Ultralife Corporation Awarded $4.6 Million Communications Systems Vehicle Amplifier-Adaptor Order

Rhea-AI Summary

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.

Positive

• Awarded a $4.6 million order for Vehicle Amplifier-Adaptors.
• Order signifies strong demand for advanced communication systems.
• Shipments expected to begin in 2022, promising near-term revenue.

Negative

• None.

News Market Reaction – ULBI

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In the trading session that priced this news, ULBI declined 0.45%, reflecting a mild negative market reaction.

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NEWARK, N.Y., July 26, 2022 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) has been awarded a purchase order valued at approximately $4.6 million to supply its Vehicle Amplifier-Adaptors (“VAA”) to a global prime defense contractor. Ultralife’s VAA platform provides the soldier with an enhanced range of digital voice and data communications and operational flexibility. Shipments are expected to commence in 2022.

“We are delighted to receive this order that further attests to the effectiveness of our new product development strategy of designing and building technically advanced, integrated communication systems devices in collaboration with our strategic partners,” said Michael D. Popielec, Ultralife’s President and Chief Executive Officer.

About Ultralife Corporation

Ultralife Corporation serves its markets with products and services ranging from power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government, defense and commercial customers across the globe.

Headquartered in Newark, New York, the Company's business segments include Battery & Energy Products and Communications Systems. Ultralife has operations in North America, Europe and Asia. For more information, visit www.ultralifecorporation.com.

Company Contact: Ultralife Corporation Philip A. Fain (315) 210-6110 pfain@ulbi.com

Investor Relations Contact: LHA Jody Burfening (212) 838-3777 jburfening@lhai.com

FAQ

What is the value of the purchase order awarded to Ultralife Corporation?

The purchase order is valued at approximately $4.6 million.

What product is Ultralife Corporation supplying to the defense contractor?

Ultralife is supplying its Vehicle Amplifier-Adaptors (VAA).

When are shipments expected to commence for the new order?

Shipments are expected to begin in 2022.

Who is the CEO of Ultralife Corporation?

The CEO of Ultralife Corporation is Michael D. Popielec.

What market segments does Ultralife Corporation serve?

Ultralife serves government, defense, and commercial customers.