Ultralife Q2 sales $43.0M (+0.7%); Battery segment record; debt cut 52% to $12.1M

ULTRALIFE CORP

2024-Q2 EPS reported $0.21 revenue$84,910,000

Sales $43.0M vs $42.7M; Battery & Energy Products segment record $36.7M, up 8.3% YoY.
Gross margin improved 210 bps to 26.9%; Battery gross margin up 480 bps to 27.1%.
GAAP EPS $0.18 vs $0.21 (last year included $0.07 ERC); Adjusted EPS $0.22.
Backlog $93.0M; reduced debt by $13.2M (52.2%) to $12.1M.
Received $0.2M preliminary insurance payment for 2023 cyberattack.

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