One general problem with their earnings releases is that they don't necessarily highlight what could be considered non-recurring plusses or minuses. In this last quarter, based on the 10-k, they experienced a hit to eps of .03 due to closing of Ventura plant.
Good catch algo! Another interesting item in the 10K, Note 18, is that the PAC acquisition at the start of the quarter would have been $0.09/sh accretive on a pro-forma basis. Between the one-time charge and the acquisition, UFPT's earnings power seems to be $0.12/sh higher at the start of the year than shown by the GAAP results from 2012.
I pencil in $1.55+0.12 = $1.67/sh earnings power at the end of 2012, and natural growth from there during 2013. Yet current analyst earnings estimates for 2013 are $1.68/sh during 2013, just a penny higher than before the acquisition and one-time charge. Looks like the analysts have slept through the 10K, and some estimate beats/raises will be coming for UFPT.
IMHO one advantage of their short press releases and no conference calls is that it is so much easier to know more than other investors. Just read the SEC filings.