Ultralife Q3 rev up 53% to $33.2M; net loss narrows to $0.2M but gross margin slides

ULTRALIFE CORP

2022-Q3 EPS reported $0.02 revenue$95,733,000

Revenue $33.2M, up 53% YoY; net loss $0.2M ($0.01/share) vs loss $0.6M ($0.04) in Q3 2021.
Government/defense sales doubled YoY; backlog reached $106.2M, up 153% from prior year.
Gross margin fell to 20.2% from 23.5%, pressured by supply chain disruptions and cost inflation.
Battery & Energy Products revenue $28.6M (+43%); organic growth 8.5% after excluding Excell contribution.
Operating loss improved to $0.6M; adjusted EBITDA $1.3M (3.8% of sales) vs $0.3M (1.3%) a year ago.

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