This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Ultralife Corporation Receives $2.5M Order For Land Warrior Batteries And Chargers

Ultralife Corporation (NASDAQ: ULBI) has received an order valued at approximately $2.5 million for its Land Warrior batteries and chargers from the U.S. Defense Department. The contract is for lithium ion rechargeable batteries as well as vehicle, bulk and individual soldier-based chargers. Deliveries are expected to begin this quarter and be completed by the third quarter of 2010.

The Land Warrior product suite was originally developed as a man-portable power system to support an integrated, modular fighting system that uses technology to enhance individual soldier’s close combat tactical awareness, lethality and survivability. It is part of the company’s SmartCircuit® family of products delivering power solutions to customers who require advanced functionality and performance.

“As expected, the U.S. military has rolled out the Land Warrior program again this year. This order reinforces how important system solutions are becoming not only to the defense market, but to all our markets,” said John D. Kavazanjian, president and chief executive officer. “With our ability to provide power, charging, cabling – all tied together with smart circuitry, we are well positioned to capitalize on our industry leading expertise in providing unique total power solutions.”

Indefinite Quantity Contract Valued at up to $26.9 Million

Separately, Ultralife announced that it has been awarded an indefinite quantity contract (IDIQ) by the U.S. Defense Logistics Agency with a total value of up to $26.9 million over five years. The contract calls for a one year base and four option years to meet demand from the U.S. military for three battery types. The batteries are used in applications such as night vision goggles, SINCGARS radios and thermal weapons sights, among others.

DLA will release orders under the IDIQ to fulfill demand as necessary. The government has estimated the base year value of orders at $5.3 million. Ultralife cautions investors that it has not received an order at this time and future orders are difficult to predict. As a result, management has not contemplated any revenue associated with orders under the IDIQ in its 2010 base line revenue plan.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs