BOSTON (Thomson Financial) - Ultralife Batteries Inc. Thursday said it swung
to fourth-quarter net income of $4.4 million, or 27 cents a share, from a
year-earlier loss of $26 million, or $1.73 a share.
Results for the latest quarter include a $7.6 million non-operating gain
related to a negotiated purchase price settlement.
The mean estimate of three analysts polled by Thomson Financial was for a
loss of 18 cents a share in the fourth quarter.
Revenue for the Newark, N.Y.-based battery manufacture rose 22% to $36.8
million from $30.1 million a year earlier. Analysts, on average, had estimated
revenue of $38.4 million.
Ultralife attributed the increase in revenue to higher sales of
communications systems and the added contribution from its acquisitions.
For the first quarter of 2008, the company forecasts operating income of
$2.5 million to $5 million on revenue of $50 million to $60 million. Ultralife
reaffirmed its full-year revenue guidance of at least $238 million.
Analysts polled by Thomson Financial, on average, estimate 2008 revenue of
$241.4 million.
Shares closed Wednesday at $13.59.
Casey Logan
cl/pc
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