Ultralife Q3 2024 Earnings Report

Ultralife reported mixed results with a decrease in overall sales offset by growth in the Battery & Energy Products segment and a significant decrease in Communications Systems sales. Gross profit and operating income declined, while the company completed the acquisition of Electrochem.

Key Takeaways

Ultralife Corporation reported a decrease in revenue for the third quarter of 2024, with sales of $35.7 million compared to $39.5 million in the same period last year. The Battery & Energy Products segment saw a slight increase in sales, while the Communications Systems segment experienced a significant decrease. Operating income and net income also declined compared to the previous year.

Sales decreased to $35.7 million from $39.5 million year-over-year.

Battery & Energy Products sales increased by 1.9%, while Communications Systems sales decreased by 58.2%.

Gross profit was $8.7 million, or 24.3% of revenue, compared to $9.8 million, or 24.8% of revenue, in the prior year.

Operating income decreased to $0.5 million from $2.1 million year-over-year, impacted by acquisition-related costs.

Total Revenue

$35.7M

Previous year: $39.5M