Ultralife Q2 revenue up 20% to $32.1M; net income falls to $0.5M from $0.8M

ULTRALIFE CORP

2022-Q2 EPS reported $0.02 revenue$62,499,000

Revenue $32.1M (+20% YoY); net income $0.5M ($0.03 diluted EPS) vs $0.8M ($0.05) prior year.
Operating income $0.8M vs $1.1M; gross margin 23.8% vs 27.1% on supply chain disruption and inflation.
Battery & Energy sales +31.8% to $30.1M, boosted by Excell acquisition ($6.6M) and commercial growth; Communications Systems -49% to $2.0M on supply delays.
Adjusted EBITDA flat at $2.2M (6.8% of sales vs 8.2%).
CEO cites supply chain constraints delaying govt/defense shipments; expects continued challenges in H2.

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