Key Developments For Ultralife Corporation
Ultralife Corporation (ULBI.O) (Consolidated Issue listed on NASDAQ Global Market)
Ultralife Corp. Announces Resignation of John C. Casper As Chief Financial Officer; Names Philip A. Fain As Interim Chief Financial Officer
Ultralife Corp. announced that John C. Casper has resigned his position as Vice President of Finance and Chief Financial Officer effective November 9, to pursue other opportunities. The Board of Directors has named Philip A. Fain, Ultralife's Vice President of business development, to serve as Chief Financial Officer on an interim basis while it conducts a search for a new Vice President of Finance and Chief Financial Officer.
Ultralife Corp. Comments On Q4, FY 2009 Earnings Guidance; Revises FY 2009 Revenue Guidance Below Analysts' Estimates
Ultralife Corp. announced that for the fourth quarter of 2009, it expects to be profitable. For fiscal 2009, it has revised its fiscal 2009 guidance and expects revenue of approximately $175 million and operating loss of between $8.0 and $9.0 million. According to Reuters Estimates, analysts are expecting the Company to report net profit of $1.15 million for the fourth quarter of 2009; EBIT of $9.93) million on revenue of $185 million for fiscal 2009.
Ultralife Corp. Receives $20 Million SATCOM-On-The-Move System Order
Ultralife Corp. announced that it has received an order valued at approximately $20 million for its SATCOM-On-The-Move systems from a U.S. defense contractor under its Indefinite Delivery/Indefinite Quantity (IDIQ) contract for use in a variety of military vehicles unrelated to the MRAP All Terrain Vehicle (M-ATV) program. The Company received an additional order valued at approximately $2 million for its SATCOM-On-The-Move systems directly from the U.S. Navy`s Space and Naval Warfare Systems Command (SPAWAR), which was shipped in the third quarter. Deliveries against the $20 million IDIQ order are expected to begin this quarter and be completed in the first quarter of 2010.
Ultralife Corp. Receives $12 Million In Orders Against Multi Year Contract Award From General Dynamics United Kingdom Ltd
Ultralife Corp. announced that it has been awarded a multi year contract for advanced lithium ion battery and charging systems by General Dynamics United Kingdom Limited (General Dynamics UK) for use by the British Armed Forces. General Dynamics UK has awarded the Company initial orders valued at approximately $12 million. As anticipated, deliveries against these orders are expected to begin in the fourth quarter of 2009 and be completed in the third quarter of 2010.
Ultralife Corp. Revises FY 2009 Revenue Guidance; Issues H2 2009 Guidance; EBIT Guidance Below Analysts' Estimates
Ultralife Corp. announced that as result of the delays in receiving government/defense orders, management has revised its outlook for fiscal 2009 revenue and now expects revenue between $180 million and $210 million. Based on an estimate of revenue for the second half of 2009 between $100 million and $130 million, management expects operating profit (EBIT) for the second half of the year to range between $1 million and $10 million. According to Reuters Estimates, analysts are expecting the Company to report revenues of $217 million for fiscal 2009; EBIT of $5.3 million on revenues of $59 million for the third quarter 2009; EBIT of $6.6 million on revenues of $68 million for the fourth quarter of 2009.
