Ultralife Corp. unveiled a significant rise in its third-quarter sales, thanks to augmented demand from its government, defense, and medical clientele. The Wayne County-based manufacturer’s recently released data revealed sales figures of $39.5 million for the quarter, marking a nearly 19% increase from the prior year’s $33.2 million.
Highlighting the company’s successful quarter, the operating income landed at $2.1 million, contrasting the loss of $600,000 faced in the third quarter of 2022. The adjusted EPS stood at 10 cents, compared to the previous year’s loss of three cents.
Mike Manna, Ultralife’s president and CEO, accredited the growth to strategies like margin recovery via price realization, lean manufacturing, and nurturing key customer relations using global new product development assets. Manna remained optimistic about the company’s trajectory, stating, “With a solid backlog as 2023 concludes, we’re poised to maintain our growth momentum, mitigate acquisition debts, and pour more into our ventures, particularly new product innovations and strategic acquisitions.”
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