Ultralife reports Q1 net loss of $0.2M on revenue $30.4M; backlog grows to $91.9M

ULTRALIFE CORP

2022-Q1 EPS reported -$1.00 revenue$30,373,000

Revenue $30.4M (+16.9% YoY); net loss $0.2M ($0.01 diluted) vs net income $0.7M ($0.04) in Q1 2021.
Battery & Energy Products sales up 31.8% to $29.2M, including $6.4M from Excell acquisition.
Communications Systems sales down 68.3% to $1.2M due to supply chain disruptions delaying shipments.
Gross margin fell to 22.9% from 26.9% on input cost inflation and higher logistics costs.
Backlog reached $91.9M; $73.8M expected to ship in 2022, up 26% from prior quarter.

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