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 (ULBI) delivers advanced power solutions and communication systems for defense, medical, and industrial sectors worldwide. This news hub provides investors and professionals with essential updates on operational developments, financial performance, and strategic initiatives.
Access ULBI's official press releases alongside curated industry analysis covering battery technology advancements, government contracts, and product innovations. Our repository includes earnings announcements, partnership disclosures, and regulatory filings – all organized for efficient research and trend monitoring.
Key updates feature developments in lithium battery systems, military communication upgrades, and energy storage solutions for critical infrastructure. Bookmark this page for real-time notifications on ULBI's progress in powering mission-critical applications through engineered reliability.
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.
Ultralife Corporation (NASDAQ: ULBI) reported a breakeven operating income and an adjusted EBITDA of $1.2 million on revenue of $31.9 million for Q1 2023, reflecting a 5.1% increase in revenue year-over-year. The results were adversely affected by a cybersecurity ransomware attack, which hampered operations and order processing. In the same period last year, the company incurred a $0.3 million operating loss.
Despite the challenges, gross profit improved to $7.4 million, with a gross margin of 23.3%. Operating expenses rose slightly to $7.4 million, primarily due to investments in product development and cyber-insurance costs. Notably, backlog increased by 30.2% to $108.1 million, indicating strong demand from government/defense and commercial markets.
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