UPDATE 1-Ultralife Q4 profit beats Street view

Thu Feb 18, 2010 9:24am EST

* Q4 EPS $0.05 vs est $0.02

* Q4 revenue rises 2 pct

* Sees 2010 rev at $177 mln vs est $204.2 mln

Feb 18 (Reuters) - Ultralife Corp (ULBI.O), which sells batteries and other power-related products, posted a higher quarterly profit that beat analysts' estimates, helped in part by cost controls, but forecast a lower-than-expected revenue for 2010.

Ultralife said the timing of orders and shipments may cause some variability in quarterly results for 2010.

For 2010, the company forecast revenue of $177 million, which was below analysts' average estimate of $204.2 million, according to Thomson Reuters I/B/E/S.

For the latest fourth quarter, the company earned $840,000, or 5 cents per share, compared with $177,000, or 1 cent a share, a year ago.

Sales rose 2 percent to $50.4 million.

Analysts on average had expecting earnings of 2 cents per share, before special items, on revenue of $52.8 million.

The company said it cut its operating expenses for the quarter by about 3 percent to $10.3 million.

Shares of the company rose 4 percent before the bell Thursday. They closed at $4.17 Wednesday on the Nasdaq. (Reporting by Fareha Khan in Bangalore; Editing by Gopakumar Warrier)