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Sep 30, 2020
Ultralife Q3 2020 Earnings Report
Reported operating income of $0.7 million on revenue of $24.4 million.
Key Takeaways
Ultralife Corporation reported a decrease in revenue and operating income for Q3 2020 compared to Q3 2019, with revenue at $24.4 million and operating income at $0.7 million. The company sustained profitability and positive cash flows through end-market diversification and operating discipline, offsetting economic weakness in the oil and gas sector and lower Communications Systems sales with strong medical and government/defense sales.
Revenue decreased by 11.4% to $24.4 million compared to Q3 2019.
Operating income was $0.7 million, down from $1.3 million in the same quarter last year.
Medical battery sales increased by 102.1% and government/defense sales increased by 23.4%, offsetting declines in other sectors.
Debt was reduced by $7.1 million and cash on hand increased by $5.4 million.
Revenue by Segment
Forward Guidance
The company is committed to completing strategic growth projects and is well positioned to withstand current economic headwinds due to a solid balance sheet and resilient business model.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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