Ultralife Q2 2022 Earnings Report
Key Takeaways
Ultralife Corporation reported a 20% year-over-year sales increase driven by the Excell acquisition and strong shipments to core commercial end-markets. The company returned to total profitability despite persistent supply chain constraints and inflationary cost pressures.
Revenue increased by 20.0% compared to the second quarter of 2021, reaching $32.1 million.
Battery & Energy Products sales increased by 31.8%, driven by the Excell acquisition and growth in medical, industrial, and oil & gas markets.
Communications Systems sales decreased by 49.0% due to supply chain disruptions.
Net income was $0.5 million, or $0.03 per diluted share, compared to $0.8 million, or $0.05 per diluted share, for the second quarter of 2021.
Ultralife
Ultralife
Ultralife Revenue by Segment
Forward Guidance
The company anticipates continuing to battle supply chain challenges and inflationary cost pressures in the second half of the year, while remaining committed to advancing new product development initiatives and generating profitable growth.
Positive Outlook
- Advancing new product development initiatives
- Transitioning new products to production
- Generating profitable growth for the year
Challenges Ahead
- Persistent supply chain constraints delaying shipments against government/defense orders
- Inflationary cost pressures
- Manufacturing inefficiencies associated with supply chain disruptions
- Pressured gross margins
Revenue & Expenses
Visualization of income flow from segment revenue to net income