Ultralife Corporation reports developments in power solutions, battery products, and communications systems for government/defense and commercial customers. The company operates through Battery & Energy Products and Communications Systems, with updates often covering rechargeable and non-rechargeable batteries, charging systems, communications and electronics accessories, custom-engineered systems, and demand from medical, industrial, oil and gas, safety, security, and energy markets.
Recurring news for ULBI includes quarterly operating results, segment sales and margins, backlog, order timing, new product programs, acquisition integration following Electrochem Solutions, and operational actions affecting manufacturing capacity and efficiency.
Ultralife Corporation has appointed Michael E. Manna as the new President & CEO, effective immediately, succeeding Michael D. Popielec, who will remain in an advisory role for 60 days to ensure a smooth transition. Manna has been with Ultralife for nearly 30 years, holding various leadership positions, including leading the Battery & Energy Products segment. The Board praised Popielec’s contributions over 12 years that included executing a global diversification strategy and multiple acquisitions to enhance Ultralife's market footprint.
Ultralife Corporation (ULBI) reported third-quarter 2022 results with revenue of $33.2 million, a 52.7% increase from $21.8 million a year prior. The operating loss was $0.6 million, an improvement from a $0.8 million loss last year. Government/defense revenue surged 99.8%, significantly contributing to total growth. Despite increased revenue, gross profit margins declined from 23.5% to 20.2% due to supply chain issues and inflation. The backlog grew to $106.2 million, indicating potential future growth.
Ultralife Corporation (NASDAQ: ULBI) has secured a purchase order worth approximately $5.5 million to provide vehicle communications systems for the U.S. Army through a global defense contractor. This contract highlights the effectiveness of Ultralife's development strategy in creating advanced communication systems. Shipments are anticipated to start and conclude in 2023, reinforcing Ultralife's role in a multi-year program focused on enhancing soldiers' communication capabilities.
Ultralife Corporation (NASDAQ: ULBI) is set to release its third quarter results for the period ending September 30, 2022, on October 27, 2022, before market hours. The management will conduct an investor conference call and webcast at 8:30 AM ET on the same day. Investors can dial in or access the live webcast to stay informed about the company's performance. Ultralife operates in power solutions and communications systems, serving government and commercial customers worldwide.
Ultralife Corporation (NASDAQ: ULBI) has secured a contract worth approximately $7.5 million to provide A-320 amplifiers and A-320HVA radio vehicle mounts to an international defense contractor as part of a government modernization initiative. Deliveries are scheduled to begin in Q4 2022 and extend into the first half of 2023. This agreement highlights Ultralife's strategy to expand its global presence and solidify its role in advanced communication systems for military applications.
Ultralife Corporation (NASDAQ: ULBI) reported a 20% year-over-year revenue increase to $32.1 million for Q2 2022, driven by the Excell acquisition. Operating income was $0.8 million, down from $1.1 million in Q2 2021. Gross profit rose slightly to $7.6 million, but gross margins fell to 23.8% due to supply chain disruptions and higher costs. Communications Systems sales plummeted 49% to $2.0 million due to shipping delays. Despite ongoing challenges, the company remains focused on product development and profitable growth.
Ultralife Corporation (NASDAQ: ULBI) has received a purchase order worth approximately $4.6 million from a global defense contractor for its Vehicle Amplifier-Adaptors (VAA). This order underscores the company's commitment to advanced communication systems. Deliveries are slated to begin in 2022. CEO Michael D. Popielec expressed enthusiasm for the order, highlighting its validation of Ultralife's product development strategy. The company, which operates in North America, Europe, and Asia, produces a range of power solutions and communication systems.
Ultralife Corporation (NASDAQ: ULBI) is set to report its second quarter results for the period ended June 30, 2022, before market opening on July 28, 2022. The management will host an investor conference call at 8:30 AM ET on the same day. Investors can participate by dialing (800) 915-4836 or through a live webcast available on the company’s website. Ultralife offers a range of products and services from power solutions to communication systems, serving global government, defense, and commercial markets.
Ultralife Corporation (NASDAQ: ULBI) reported an operating loss of $0.3 million on revenue of $30.4 million for Q1 2022, a 16.9% increase from Q1 2021's $26.0 million. Commercial sales surged by 62.1%, while government/defense sales dropped 38.8%. The backlog grew to approximately $92 million, with $74 million expected to ship in 2022. Despite strong demand, profitability was pressured by rising input costs and increased operating expenses, which reached $7.3 million. The net loss was $0.2 million, down from a net income of $0.7 million in Q1 2021.
Ultralife Corporation (NASDAQ: ULBI) is set to release its first quarter financial results for the period ending March 31, 2022, on April 28, 2022, before market opening. Management will conduct an investor conference call at 8:30 AM ET on the same day, which can be accessed by dialing (800) 915-4836. A live webcast will also be available on the company's website, along with a replay shortly thereafter. Ultralife specializes in power solutions and communications systems for global government, defense, and commercial markets.