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Dec 31, 2020
Ultralife Q4 2020 Earnings Report
Ultralife reported fourth quarter results, with revenue decreasing due to the negative economic impact of the global pandemic, offset by growth in medical and government/defense sales.
Key Takeaways
Ultralife Corporation reported a decrease in revenue for the fourth quarter, primarily due to the negative economic impact of the global pandemic. However, the company saw growth in medical and government/defense sales, which partially offset the decline. The company's operating results were in line with internal expectations.
GAAP EPS was $0.13, and Adjusted EPS was $0.17.
Revenue was $29.0 million, a decrease of 6.6% compared to the same quarter last year.
Battery & Energy Products medical sales were up 94% and government/defense sales were up 19%.
The company recognized a $1.6 million gain upon resolution of a claim in a class action lawsuit.
Revenue by Segment
Forward Guidance
While the outlook for demand in our end markets is less visible than we would like, we will remain focused on what we can control: organic growth initiatives, including completing transformational new product development projects and investments in strategic capital expenditure, and synergistic acquisitions.
Positive Outlook
- Focus on organic growth initiatives
- Completing transformational new product development projects
- Investments in strategic capital expenditure
- Synergistic acquisitions
Challenges Ahead
- The outlook for demand in our end markets is less visible than we would like
Historical Earnings Impact
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Avg. Return Before/After Earnings
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