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 (NASDAQ: ULBI) generates a steady stream of news through its quarterly earnings releases, operational updates and regulatory announcements. As a manufacturer of power solutions and communications and electronics systems serving government/defense and commercial customers, the company’s news often centers on segment performance, backlog, acquisitions and operational initiatives.
On this page, readers can follow ULBI news related to its two primary business segments: Battery & Energy Products and Communications Systems. Ultralife’s earnings releases regularly break out revenue, gross profit and operating results by segment, and management commentary highlights trends in government/defense demand, commercial markets such as medical and oil & gas, and the contribution of acquired businesses like Electrochem Solutions, Inc.
Investors and analysts tracking Ultralife’s news will see updates on actions such as the closure of a battery pack assembly facility in Calgary, Canada and the relocation of equipment and inventory to Houston, Texas, as well as commentary on supply chain conditions, tariffs, and process improvement efforts. The company also issues announcements about conference calls and webcasts for its quarterly and annual results, along with notifications of late filings when additional time is needed to complete financial reporting after acquisitions.
In addition, Ultralife files Form 8-K reports covering material events, including quarterly results and changes in its independent registered public accounting firm. For anyone following ULBI stock, this news feed provides a centralized view of the company’s publicly reported financial performance, operational decisions and governance-related disclosures over time.
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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.
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.