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Sep 30, 2023
Ultralife Q3 2023 Earnings Report
Ultralife Corporation reported an increase in sales and operating income, driven by strong demand from government/defense and medical customers.
Key Takeaways
Ultralife Corporation reported strong Q3 2023 results, with sales up 18.8% year-over-year to $39.5 million. Operating income significantly improved to $2.1 million from a loss of $0.6 million in the same quarter last year. Adjusted EPS was $0.10 compared to a loss of $0.03 in Q3 2022. The company's backlog remains strong at $101.1 million.
Sales increased by 18.8% year-over-year to $39.5 million.
Operating income improved to $2.1 million, compared to a loss of $0.6 million in the prior year.
Adjusted EPS was $0.10, up from a loss of $0.03 in the same period last year.
Backlog remains strong at $101.1 million exiting the quarter.
Ultralife
Ultralife
Ultralife Revenue by Segment
Revenue by Segment
Communications Systems Revenue
CapyFin.com Forward Guidance
Ultralife is well positioned to continue profitable growth and generate incremental cashflow to reduce acquisition debt and further invest in its businesses.
Positive Outlook
- Strong backlog to close out 2023.
- Profitable growth expected to continue.
- Incremental cashflow generation.
- Opportunity to reduce acquisition debt.
- Further investment in businesses, including new product development.
Challenges Ahead
- Potential impact of COVID-19 and related supply chain disruptions.
- Potential reductions in revenues from key customers.
- Acceptance of new products on a global basis.
- Uncertain global economic conditions.
- Component delays from suppliers caused inefficiencies.