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 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 acquired Excell Battery Group for $23.5 million in cash, enhancing its revenue diversification strategy. Excell, a leader in high-performance smart battery systems, generated $21.2 million in revenue for the trailing twelve months. This transaction aligns with Ultralife's goal to expand its Battery & Energy Products business and tap into new OEM device markets. The acquisition is expected to be accretive on an EPS basis within a year, leveraging Excell's technical resources for global product initiatives.
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Ultralife Corporation (NASDAQ: ULBI) reported a third quarter operating loss of $0.8 million on revenues of $21.8 million, a 10.7% decline compared to $24.4 million in Q3 2020. The decrease was largely due to supply chain bottlenecks affecting both the company's and customers' manufacturing schedules, with a notable 39.7% drop in government/defense sector sales. Despite these challenges, commercial sales rose 5%, and backlog increased 22% over the previous quarter. The company maintained a strong cash position of $15.9 million.
Ultralife Corporation (NASDAQ: ULBI) has secured a purchase order worth approximately $4.2 million to deliver Vehicle Amplifier-Adaptors (VAA) for the U.S. Army’s Leader Radio program, developed by Thales Defense & Security. Shipments are set to begin in 2022. The Leader Radio, following successful operational tests, enhances soldiers' communication capabilities by integrating voice and data functionalities into one system. Ultralife's President, Michael D. Popielec, expressed satisfaction with this follow-on order, highlighting its alignment with their strategic development approach.
Ultralife Corporation (NASDAQ: ULBI) will announce its third quarter financial results for the period ending September 30, 2021, prior to market opening on Thursday, October 28, 2021. The company will hold an investor conference call and webcast at 8:30 AM ET on the same day. To participate, dial (800) 915-4836. A replay of the call will be available shortly after. Ultralife, headquartered in Newark, New York, offers a range of products in power solutions and communications, serving government and commercial clients globally.
Ultralife Corporation (NASDAQ: ULBI) reported a second-quarter operating income of $1.1 million on $26.8 million in revenue, down from $28.6 million in Q2 2020. Despite a 3% sequential sales increase from Q1, year-over-year revenue decreased by 6.3%. Notably, oil & gas revenues surged by 49% year-over-year, while sales from government/defense dropped by 13.2%. Delayed shipments due to supply chain issues impacted revenue by approximately $1.5 million. Cash position improved by 15.9% to $15.8 million, while debt decreased by 36.6% to $0.7 million.
Ultralife Corporation (NASDAQ: ULBI) will announce its second quarter results for the period ending June 30, 2021, before market opening on July 29, 2021. Management will conduct a conference call at 8:30 AM ET on the same day. Investors can join by calling (800) 915-4836 or via a live webcast available on the company’s investor relations page. A replay of the webcast will be accessible shortly after the live event. Ultralife specializes in power solutions and communication systems, serving various global markets including government and defense.
Ultralife Corporation (NASDAQ: ULBI) has secured a firm-fixed price contract from the U.S. Army for Conformal Wearable Batteries, valued at up to $168 million over three years. The contract may extend to an additional $350 million based on one-year options. This award is part of a $1.25 billion program aimed at enhancing soldier mobility with lightweight batteries that sustain operations for up to 24 hours. Ultralife's selection underscores its reputation for reliability and safety in military applications.
Ultralife Corporation (NASDAQ: ULBI) reported a slight increase in revenue to $26.0 million for Q1 2021, up 0.6% year-over-year. Operating income fell to $1.0 million, down from $1.5 million in the same quarter last year. The company saw a 32% increase in medical device battery sales and 30% growth in government/defense sales, but these were offset by a 30% decline in oil & gas market sales and a 23.6% decrease in Communications Systems sales. Net income was $0.7 million or $0.04 per diluted share, reflecting $2.0 million adverse impact from COVID-19.
Ultralife Corporation (NASDAQ: ULBI) is set to announce its first quarter results for the period ending March 31, 2021, before the market opens on April 29, 2021. The management will follow with an investor conference call at 8:30 AM ET the same day. Interested participants can join the call by dialing (800) 915-4836. A live webcast will also be available on the company's website, with a replay accessible shortly after the call. Ultralife offers a range of products and services in power solutions and communication systems globally.