Tufco Technologies, Inc. Announces Fiscal Year 2013 Second Quarter and First Six Months Results

Tufco Technologies, Inc. Announces Fiscal Year 2013 Second Quarter and First
Six Months Results

GREEN BAY, Wis., May 14, 2013 (GLOBE NEWSWIRE) -- Tufco Technologies, Inc.
(Nasdaq:TFCO), a leading provider of branded contract wet and dry wipes
converting in North America and a provider of specialty printing services and
business imaging products, today announced that fiscal year 2013 second
quarter sales were $24,167,000, compared to $24,139,000 for 2012 second
quarter sales. For the first six months of fiscal 2013, sales were
$52,515,000, compared to $49,816,000 for the first six months of fiscal 2012,
an increase of 5%.

Net income per diluted share for the second quarter of fiscal 2013 was $0.04
compared to a net loss of $0.12 per diluted share for the second quarter of
fiscal 2012. For the first six months of fiscal 2013, net income per diluted
share was $0.21 compared to a net loss per diluted share of $0.26 for the
first six months of fiscal 2012, an improvement per diluted share of $0.47.

In commenting on the results, Jim Robinson, Tufco's President and CEO said,
"The Company has increased sales volumes at Green Bay in the second quarter
and first six months of fiscal 2013 compared to the same periods of fiscal
2012 which, in combination with our focus on reducing operating costs,
contributed to increased earnings. Our Newton operation has shown consistent
improved gross profit."

"Additionally, during the second quarter we reduced borrowings under our
credit facility by almost $600,000 to $4,100,000," he concluded.

Tufco, headquartered in Green Bay, Wisconsin, has manufacturing and
warehousing operations in Wisconsin and North Carolina.

Information about the results reported herein, or copies of the Company's
Quarterly Reports, may be obtained by calling the contact person listed below.

This press release, including the discussion of the Company's fiscal 2013
results in comparison to fiscal 2012 contains forward-looking statements
regarding current expectations, risks and uncertainties for future periods.
The actual results could differ materially from those discussed herein due to
a variety of factors such as the Company's ability to increase sales, changes
in customer demand for its products, cancellation or non renewal of production
agreements by significant customers including two Contract Manufacturing
customers it depends upon for a significant portion of its business, its
ability to meet competitors' prices on products to be sold under these
production agreements, the effects of the economy in general, the Company's
inability to benefit from any general economic improvements, react to material
increases in the cost of raw materials or competition in the Company's product
areas, the ability of management to successfully reduce operating expenses,
the Company's ability to increase sales and earnings as a result of new
projects and services, the Company's ability to successfully install new
equipment on a timely basis and to improve productivity through equipment
upgrades, the Company's ability to continue to produce new products, the
Company's ability to comply with the financial covenants in its credit
facility, the Company's ability to extend or refinance its credit facility
upon expiration, the Company's ability to sustain profitable operations, the
Company's ability to successfully attract new customers through its sales
initiatives and strengthening its new business development efforts, the
Company's ability to improve the run rates for its products, and changes to
regulations governing its operations or other factors beyond the Company's
control. Therefore, the financial data for the periods presented may not be
indicative of the Company's future financial condition or results of
operations.The Company assumes no responsibility to update the
forward-looking statements contained in this press release.

TUFCO TECHNOLOGIES, INC.
Condensed Consolidated Balance Sheets
(Amounts in 000's)
                                             
                                    March 31, September 30,
                                     2013      2012
                                             
ASSETS                                        
                                             
Cash                                 $8      $8
Accounts Receivable - Net            13,223   16,457
Inventories - Net                    14,888   17,450
Other Current Assets                 872      551
Total Current Assets                 28,991   34,466
                                             
Property, Plant and Equipment - Net  15,583   15,848
Goodwill                            7,212    7,212
Other Assets - Net                   134      130
Total                                $51,920 $57,656
                                             
                                             
LIABILITIES AND STOCKHOLDERS' EQUITY          
                                             
Revolving Line of Credit             $4,128  $7,280
Current Portion of Note Payable      282      274
Accounts Payable                     6,933    10,618
Accrued Liabilities                  636      615
Other Current Liabilities            614      670
Total Current Liabilities            12,593   19,457
                                             
Long-Term Debt                      351      494
Deferred Income Taxes                2,350    1,989
                                             
Common Stock and Paid-in Capital     25,674   25,655
Retained Earnings                    13,109   12,218
Treasury Stock                      (2,157)  (2,157)
Total Stockholders' Equity           36,626   35,716
                                             
Total                               $51,920 $57,656



TUFCO TECHNOLOGIES, INC.
Condensed Consolidated Statements of Operations
(Amounts in 000's except share and per share data)

                                  Three Months Ended    Six Months Ended
                                   March 31,            March 31,
                                  2013       2012       2013       2012
                                                               
Net Sales                          $24,167  $24,139  $52,515  $49,816
                                                                
Cost of Sales                      22,308    23,416    48,163    48,659
                                                                
Gross Profit                       1,859     723       4,352     1,157
                                                                
SG&A Expense                       1,570     1,444     2,832     2,791
Gain on Asset Sales                --        --        --        --
Operating Income (Loss)           289       (721)     1,520     (1,634)
                                                                
Interest Expense                  48        70        108       137
Interest Income and Other Income   --        --        (9)       (8)
Income (Loss) Before Income Taxes  241       (791)     1,421     (1,763)
                                                                
Income Tax Expense (Benefit)      90        (295)     530       (657)
                                                                
Net Income (Loss)                 $151     $(496)   $891     $(1,106)
                                                                
Net Income (Loss) Per Share:                                     
Basic                              $0.04    $(0.12)  $0.21    $(0.26)
Diluted                            $0.04    $(0.12)  $0.21    $(0.26)
                                                                
Weighted Average Common Shares                                   
Outstanding:
Basic                              4,308,947 4,308,947 4,308,947 4,308,947
Diluted                            4,319,933 4,308,947 4,317,903 4,308,947

CONTACT: Michael B. Wheeler, VP and CFO
         Tufco Technologies, Inc.
         P. O. Box 23500
         Green Bay, WI 54305-3500
         (920) 336-0054