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Ultralife Corporation Reports Fourth Quarter Results

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Ultralife (NASDAQ: ULBI) reported Q4 2024 results with sales of $43.9 million, slightly down from $44.5 million in Q4 2023. The quarter saw an 11.7% increase in Battery & Energy Products sales but a 55.1% decrease in Communications Systems sales.

Key Q4 metrics include gross profit of $10.6 million (24.2% margin), operating income of $1.5 million (including $1.1 million in Electrochem acquisition costs), and GAAP EPS of $0.01. The company completed the acquisition of Electrochem on October 31, 2024, contributing $6.1 million to revenue.

For full-year 2024, sales reached $164.5 million, a 3.7% increase year-over-year, with operating income of $10.0 million and GAAP EPS of $0.38. The company's backlog and high confidence orders stood at $102.2 million exiting 2024, up from $78.0 million in Q3.

Ultralife (NASDAQ: ULBI) ha riportato i risultati del Q4 2024 con vendite di $43,9 milioni, leggermente in calo rispetto ai $44,5 milioni del Q4 2023. Nel trimestre si è registrato un aumento dell'11,7% nelle vendite di Prodotti per Batterie ed Energia, ma una diminuzione del 55,1% nelle vendite dei Sistemi di Comunicazione.

I principali indicatori del Q4 includono un utile lordo di $10,6 milioni (margine del 24,2%), un reddito operativo di $1,5 milioni (inclusi $1,1 milioni di costi per l'acquisizione di Electrochem) e un utile per azione GAAP di $0,01. L'azienda ha completato l'acquisizione di Electrochem il 31 ottobre 2024, contribuendo con $6,1 milioni ai ricavi.

Per l'intero anno 2024, le vendite hanno raggiunto $164,5 milioni, con un aumento del 3,7% rispetto all'anno precedente, con un reddito operativo di $10,0 milioni e un utile per azione GAAP di $0,38. L'azienda ha chiuso il 2024 con un portafoglio ordini e ordini ad alta fiducia pari a $102,2 milioni, in aumento rispetto ai $78,0 milioni del Q3.

Ultralife (NASDAQ: ULBI) reportó resultados del Q4 2024 con ventas de $43,9 millones, ligeramente por debajo de los $44,5 millones en el Q4 2023. El trimestre vio un aumento del 11,7% en las ventas de Productos de Batería y Energía, pero una disminución del 55,1% en las ventas de Sistemas de Comunicaciones.

Las métricas clave del Q4 incluyen un beneficio bruto de $10,6 millones (margen del 24,2%), un ingreso operativo de $1,5 millones (incluyendo $1,1 millones en costos de adquisición de Electrochem) y una EPS GAAP de $0,01. La compañía completó la adquisición de Electrochem el 31 de octubre de 2024, contribuyendo con $6,1 millones a los ingresos.

Para el año completo 2024, las ventas alcanzaron $164,5 millones, un aumento del 3,7% interanual, con un ingreso operativo de $10,0 millones y una EPS GAAP de $0,38. El backlog de la compañía y los pedidos de alta confianza se situaron en $102,2 millones al finalizar 2024, en comparación con los $78,0 millones en el Q3.

울트라라이프 (NASDAQ: ULBI)는 2024년 4분기 실적을 보고하며 매출이 $43.9 백만으로, 2023년 4분기의 $44.5 백만에서 약간 감소했다고 발표했습니다. 이번 분기에는 배터리 및 에너지 제품 매출이 11.7% 증가했지만, 통신 시스템 매출은 55.1% 감소했습니다.

4분기의 주요 지표로는 총 이익이 $10.6 백만(24.2% 마진), 운영 소득이 $1.5 백만(여기에는 Electrochem 인수 비용으로 $1.1 백만 포함), GAAP EPS가 $0.01입니다. 회사는 2024년 10월 31일에 Electrochem 인수를 완료하여 $6.1 백만의 매출에 기여했습니다.

2024년 전체 연도에 대해 매출은 $164.5 백만에 달했으며, 전년 대비 3.7% 증가했으며, 운영 소득은 $10.0 백만, GAAP EPS는 $0.38입니다. 회사의 적체 및 높은 신뢰 주문은 2024년 종료 시 $102.2 백만에 달했으며, 이는 3분기의 $78.0 백만에서 증가한 수치입니다.

