UPDATE 1-Ultralife to take Q4 charge, cuts FY rev outlook

Wed Dec 29, 2010 7:57am EST

* Charge related to standby power business

* Reduces FY rev view to $177 mln

Dec 29 (Reuters) - Ultralife Corp (ULBI.O) said it will record a fourth-quarter non-cash impairment charge of about $14 million, or 81 cents a share, as it writes off goodwill and intangible and fixed assets associated with its standby power business.

Newark, New York-based Ultralife, which sells batteries and communication products, also reduced its full-year revenue outlook to $177 million from its prior view of $177 million-$182 million.

Ultralife shares, which gained 62 percent in value in the last three months, closed at $7.07 on Tuesday on Nasdaq. (Reporting by Bijoy Koyitty in Bangalore; Editing by Joyjeet Das)

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