While the economy at large has been in a form of free-fall over the last 45 days amid the Coronavirus Pandemic, one local company has been performing well.
Ultralife Corp. reported $1.5 million in operating income on revenue of $25.8 million from the first quarter.
Michael Popielec, President and CEO of Ultralife said the outcome even included a month-long shutdown for a supplier in China, and a variety of other supply chain challenges caused by the pandemic.
“As an essential supplier, while ensuring the health and safety of our employees by implementing the protocols established by state and federal public health officials, we are striving to ensure an uninterrupted flow of our mission-critical products serving medical device, first responder, public safety, energy and national security customers,” Popielec said. “We are also investing approximately $1 million in the second quarter for additional test equipment to meet the increased demand for our power supplies for ventilators, respirators and infusion pumps.”