Ultralife Q1 2021 Earnings Report
Key Takeaways
Ultralife Corporation reported a slight increase in revenue for Q1 2021, with operating income decreasing compared to the same period last year. The revenue increase was primarily driven by growth in the Battery & Energy Products segment, particularly in medical and government/defense sales, while profitability was affected by start-up costs for new product transitions and investments in engineering and sales resources.
Revenue increased by 0.6% to $26.0 million compared to $25.8 million in Q1 2020.
Battery & Energy Products revenue increased by 6.5%, driven by medical device and government/defense sales.
Communications Systems sales decreased by 23.6% due to completion of vehicle amplifier-adaptor systems orders.
Operating income decreased to $1.0 million from $1.5 million in the previous year.
Ultralife
Ultralife
Ultralife Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income