This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Ultralife Corporation Reports Third Quarter Results

Stocks in this article: ULBI

Ultralife Corporation (NASDAQ: ULBI) reported operating income from continuing operations of $1.6 million on revenue of $36.0 million for the quarter ended October 2, 2011. For the third quarter of 2010, the company reported operating income from continuing operations of $6.1 million on revenue of $50.8 million, which included approximately $20.5 million from sales of SATCOM systems. Excluding sales of SATCOM systems, revenue for the third quarter of 2011 increased by $5.7 million, or 19%.

“Our Battery & Energy Products business posted another quarter of solid results, with revenue up 27% over 2010 on continued strong demand from global defense customers and further penetration of our batteries into the metering business in China,” said Michael D. Popielec, Ultralife’s president and chief executive officer. “During the quarter, we achieved gross margin gains in both our Battery & Energy Products and Communications Systems businesses through continued progress on our Lean implementation and increased focus on high-margin product sales. The improvements in productivity and profitability, and several structural changes made throughout the year, combined with an intensified focus on new product introductions and expanded sales coverage, better position us for consistent and profitable growth as we enter 2012.”

Third Quarter 2011 Financial Results

During the second quarter of 2011, Ultralife completed the exit of the Energy Services business. As a result, the Energy Services segment has been reclassified as a discontinued operation. Revenue, gross margin and operating expense figures presented below represent results from continuing operations.

Revenue decreased by 29% to $36.0 million, compared to $50.8 million for the third quarter of 2010, reflecting the absence of sales of SATCOM systems offset in part by higher Battery & Energy Product sales. Battery & Energy Product sales grew by $6.2 million, or 27%, to $28.8 million due primarily to increased shipments of rechargeable batteries and charger systems. Communications Systems sales declined by $21.0 million, or 75%, to $7.2 million, compared to $28.1 million for last year’s third quarter. Excluding last year’s sales of SATCOM systems, Communications Systems sales decreased by $0.4 million, or 6%, reflecting an increase in sales of amplifiers offset by lower sales of communications accessories.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

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