Ultralife (NASDAQ: ULBI) a publié ses résultats du 4ème trimestre 2024 avec des ventes de $43,9 millions, légèrement en baisse par rapport à $44,5 millions au 4ème trimestre 2023. Ce trimestre a connu une augmentation de 11,7% des ventes de Produits de Batteries et d'Énergie, mais une diminution de 55,1% des ventes des Systèmes de Communication.

Les indicateurs clés du 4ème trimestre incluent un bénéfice brut de $10,6 millions (marge de 24,2%), un revenu d'exploitation de $1,5 million (y compris $1,1 million de coûts d'acquisition d'Electrochem) et un BPA GAAP de $0,01. L'entreprise a finalisé l'acquisition d'Electrochem le 31 octobre 2024, contribuant à hauteur de $6,1 millions au chiffre d'affaires.

Pour l'année entière 2024, les ventes ont atteint $164,5 millions, soit une augmentation de 3,7% par rapport à l'année précédente, avec un revenu d'exploitation de $10,0 millions et un BPA GAAP de $0,38. Le carnet de commandes et les commandes de haute confiance de l'entreprise se sont élevés à $102,2 millions à la fin de 2024, en hausse par rapport à $78,0 millions au 3ème trimestre.

Ultralife (NASDAQ: ULBI) berichtete über die Ergebnisse des 4. Quartals 2024 mit einem Umsatz von $43,9 Millionen, leicht rückläufig von $44,5 Millionen im 4. Quartal 2023. Im Quartal gab es einen Anstieg von 11,7% bei den Verkäufen von Batterie- und Energieprodukten, jedoch einen Rückgang von 55,1% bei den Verkäufen von Kommunikationssystemen.

Wichtige Kennzahlen für das 4. Quartal umfassen einen Bruttogewinn von $10,6 Millionen (24,2% Marge), ein Betriebsergebnis von $1,5 Millionen (einschließlich $1,1 Millionen an Kosten für die Übernahme von Electrochem) und einen GAAP EPS von $0,01. Das Unternehmen schloss die Übernahme von Electrochem am 31. Oktober 2024 ab und trug mit $6,1 Millionen zum Umsatz bei.

Für das Gesamtjahr 2024 erreichten die Verkäufe $164,5 Millionen, was einem Anstieg von 3,7% im Jahresvergleich entspricht, mit einem Betriebsergebnis von $10,0 Millionen und einem GAAP EPS von $0,38. Der Auftragsbestand und die hochwertigen Aufträge des Unternehmens betrugen zum Ende des Jahres 2024 $102,2 Millionen, ein Anstieg von $78,0 Millionen im 3. Quartal.

Positive
  • Backlog increased significantly to $102.2 million from $78.0 million in Q3 2024
  • Battery & Energy Products sales grew 11.7% to $39.9 million
  • Full-year revenue increased 3.7% to $164.5 million
  • Government/defense sales increased 48.1% in Battery segment
Negative
  • Q4 EPS declined to $0.01 from $0.17 year-over-year
  • Communications Systems sales decreased 55.1% to $4.0 million
  • Gross margin declined to 24.2% from 25.6% year-over-year
  • Operating income decreased to $1.5 million from $3.6 million in Q4 2023

Insights

Ultralife's Q4 results reveal significant transition pressures following the Electrochem acquisition. The $1.5 million operating income represents a 58.3% decline year-over-year, heavily impacted by $1.1 million in one-time acquisition costs. The dramatic 55.1% drop in the higher-margin Communications Systems segment creates a concerning revenue mix shift that wasn't fully offset by the 11.7% growth in Battery & Energy Products.

The company's debt position has more than doubled from $25.6 million to $54.3 million (combining current and long-term portions), significantly increasing leverage while cash reserves declined from $10.3 million to $6.9 million. This financial restructuring limits near-term flexibility but funds the strategic acquisition.

The $102.2 million backlog provides tangible evidence of future revenue potential, representing a 31% increase from Q3's $78.0 million. However, the delays in order fulfillment raise questions about conversion timelines. Particularly concerning is the 47.2% decline in medical battery sales, traditionally a higher-margin product line.

While management expresses confidence in post-integration benefits, the financial results show immediate dilution with EPS declining from $0.17 to $0.01 quarterly and from $0.44 to $0.38 annually. The integration's success and timeline for realizing manufacturing efficiencies will determine whether this acquisition ultimately enhances or diminishes shareholder value.

The Electrochem acquisition represents a strategic vertical integration play that should strengthen Ultralife's manufacturing capabilities but comes with significant short-term execution challenges. The company has already begun implementing its "integration playbook," indicating a structured approach to combining operations.

Key operational metrics suggest transition inefficiencies, with gross margins declining from 25.6% to 24.2% despite the addition of Electrochem's product lines. The Battery & Energy Products segment's margin compression (from 25.2% to 23.4%) points to lower factory absorption and suboptimal product mix during this transition period.

The nearly doubling of Property, Plant and Equipment (from $21.1 million to $40.5 million) indicates substantial manufacturing asset acquisition, requiring efficient utilization to justify the investment. Management specifically mentions anticipated "manufacturing cost efficiencies and U.S.-based vertical integration savings," suggesting opportunities in supply chain consolidation, shared overhead, and process standardization.

Inventory levels increased by 21.7% to $51.4 million, which presents both a risk of obsolescence and an opportunity to rationalize component commonality across product lines. The 48.1% growth in government/defense sales demonstrates strength in a segment where manufacturing certifications and quality standards are particularly stringent, potentially indicating operational robustness despite integration challenges.

The success of this acquisition hinges on how effectively management can harmonize manufacturing processes, eliminate redundancies, and leverage increased scale while maintaining product quality during this transitional period.

Acquisition of Electrochem Completed and Integration Has Commenced                

NEWARK, N.Y., April 01, 2025 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ:   ULBI) reported operating results for the fourth quarter and full year ended December 31, 2024 as follows:

Fourth Quarter:

  • Sales of $43.9 million compared to $44.5 million for the 2023 fourth quarter, including a 11.7% increase in Battery & Energy Products sales and a 55.1% decrease in Communications Systems sales
  • Gross profit of $10.6 million, or 24.2% of revenue, compared to $11.4 million, or 25.6% of revenue, for the 2023 fourth quarter
  • Operating income of $1.5 million, including one-time costs and GAAP adjustments of $1.1 million directly related to the acquisition of Electrochem Solutions, Inc. (“Electrochem”) on October 31, 2024, compared to $3.6 million for the 2023 fourth quarter
  • GAAP EPS of $0.01 compared to $0.17 for the 2023 fourth quarter
  • Adjusted EBITDA of $3.9 compared to $4.8 million for the 2023 fourth quarter
  • Backlog and high confidence orders of $102.2 million exiting 2024 compared to $78.0 exiting the third quarter

Fiscal Year 2024:

  • Sales of $164.5 million represent a 3.7% year-over-year increase; essentially flat with 2023 when excluding Electrochem
  • Operating income of $10.0 million including one-time costs and GAAP adjustments of $1.4 million directly related to the acquisition of Electrochem on October 31, 2024, versus $9.5 million for 2023
  • GAAP EPS of $0.38 compared to $0.44 for 2023 which included approximately $0.08 for recognition of the ERC filed under the Coronavirus Aid, Relief and Economic Act
  • Adjusted EBITDA of $16.5 million compared to $15.7 million for 2023

“For the fourth quarter the contribution of Electrochem compensated for delays in the timing of expected larger orders for our Communications Systems segment and customer requests to push orders into 2025 for our Battery & Energy Products segment. These fulfillment delays illustrate how fluctuations in order timing can impact our financial results on a short-term basis even as demand for our products remains strong. In addition, after acquiring Electrochem on October 31st, we began implementing our integration playbook commencing the necessary groundwork to realize the benefits of our investment,” said Mike Manna, President and Chief Executive Officer. 

“We entered 2025 with a healthy backlog and a schedule of new products to launch representing a broadened opportunity set in high-growth markets that position us to more fully realize the operating leverage of our business model through scale, and a strengthened sales and marketing leadership team to expedite organic growth and further leverage our global brand and resources.   We are also on track to complete the acquisition integration and realize resulting manufacturing cost efficiencies and U.S.-based vertical integration savings. As a result, we are confident in our ability to deliver profitable growth and incremental cash flow enabling us to reduce debt and support strategic capital expenditures,” concluded Mr. Manna.

