Ultralife files audited Excell financials: $18.5M sales, $1.5M net income for Feb-Dec 2021 stub

ULTRALIFE CORP

Sales $18.46M, gross profit $4.32M (23.4% margin), net income $1.49M for period Feb 1-Dec 12, 2021.
Total assets $9.0M, equity $6.45M; cash $736K, accounts receivable $3.57M, inventory $3.44M.
Auditor MNP LLP issued qualified opinion unable to audit opening inventory affecting cost of sales.
Company paid $4.78M dividends and repaid $729K shareholder advances during stub period.
Acquisition closed Dec 13, 2021; financials now filed via Form 8-K/A.

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