Welcome to our dedicated page for Ultralife Corporation news (Ticker: ULBI), a resource for investors and traders seeking the latest updates and insights on Ultralife Corporation stock.
Ultralife Corporation (symbol: ULBI) is a global company that started as a battery manufacturer and has since diversified its offerings to include a wide range of portable and standby power solutions, as well as communications and electronics systems. Established in 1990 and publicly traded since 1992, Ultralife operates through two main segments: Battery and Energy Products and Communications Systems.
The Battery and Energy Products segment is the primary revenue generator and offers a comprehensive range of rechargeable and non-rechargeable batteries, chargers, and accessories. These products serve various markets, including commercial, medical, and military sectors. The product lineup includes lithium 9-volt batteries, cylindrical batteries, and other non-rechargeable battery types.
In the Communications Systems segment, Ultralife provides power and amplification solutions that complement numerous commercial and military portable radios and communication systems. This suite of products is critical for ensuring reliable performance in demanding environments.
Ultralife’s family of brands includes Ultralife Batteries, Able, McDowell Research, AMTI, and Accutronics Ltd, with operational footprints spanning North America, Europe, and Asia. This extensive brand portfolio and global presence enable Ultralife to reach diverse markets and meet various customer needs.
Recent achievements include the expansion of their LinkedIn showcase pages dedicated to their battery & energy solutions and communication systems. These platforms provide the latest updates and developments, ensuring stakeholders stay informed about new products, financial performance, and other significant company news.
Ultralife Corporation continues to innovate and adapt to the changing demands of its diverse customer base. By focusing on quality, reliability, and innovation, the company maintains its reputation as a trusted provider of power and communication solutions globally.
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.
Ultralife Corporation (NASDAQ: ULBI) will announce its first quarter results for the period ending March 31, 2023, on April 27, 2023, prior to market opening. A management conference call is scheduled for the same day at 8:30 AM ET, which will be accessible via phone or webcast. The company specializes in power solutions and communication systems, serving government and commercial clients globally. Its operations span North America, Europe, and Asia, with two key business segments: Battery & Energy Products and Communications Systems. For those interested in attending the earnings call, pre-registration is required for phone participants to ensure a smooth connection.
Ultralife Corporation (NASDAQ: ULBI) reported a fourth-quarter operating profit of $0.2 million on revenue of $36.1 million, up 51.9% from $23.8 million in Q4 2021. Adjusted EBITDA reached $2.0 million versus a loss of $0.1 million in the prior year. The increase in revenue was driven by an 84% surge in government/defense sales. The backlog grew to a record $111 million, reflecting strong demand. However, operating expenses rose 20.7% to $7.9 million due to a $0.8 million severance charge. For 2022, EPS remained at ($0.01), with revenue increasing to $131.8 million from $98.3 million in 2021.
Ultralife Corporation (NASDAQ: ULBI) has appointed Janie Goddard as its new Director. Chairman Bradford Whitmore expressed enthusiasm for her extensive leadership experience, particularly in global medical devices and industrial markets, which is expected to enhance Ultralife’s strategic growth. Goddard's prior roles include Divisional Chief Executive at Halma plc and Divisional President at Novanta, alongside leadership positions at Welch Allyn, Covidien, and Johnson & Johnson. With a B.S. from Washington University and an M.B.A. from Harvard, her expertise is poised to support Ultralife's business objectives.
Ultralife Corporation (NASDAQ: ULBI) announced that it will report its fourth quarter results for the period ending December 31, 2022, before the market opens on March 2, 2023. The delay in reporting is attributed to illnesses within its Accounting/Finance Team affecting year-end closing and auditing processes. An investor conference call is scheduled for the same day at 8:30 AM ET, with a new registration process for participants. The company, headquartered in Newark, New York, provides products and services in power solutions and communications systems globally.
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