Ultralife Turns To Profit In Q2 On Strong Revenue Growth - Quick Facts

(RTTNews) - Ultralife Corp. (ULBI) reported second-quarter net income attributable to the company of $0.79 million or $0.05 per share, compared to net loss of $1.36 million or $0.08 per share in the year-ago period.

Net income from continuing operations for the quarter was $0.77 million or $0.05 per share, compared to net loss of $1.38 million or $0.08 per share in the prior-year quarter.

Revenue for the quarter grew 25 percent to $18.96 million from $15.20 million in the same period last year. The increase in revenues were driven by gains in Battery & Energy Product sales.

Michael Popielec, Ultralife's President and Chief Executive Officer said, "At the mid-point of the year with revenue growth of 25% and EPS improvement of $0.23 over the first half of 2014, we have increasing confidence in our outlook for top-line growth and profitable results for 2015."