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Stock impact report

Ultralife Corporation Reports Third Quarter Results

Ultralife Corporation (ULBI) 
Company Research Source: GlobeNewswire
NEWARK, N.Y., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) reported operating results for the third quarter ended September 30, 2024 as follows: Sales of $35.7 million compared to $39.5 million for the 2023 third quarter, including 1.9% growth in Battery & Energy Products sales and a 58.2% decrease in Communications Systems salesGross profit of $8.7 million, or 24.3% of revenue, compared to $9.8 million, or 24.8% of revenue, for the 2023 third quarterOperating income of $0.5 million, including legal fees and other costs of $0.3 million directly related to the acquisition of Electrochem Solution, Inc., compared to $2.1 for the 2023 third quarterGAAP EPS of $0.02 compared to $0.08 for the 2023 third quarterDebt reduction of $4.1 million, or 33.4%, to $8.0 million from $12.1 million at the end of the second quarter, and representing a $17.2 million, or 68.2%, reduction over the last two quarters “Ultralife’s third quarter results were weighed down by the tim Show less Read more
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