This Week
  • North American Breweries CEO sees plenty of potential to grow again.

  • Employers honored as best workplaces find surveys of employee offer valuable insight.

  • Elizabeth Schirmer Shores uses travelers as vehicles for technology in remote locales.

  • Revenues, employment and business prospects all are growing for Vanteon Corp.

  • EO Landon Mertz has big plans for nanotechnology firm Cerion Technology.

  • The 2015 edition features an exclusive interview with Paychex CEO Martin Mucci.

Ultralife reports operating loss in Q1 as sales fall

Rochester Business Journal
May 1, 2014

Ultralife Corp. reported Thursday a drop in first-quarter sales and an operating loss due in part to sluggish sales in its communications systems business.

The Newark, Wayne County, firm reported a net loss from continuing operations of $1.2 million, or 7 cents a share, compared with net income of $164,000, or a penny a share, last year.

The company reported a net loss from discontinued operations of $61,000, compared with  net income of $264,000 a year ago.
 
Ultralife logged sales of $15.3 million, down 27 percent from sales of $21 million.
 
Michael Popielec, president and CEO, said the firm’s battery and energy products segment posted a 7 percent increase in sales. The communications systems busienss started slowly because of fluctuating timing of orders. The segment’s sales fell 83 percent during the quarter.

The company ended the quarter with $18.9 million in cash and no debt, he said.

For 2014, management expects mid-single-digit organic revenue growth, despite continued constraints on global government spending.

Ultralife ranked 25th on the most recent Rochester Business Journal list of manufacturers with 180 local workers.

Shares of Ultralife stock (NasdaqGM: ULBI) climbed Thursday, trading midday at $3.75 a share, up more than 4 percent.

(c) 2014 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