UFP Technologies (UFPT) reported Q1 adjusted net income Tuesday of $2.47 per diluted share, up from $1.77 a year earlier.

Four analysts polled by FactSet expected $2.01.

Net sales for the quarter ended March 31 were $148.1 million, up from $105 million a year earlier.

The analysts surveyed by FactSet expected $139.9 million.

The company's shares were up 4.5% in recent Tuesday premarket activity.