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Ultralife Batteries reports third quarter results 17-11-06

Ultralife Batteries reported an operating loss of $2.1 million on revenues of $23.7 million for the third quarter ended September 30, 2006. In comparison, the company reported an operating loss of $1.5 million on revenues of $15.7 million for the same period last year. Third quarter revenue growth reflects increases in 9-volt sales and higher commercial business, particularly from the automotive telematics market, as well as the addition of McDowell Research and ABLE New Energy, which were acquired on July 3 and May 19, respectively, of this year. Net loss for the third quarter of 2006 was $1.7 million, compared to a net loss of $1.3 million for the third quarter of 2005. For the nine-month period ended September 30, 2006, revenues totaled $63.4 million compared to $52.7 million for the same period last year. Net loss for the first three quarters of 2006 was $1.4 million, compared to a net loss for the same period last year of $4.3 million.

 
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