Ultralife Corporation recently reported its second quarter results, which include a 20% year-over-year sales increase and return to total company profitability.
The company reported an operating income of $800,000 on a revenue of $32.1 million for the second quarter that ended on June 30, 2022.
For the second quarter of 2021, the Company reported operating income of $1.1 million on a revenue of $26.8 million.
“Driven by the Excell acquisition and strong shipments to core commercial end-markets, for the second quarter we delivered a 20% year-over-year sales increase and returned to total Company profitability. Persistent supply chain constraints continued to delay shipments against government/defense orders in both of our business segments, while operationally, we continued to contend with inflationary cost pressures and manufacturing inefficiencies associated with supply chain disruptions, which pressured gross margins,” said Michael D. Popielec, President and Chief Executive Officer.
“While we anticipate continuing to battle these challenges in the second half of the year, we remain steadfast in our commitment to advancing our new product development initiatives, transitioning new products to production, and generating profitable growth for the year.”
Related: Ultralife Corporation to report second quarter results on July 28
About Ultralife Corporation
Ultralife Corporation serves its markets with products and services ranging from power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government, defense and commercial customers across the globe.
Headquartered in Newark, New York, the Company’s business segments include Battery & Energy Products and Communications Systems. Ultralife has operations in North America, Europe and Asia. For more information, visit www.ultralifecorporation.com.
Related: Ultralife Corporation reports first quarter 2021 results
