Tufco (TFCO) 8-K Tufco Technologies, Inc. Announces Fiscal Year 2008 Second Quarter and First Six Months Results

Exhibit 99.1

NEWS RELEASE

For Immediate Release

TUFCO TECHNOLOGIES, INC. ANNOUNCES
FISCAL YEAR 2008 SECOND QUARTER AND FIRST SIX MONTHS RESULTS

GREEN BAY, WI (May 13, 2008)—Tufco Technologies, Inc. (NASDAQ: TFCO), the largest contract converter of branded wet and dry wipes in North America and a leader in specialty printing services and business imaging products, today announced that fiscal year 2008 second quarter sales were $29,604,000, up 7% over fiscal year 2007 second quarter sales. For the first six months of 2008, sales were $54,422,000, compared to $54,605,000 for the 2007 first six months.

Net income per diluted share for the 2008 second quarter was $0.04 per share compared to $0.01 net income per diluted share for the second quarter of 2007. For the first six months of 2008, net income per diluted share was $0.05 per share compared to $0.04 per share for the first six months of 2007.

In commenting on the results, Louis LeCalsey, Tufco’s President and CEO said, “During the last year our contract manufacturing division has been focusing on reducing waste and increasing operating efficiencies. Those efforts are paying off in 2008. A second result of our efficiency improvements is that we have doubled converting capacity on our existing equipment from a year ago. We have multiple sales initiatives underway to profitably utilize this increased capacity.”

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

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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 2008 results in comparison to fiscal 2007 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 changes in customer demand for its products, cancellation of production agreements by significant customers including two Contract Manufacturing customers it depends upon for a significant portion of its business, material increases in the cost of base paper stock, competition in the Company’s product areas, an inability of management to successfully reduce operating expenses including labor and waste costs in relation to net sales without damaging the long-term direction of the Company, the Company’s ability to increase sales and earnings as a result of new projects, the Company’s ability to successfully install new equipment on a timely basis, the Company’s ability to produce new products, the Company’s ability to continue to improve profitability, the Company’s ability to successfully attract new customers through our sales initiatives to fill its newly created capacity, the effects of the economy in general and the Company’s ability to improve the run rates for its products. 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.

Contact: Michael B. Wheeler, VP and CFO
Tufco Technologies, Inc.
P. O. Box 23500
Green Bay, WI 54305-3500
(920) 336-0054
(920) 336-9041 (Fax)

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TUFCO TECHNOLOGIES, INC.
Condensed Balance Sheets
(Amounts in 000’s)

	March 31,			September 30,
	2008			2007
ASSETS
Cash & Cash Equivalents	$	6		$	7
Accounts Receivable — Net		14,880			15,302
Inventories		15,285			16,355
Other Current Assets		1,548			1,368
Total Current Assets		31,719			33,032
Property, Plant and Equipment — Net		18,357			19,002
Goodwill — Net		7,212			7,212
Other Assets		121			127
Total	$	57,409		$	59,373
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts Payable	$	9,940		$	11,707
Accrued Liabilities		735			513
Income Taxes Payable		126			107
Other Current Liabilities		761			717
Total Current Liabilities		11,562			13,044
Long-Term Debt		5,692			6,192
Deferred Income Taxes		2,529			2,537
Common Stock and Paid-in Capital		25,371			25,351
Retained Earnings		13,622			13,391
Treasury Stock		(1,367	)		(1,142	)
Total Stockholders’ Equity		37,626			37,600
Total	$	57,409		$	59,373

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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,
	2008		2007		2008			2007
Net Sales	$	29,604	$	27,587	$	54,422		$	54,605
Cost of Sales		28,162		26,401		51,875			52,127
Gross Profit		1,442		1,186		2,547			2,478
SG&A Expense		1,046		951		2,016			1,952
Operating Income		396		235		531			526
Interest Expense (Income)		81		158		169			250
Interest Income and Other (Income) Expense		—		—		(18	)		(17	)
Income Before Income Tax		315		77		380			293
Income Tax Expense		124		30		149			115
Net Income	$	191	$	47	$	231		$	178
Net Income Per Share:
Basic	$	0.04	$	0.01	$	0.05		$	0.04
Diluted	$	0.04	$	0.01	$	0.05		$	0.04
Weighted Average Common Shares Outstanding:
Basic		4,526,106		4,535,244		4,530,875			4,535,244
Diluted		4,535,726		4,563,171		4,544,167			4,558,411

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