* Receives orders from a U.S. defense contractor
* Shares jump as much as 19 pct
May 14 Ultralife Corp (ULBI.O), which sells
batteries and communication products, said it received orders
worth about $21 million from a U.S. defense contractor for its
satellite communications systems, sending its shares up as much
as 19 percent.
The SATCOM-On-The-Move systems will be used in MRAP (Mine
Resistant Ambush Protected) armored vehicles.
Deliveries, which are expected to begin this quarter,
should be completed in the fourth quarter of 2010, the company
Ultralife said the orders were not contemplated in its base
line revenue plan for 2010 and it will provide an update on its
2010 operating profit and adjusted EBITDA outlook in its
second-quarter earnings call.
In February, the company had forecast 2010 revenue of $177
Ultralife Corp, which began as a battery company, has three
business segments - battery and energy products, communications
systems and energy services.
Shares of the company were up 15 percent at $4.85 Friday
morning on Nasdaq. They touched a high of $5.03 earlier in the
(Reporting by Fareha Khan in Bangalore; Editing by Ratul Ray