Fourth Quarter 2024 Financial Results

Revenue was $43.9 million, including $6.1 million relating to our acquisition of Electrochem, compared to revenue of $44.5 million for the fourth quarter of 2023. Battery & Energy Products sales increased 11.7% to $39.9 million compared to $35.7 million last year reflecting the inclusion of Electrochem. Organic sales for this segment declined 5.3% as a 48.1% increase in government/defenses sales and a 1.6% increase in oil & gas market sales were offset by a 47.2% decrease in medical battery sales and a 4.4% decline in other industrial market sales.   Communications Systems sales decreased by 55.1% to $4.0 million compared to $8.8 million for the same period last year, primarily attributable to shipments in the prior year of vehicle-amplifier adaptors to a global defense contractor for the U.S. Army and of integrated systems of amplifiers and radio vehicle mounts to a major international defense contractor. Our total backlog and high confidence orders exiting the fourth quarter was $102.2 million compared to $78.0 million reported for the third quarter.

Gross profit was $10.6 million, or 24.2% of revenue, compared to $11.4 million, or 25.6% of revenue, for the same quarter a year ago. Battery & Energy Products gross margin was 23.4%, compared to 25.2% last year, primarily due to product mix and lower factory cost absorption. Communications Systems gross margin was 31.9% compared to 27.2% last year, primarily due to product mix and price realization despite lower factory volume.

Operating expenses were $9.1 million, compared to $7.8 million for the 2023 fourth quarter, reflecting $1.8 million for the inclusion of Electrochem and the one-time costs associated with the acquisition. Operating expenses were 20.8% of revenue compared to 17.4% of revenue for the year-earlier period.

Operating income was $1.5 million compared to $3.6 million last year. Driven by the 55.1% decline in Communications Systems sales and one-time acquisition costs, operating margin decreased to 3.4% compared to 8.2% last year.

Net income attributable to Ultralife Corporation was $0.2 million or $0.01 per diluted share on a GAAP basis, compared to $2.9 million or $0.17 per diluted share for the fourth quarter of 2023. Adjusted EPS was also $0.01 on a diluted basis for the fourth quarter of 2024, compared to $0.18 for the 2023 period. Adjusted EPS excludes the provision for deferred taxes which primarily represents non-cash charges for U.S. taxes which we expect will be fully offset by net operating loss carryforwards and other tax credits for the foreseeable future.

Adjusted EBITDA, defined as EBITDA including non-cash, stock-based compensation expense and one-time acquisition costs and non-cash purchase accounting adjustments, was $3.9 million for the fourth quarter of 2024, or 8.9% of sales, compared to $4.8 million, or 10.7% of sales, for the year-earlier period.

See the “Non-GAAP Financial Measures” section of this release for a reconciliation of adjusted EPS to EPS and adjusted EBITDA to net income attributable to Ultralife Corporation.

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.

Conference Call Information

Ultralife will hold its fourth quarter earnings conference call on today at 8:30 AM ET.

To ensure a fast and reliable connection to our investor conference call, we require participants dialing in by phone to pre-register using this link prior to the call: https://register-conf.media-server.com/register/BI1a1f31c093654241b376ab0dfc2c088b. This will eliminate the need to speak with an operator. Once registered, dial-in information will be provided along with a personal identification number. Should you register early and misplace your details, you can simply click back on this same link at any time to register and view this information again. A live webcast of the conference call will be available to investors in the Events & Presentations Section of the Company’s website at http://investor.ultralifecorporation.com. For those who cannot listen to the live broadcast, a replay of the webcast will be available shortly after the call at the same location.

This press release may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. The potential risks and uncertainties that could cause actual results to differ materially include uncertain global economic conditions, reductions in revenues from key customers, delays or reductions in U.S. and foreign military spending, acceptance of our new products on a global basis, and disruptions or delays in our supply of raw materials and components due to business conditions, global conflicts, weather or other factors not under our control. The Company cautions investors not to place undue reliance on forward-looking statements, which reflect the Company's analysis only as of today's date. The Company undertakes no obligation to publicly update forward-looking statements to reflect subsequent events or circumstances. Further information on these factors and other factors that could affect Ultralife’s financial results is included in Ultralife’s Securities and Exchange Commission (SEC) filings, including the latest Annual Report on Form 10-K.


