from stronger demand and the launch of two new products.

For the three months that ended June 30, Tufco had a net income of $331,000 or 7 cents a diluted share on sales of $30.7 million, up from net income of $287,000 or 6 cents a share on sales of $29.8 million in the third quarter of 2007.

Through nine months, net income was $562,000 or 12 cents a share on sales of $85.1 million, compared with $465,000 or 10 cents a share on sales of $84.4 million the year before.

Before the announcement, Tufco's share price closed up 8 cents at $6.