Welcome to our dedicated page for Ultralife news (Ticker: ULBI), a resource for investors and traders seeking the latest updates and insights on Ultralife stock.
Ultralife Corporation (NASDAQ: ULBI) generates a steady stream of news through its quarterly earnings releases, operational updates and regulatory announcements. As a manufacturer of power solutions and communications and electronics systems serving government/defense and commercial customers, the company’s news often centers on segment performance, backlog, acquisitions and operational initiatives.
On this page, readers can follow ULBI news related to its two primary business segments: Battery & Energy Products and Communications Systems. Ultralife’s earnings releases regularly break out revenue, gross profit and operating results by segment, and management commentary highlights trends in government/defense demand, commercial markets such as medical and oil & gas, and the contribution of acquired businesses like Electrochem Solutions, Inc.
Investors and analysts tracking Ultralife’s news will see updates on actions such as the closure of a battery pack assembly facility in Calgary, Canada and the relocation of equipment and inventory to Houston, Texas, as well as commentary on supply chain conditions, tariffs, and process improvement efforts. The company also issues announcements about conference calls and webcasts for its quarterly and annual results, along with notifications of late filings when additional time is needed to complete financial reporting after acquisitions.
In addition, Ultralife files Form 8-K reports covering material events, including quarterly results and changes in its independent registered public accounting firm. For anyone following ULBI stock, this news feed provides a centralized view of the company’s publicly reported financial performance, operational decisions and governance-related disclosures over time.
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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