Welcome to our dedicated page for Ultralife Corporation news (Ticker: ULBI), a resource for investors and traders seeking the latest updates and insights on Ultralife Corporation stock.
Ultralife Corporation (symbol: ULBI) is a global company that started as a battery manufacturer and has since diversified its offerings to include a wide range of portable and standby power solutions, as well as communications and electronics systems. Established in 1990 and publicly traded since 1992, Ultralife operates through two main segments: Battery and Energy Products and Communications Systems.
The Battery and Energy Products segment is the primary revenue generator and offers a comprehensive range of rechargeable and non-rechargeable batteries, chargers, and accessories. These products serve various markets, including commercial, medical, and military sectors. The product lineup includes lithium 9-volt batteries, cylindrical batteries, and other non-rechargeable battery types.
In the Communications Systems segment, Ultralife provides power and amplification solutions that complement numerous commercial and military portable radios and communication systems. This suite of products is critical for ensuring reliable performance in demanding environments.
Ultralife’s family of brands includes Ultralife Batteries, Able, McDowell Research, AMTI, and Accutronics Ltd, with operational footprints spanning North America, Europe, and Asia. This extensive brand portfolio and global presence enable Ultralife to reach diverse markets and meet various customer needs.
Recent achievements include the expansion of their LinkedIn showcase pages dedicated to their battery & energy solutions and communication systems. These platforms provide the latest updates and developments, ensuring stakeholders stay informed about new products, financial performance, and other significant company news.
Ultralife Corporation continues to innovate and adapt to the changing demands of its diverse customer base. By focusing on quality, reliability, and innovation, the company maintains its reputation as a trusted provider of power and communication solutions globally.
Ultralife (NASDAQ: ULBI) reported strong Q2 2024 results, with sales reaching $43.0 million, up from $42.7 million in Q2 2023. The Battery & Energy Products segment achieved record-high sales, growing 8.3%. Gross profit increased to $11.6 million (26.9% of revenue), compared to $10.6 million (24.8%) in Q2 2023. Operating income rose 6.9% to $3.9 million. GAAP EPS was $0.18, down from $0.21 in Q2 2023, which included a $0.07 per share Employee Retention Credit. The company reported an Adjusted EBITDA of $5.4 million (12.6% of sales) and a backlog of $93.0 million. Notably, Ultralife reduced its debt by 52.2% to $12.1 million.
Ultralife (NASDAQ: ULBI) will release its second quarter results for the period ending June 30, 2024, on July 25, 2024, before market open.
Management will host an investor conference call and webcast at 8:30 AM ET on the same day. Participants are required to pre-register for the call to ensure a smooth connection.
A live webcast will be available on the company's investor website, with a replay accessible shortly after the live broadcast.
Ultralife (NASDAQ: ULBI) has been added to the Russell 2000® Index and the broader Russell 3000® Index, effective July 1, 2024. This reconstitution of the index highlights the company's improved financial profile and earnings power. According to Mike Manna, CEO, the inclusion underscores Ultralife's success in new product investments and margin recapture. The addition to these indexes is expected to increase visibility among institutional investors, aiding in the company’s goal for sustainable, profitable growth. The annual reconstitution identifies the 4,000 largest U.S. stocks by market capitalization as of April 30, 2024, and this inclusion will hold for one year.
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