ULTRALIFE CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

(Dollars in Thousands)
(Unaudited)
    
ASSETS
     
                                                                December 31,
2024
 December 31,
2023
 
Current Assets:    
Cash$6,854  $10,278  
Trade Accounts Receivable, Net 29,370   31,761  
Inventories, Net 51,363   42,215  
Prepaid Expenses and Other Current Assets 9,573   5,949  
Total Current Assets 97,160   90,203  
     
Property, Plant and Equipment, Net 40,485   21,117  
Goodwill 45,006             37,571  
Other Intangible Assets, Net 24,557   15,107  
Deferred Income Taxes, Net 8,413   10,567  
Other Non-Current Assets 4,830   3,711  
Total Assets$220,451  $178,276  
      

LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities:   
Accounts Payable$14,160  $11,336  
Current Portion of Long-Term Debt 2,750   2,000  
Accrued Compensation and Related Benefits 2,911   3,115  
Accrued Expenses and Other Current Liabilities 9,470   7,279  
Total Current Liabilities 29,291   23,730  
Long-Term Debt, Net 51,502   23,624  
Deferred Income Taxes 1,443   1,714  
Other Non-Current Liabilities 4,028   3,781  
Total Liabilities 86,264   52,849  
     
Shareholders' Equity:    
Common Stock 2,107   2,078  
Capital in Excess of Par Value 191,828   189,160  
Accumulated Deficit (34,442)  (40,754) 
Accumulated Other Comprehensive Loss (4,006)  (3,660) 
Treasury Stock (21,492)  (21,492) 
Total Ultralife Corporation Equity 133,995   125,332  
Non-Controlling Interest 192   95  
Total Shareholders’ Equity 134,187   125,427  
     
Total Liabilities and Shareholders' Equity$220,451  $178,276  
 

                                                                        

ULTRALIFE CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In Thousands Except Per Share Amounts)
(Unaudited)
        
 Three-Month Period Ended Year Ended
 December 31, December 31, December 31, December 31,
  2024  2023   2024  2023 
Revenues:       
Battery & Energy Products$39,880 $35,703  $144,081 $129,953 
Communications Systems 3,972  8,845   20,375  28,691 
Total Revenues 43,852  44,548   164,456  158,644 
        
Cost of Products Sold:       
Battery & Energy Products 30,549  26,711   107,764
  99,178 
Communications Systems 2,704  6,435   14,378  20,266 
Total Cost of Products Sold 33,253  33,146   122,142  119,444 
        
Gross Profit 10,599  11,402   42,314  39,200 
        
Operating Expenses:       
Research and Development 2,415  1,852   8,268  7,531 
Selling, General and Administrative 6,710
  5,901   24,081  22,194 
Total Operating Expenses 9,125  7,753   32,349  29,725 
        
Operating Income 1,474  3,649   9,965  9,475 
        
Other Expense 979  536   1,664  358 
Income Before Income Taxes 495  3,113   8,301  9,117 
        
Income Tax Provision 262  263   1,892  1,951 
        
Net Income 233  2,850   6,409  7,166 
        
Net Income (Loss) Attributable to Non-Controlling Interest 39  (23)  97  (31)
        
Net Income Attributable to Ultralife Corporation$
194
 $2,873  $6,312 $7,197 
        
        
Net Income Per Share Attributable to Ultralife
Common Shareholders – Basic
$.01 $.18  $.38 $.44 
        
Net Income Per Share Attributable to Ultralife
Common Shareholders – Diluted
$.01 $.17  $.38 $.44 
        
Weighted Average Shares Outstanding – Basic 16,629  16,338   16,555  16,214 
        
Weighted Average Shares Outstanding – Diluted 16,762  16,479   16,767  16,226 
 

Non-GAAP Financial Measures

Adjusted EBITDA

In evaluating our business, we consider and use adjusted EBITDA, a non-GAAP financial measure, as a supplemental measure of our operating performance in addition to U.S. Generally Accepted Accounting Principles (“GAAP”) financial measures. We define adjusted EBITDA as net income attributable to Ultralife Corporation before net interest expense, provision for income taxes, depreciation and amortization, and stock-based compensation expense, plus/minus expense/income that we do not consider reflective of our ongoing continuing operations. We reconcile adjusted EBITDA to net income attributable to Ultralife Corporation, the most comparable financial measure under GAAP. Neither current nor potential investors in our securities should rely on adjusted EBITDA as a substitute for any GAAP measures and we encourage investors to review the following reconciliation of adjusted EBITDA to net income attributable to Ultralife Corporation.

