Ultralife Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 07:30 am EDT
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Ultralife Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 39.49 million compared to USD 33.23 million a year ago. Net income was USD 1.33 million compared to net loss of USD 0.239 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to basic loss per share from continuing operations of USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to diluted loss per share from continuing operations of USD 0.01 a year ago.
For the nine months, revenue was USD 114.1 million compared to USD 95.73 million a year ago. Net income was USD 4.32 million compared to USD 0.105 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.27 compared to USD 0.01 a year ago.
Ultralife Corporation offers products and services ranging from power solutions to communications and electronics systems to customers across the globe in the government, defense and commercial sectors. The Company's segments include Battery & Energy Products and Communications Systems. The Battery & Energy Products segment includes Lithium 9-volt, cylindrical, thin cell and other non-rechargeable batteries, in addition to rechargeable batteries, uninterruptable power supplies, charging systems and accessories. The Communications Systems segment includes radio frequency (RF) amplifiers, power supplies, cable and connector assemblies, amplified speakers, equipment mounts, case equipment, man-portable systems, integrated communication systems for fixed or vehicle applications and communications and electronics systems design. Its brands include Ultralife, Ultralife HiRate, Ultralife Thin Cell, Ultralife Batteries Inc., Lithium Power, McDowell Research, ACCUTRONICS and ACCUPRO.