This Week
  • ROC the Future gives update on milestones for local education system.

  • CEO David Boyce has Tompkins Insurance Agencies on a growth path.

  • The Greater Rochester Awards honorees are profiled.

  • Aware of challenges, private schools work to build a sustainable future.

  • Mech Tech HVAC CEO Edward Burns expects the firm to log solid growth in 2014.

  • Kelby Russell wants you to know: Local wines are among the world's finest.

Ultralife swings to profit in first quarter

Rochester Business Journal
May 2, 2013

Ultralife Corp. on Thursday reported a first-quarter profit despite a drop in sales.
 
The Newark, Wayne County-firm reported net income from continuing operations of $200,000, or a penny a share, compared with a net loss of $1.4 million, or 8 cents a share, a year ago.

Net income from discontinued operations was $300,000, or 2 cents a share, compared with a net loss of $100,000, or a penny a share, a year ago.

Sales were $21 million, down 24 percent from sales of $27.5 million a year ago. The revenue reflects an increase of $500,000 in its communications system business, offset by a $7 million decrease in battery and energy product sales.

"Through solid execution in the face of ongoing softness in our battery and energy products business, we delivered our third consecutive profitable quarter, consistent with our internal expectations, and reversed last year's operating loss," said Michael Popielec,  president and CEO, in a statement.

Management expects low- to mid-single digit revenue growth this year.

Ultralife employs some 473 local workers.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 

 
 


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google