ULTRALIFE CORPORATION AND SUBSIDIARIES
CALCULATION OF ADJUSTED EBITDA
(Dollars in Thousands)
(Unaudited)
 
 Three-Month Period Ended Year Ended
 December 31,
2024
 December 31,
2023
 December 31,
2024
 December 31,
2023
        
Net Income Attributable to Ultralife Corporation$194 $2,873 $6,312 $7,197
Adjustments:       
Interest Expense, Net 829  566  1,940  2,016
Income Tax Provision 262  263  1,892  1,951
Depreciation Expense 831  740  3,125  3,022
Amortization Expense 348  226  1,032  889
Stock-Based Compensation Expense 208  104  698  528
Cyber-Insurance Policy Deductible -  -  -  100
Non-Recurring Acquisition Costs 1,111  -  1,361  -
Non-Cash Purchase Accounting Adjustment 120  -  120  -
Adjusted EBITDA$3,903 $4,772 $16,480 $15,703
 

Adjusted Earnings Per Share

In evaluating our business, we consider and use adjusted EPS, a non-GAAP financial measure, as a supplemental measure of our business performance. We define adjusted EPS as net income attributable to Ultralife Corporation excluding the provision (benefit) for deferred income taxes divided by our weighted average shares outstanding on both a basic and diluted basis. We believe that this information is useful in providing period-to-period comparisons of our results by reflecting the portion of our tax provision that we expect will be predominantly offset by our U.S. net operating loss carryforwards and other tax credits for the foreseeable future. We reconcile adjusted EPS to EPS, the most comparable financial measure under GAAP. Neither current nor potential investors in our securities should rely on adjusted EPS as a substitute for any GAAP measures and we encourage investors to review the following reconciliation of adjusted EPS to EPS and net income attributable to Ultralife Corporation.

ULTRALIFE CORPORATION AND SUBSIDIARIES
CALCULATION OF ADJUSTED EPS
(In Thousands Except Per Share Amounts)
(Unaudited)
 
 Three-Month Period Ended
 December 31, 2024 December 31, 2023
 Amount  Per
Basic Share
  Per
Diluted Share
 Amount  Per
Basic Share
  Per
Diluted Share
Net Income Attributable to Ultralife Corporation$194  $ .01 $   .01 $2,873 $   .18 $    .17
Deferred Tax Provision (Benefit) (63)  -  -  56  -  .01
Adjusted Net Income$131  $.01 $  .01 $2,929 $   .18 $     .18
                
Weighted Average Shares Outstanding   16,629  16,762    16,338  16,479
                


 Year Ended
 December 31, 2024 December 31, 2023
 Amount  Per
Basic Share
  Per
Diluted Share
 Amount  Per
Basic Share
  Per
Diluted Share
Net Income Attributable to Ultralife Corporation$6,312 $.38 $.38 $7,197 $.44 $.44
Deferred Tax Provision 1,232  .08  .07  1,301  .08  .08
Adjusted Net Income$7,544 $.46 $.45 $8,498 $.52 $.52
                
Weighted Average Shares Outstanding   16,555  16,767    16,214  16,226
                


Company Contact:   Investor Relations Contact:
Ultralife Corporation  Alliance Advisors IR
Philip A. Fain   Jody Burfening/Alex Villalta
(315) 210-6110  (212) 838-3777
pfain@ulbi.com    avillalta@allianceadvisors.com 

FAQ

What were Ultralife 's (ULBI) Q4 2024 earnings per share?

ULBI reported Q4 2024 GAAP EPS of $0.01, compared to $0.17 in Q4 2023.

How much revenue did ULBI's Battery & Energy Products segment generate in Q4 2024?

Battery & Energy Products sales were $39.9 million in Q4 2024, an 11.7% increase from Q4 2023.

What is ULBI's current backlog value after Q4 2024?

ULBI's backlog and high confidence orders were $102.2 million at the end of Q4 2024, up from $78.0 million in Q3.

How did the Electrochem acquisition impact ULBI's Q4 2024 results?

Electrochem contributed $6.1 million in revenue and incurred $1.1 million in one-time costs and GAAP adjustments related to the acquisition.
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