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Unique Fabricating, Inc. (UFAB) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Unique Fabricating, Inc.

CIK: 1617669 Ticker: UFAB
Exhibit 99.1


exhibit991image1.jpg

Unique Fabricating, Inc. Reports Fourth Quarter and Full Year 2017 Financial Results

Auburn Hills, MI - March 8, 2018 --
Unique Fabricating, Inc. ("Unique” or the "Company”)(NYSE MKT: UFAB), which engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration and harshness management and air/water sealing applications for the automotive and industrial appliance market, today announced its financial results for the fourth quarter and 12 months ended December 31, 2017.
Full Year 2017 Financial Highlights and Subsequent Events
Revenue of $175.3 million in the full year 2017, up 2.8% compared to $170.5 million in the full year 2016
Net income of $6.5 million, or $0.67 per basic and $0.66 per diluted share in the full year 2017, compared to $6.7 million, or $0.69 per basic and $0.68 per diluted share in the full year 2016
Income tax of $1.1 million in the full year 2017, net of $0.7 million primarily related to recent corporate tax reform, compared to $3.3 million in the full year 2016
Adjusted EBITDA of $18.0 million in the full year 2017, including $6.5 million for non-cash charges specifically related to depreciation and amortization and non-cash stock awards, compared to $19.0 million in the full year 2016, including $5.7 million for non-cash charges specifically related to depreciation and amortization and non-cash stock awards(1) 
Adjusted diluted earnings per share of $0.69 in the full year 2017 versus $0.78 in the full year 2016(1) 
Paid a quarterly cash dividend of $0.15 per share on March 7, 2018 for stockholders of record as of February 28, 2018


(1) For a reconciliation of GAAP to Non-GAAP results for Adjusted EBITDA and Adjusted diluted earnings per share please refer to the financial tables below.


“We executed well in the fourth quarter navigating industry production disruptions and reductions that began in the second half of 2017 as a result of a shift in automotive consumers’ buying preferences away from passenger cars,” commented John Weinhardt, Chief Executive Officer. “Our ability to adjust and shift capacity to align with our customers’ production activities was critical to our success and enabled us to sustain our gross margin, while quarterly revenues declined for the period on a year-over-year basis. Despite a 4.1% decline in automotive production for the full year, we are pleased that Unique's sales were up 2.8%, continuing our pattern of growth exceeding that of the automotive market. The fundamentals of our business remain strong, and we are encouraged by the slate of new program launches queued up for this spring and summer.”

“As we kick-off 2018, we remain focused on the successful launch of multiple new product programs that are under contract and are key drivers of growth in 2018 and beyond, while continuing to pursue additional applications, customers and opportunities for our products that will further expand our book of business,” Weinhardt added. “The strategic investments we are making in production to adjust capacity, streamline processes and improve quality are paying off and are positioning us for margin expansion and organic revenue growth in excess of the market in 2018.”



The following information was filed by Unique Fabricating, Inc. (UFAB) on Thursday, March 8, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Business Combinations
Business Combinations (tables)
Business Combinations - Narrative (details)
Business Combinations - Schedule Of Business Acquisitions By Acquisition (details)
Business Combinations - Schedule Of Pro Forma Information (unaudited) (details)
Contingencies
Derivative Financial Instruments
Derivative Financial Instruments (details)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Fair Value Measurements
Income Taxes
Income Taxes (tables)
Income Taxes - Narrative (details)
Income Taxes - Schedule Of Components Of Income Tax Expense (benefit) (details)
Income Taxes - Schedule Of Deferred Taxes (details)
Income Taxes - Schedule Of Income Before Income Taxes (details)
Income Taxes - Schedule Of Income Taxes Based On Federal Tax Rate (details)
Intangible Assets
Intangible Assets (tables)
Intangible Assets - Finite-lived Intangible Assets, Future Amortization Expense Schedule (details)
Intangible Assets - Schedule Of Intangible Assets By Major Class (details)
Inventory
Inventory (tables)
Inventory - Narrative (details)
Inventory - Schedule Of Inventory (details)
Long-term Debt
Long-term Debt (tables)
Long-term Debt - Narrative (details)
Long-term Debt - Schedule Of Long-term Debt (details)
Long-term Debt - Schedule Of Repayment Of Maturities (details)
Nature Of Business And Significant Accounting Policies
Nature Of Business And Significant Accounting Policies (details)
Nature Of Business And Significant Accounting Policies (policies)
Operating Leases
Operating Leases (tables)
Operating Leases - Narrative (details)
Operating Leases - Schedule Of Future Minimum Lease Payments (details)
Property, Plant, And Equipment
Property, Plant, And Equipment (tables)
Property, Plant, And Equipment - Narrative (details)
Property, Plant, And Equipment - Schedule Of Property, Plant, And Equipment (details)
Redeemable Common Stock
Redeemable Common Stock (details)
Related Party Transactions
Related Party Transactions (details)
Restructuring
Restructuring (tables)
Restructuring - Liability (details)
Restructuring - Narrative (details)
Retirement Plans
Retirement Plans (details)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data (unaudited) (details)
Selected Quarterly Financial Data (unaudited) (tables)
Stock Incentive Plans
Stock Incentive Plans (tables)
Stock Incentive Plans - Narrative (details)
Stock Incentive Plans - Schedule Of Stock Options And Stock Awards (details)
Stock Incentive Plans - Valuation Assumptions (details)
Subsequent Events
Subsequent Events (details)
Ticker: UFAB
CIK: 1617669
Form Type: 10-K Annual Report
Accession Number: 0001617669-18-000012
Submitted to the SEC: Thu Mar 08 2018 4:09:25 PM EST
Accepted by the SEC: Thu Mar 08 2018
Period: Sunday, December 31, 2017
Industry: Motor Vehicle Parts And Accessories

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