Ultralife Corporation Higher on Q2 Results

(24/7 MARKET NEWS) – Ultralife Corporation (NASDAQ:ULBI) reported, this morning, its second quarter operating results, which included the following highlights.

•             Sales of $42.7 million representing a 32.9% year-over-year increase

•             Operating income of $3.7 million compared to $0.8 million for the 2022 second quarter

•             Adjusted EPS of $0.29 compared to $0.03 for the 2022 second quarter

•             Adjusted EBITDA of $6.3 million or 14.7% of sales versus $2.2 million or 6.8% last year

•             Backlog increase to $110.9 million, the highest level in the Company’s history

Ultralife AI is trading at $5.58, up $0.65 (+13.18%), on 957 premarket shares traded.

Its 52-week range is $3.67 to $5.77. This is gapping up and should easily hit new 52-week highs and may try to challenge its October or September 2021 trading levels.

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