業績公告
即時報告
8-K
2026-08-07
Ultralife第二季毛利率升至28.9% 未交付訂單創歷史新高
AI 繁中摘要
Ultralife Corporation（NASDAQ: ULBI）公佈截至2026年6月30日止第二季度業績（8-K文件，附Exhibit 99.1）。第二季銷售額4,790萬美元，按年微跌1.3%（去年同期4,860萬美元）；毛利率顯著改善至28.9%（去年同期23.9%），主要受惠於產品組合 favourable、製造效率提升，以及一筆110萬美元IEEPA關稅退款淨額；若剔除該退款，毛利率為26.6%。經營溢利340萬美元（去年同期230萬美元），當中包括90萬美元一次性開支（主要涉及網絡保險索償訴訟及顧問費用）。GAAP每股盈利0.15美元，遠高於去年同期的0.05美元。經調整EBITDA為610萬美元，相當於銷售額12.8%（去年同期410萬美元，相當於8.5%）；過去十二個月經調整EBITDA為1,710萬美元（銷售額9.1%）。
分部表現：電池及能源產品銷售額4,420萬美元，按年跌3.7%，因商用銷售跌4.7%（石油及天然氣、工業銷售跌8.7%，抵銷醫療電池銷售升7.2%），政府/國防銷售則跌1.4%（去年有同盟國大額訂單基數較高）。通訊系統銷售額380萬美元，按年大增39.3%。截至第二季末，未交付訂單總額達1.175億美元，創公司歷史新高，高於首季末的1.151億美元及去年同期的8,450萬美元。
管理層表示，第二季毛利率較首季改善760點子，反映製造效率改善措施初見成效及銷售組合有利。通訊系統業務正處於新產品爭取訂單階段，預計今年稍後將推出多款新產品支援政府/國防項目；電池及能源產品業務則推進多元化產品開發，包括水載國防無人機應用，部分項目預期今年內投產。管理層重申2026年盈利增長展望。
對投資者而言，毛利率大幅擴闊及歷史新高 backlog 屬正面訊號；惟銷售額輕微倒退、經營開支因研發及一次性項目上升，以及關稅與通脹等宏觀不確定因素仍需留意。公司已於公佈當日東岸時間上午8時舉行投資者電話會議。
展開英文正文
EX-99.1 2 ex_1001163.htm EXHIBIT 99.1 ex_1001163.htm Exhibit 99.1 Ultralife Corporation Reports Second Quarter Results NEWARK, N.Y. – August 7, 2026 -- Ultralife Corporation (NASDAQ: ULBI) reported operating results for the second quarter ended June 30, 2026 with the following results: ● Sales of $47.9 million compared to $48.6 million for the 2025 second quarter ● Gross profit of $13.9 million, or 28.9% of revenue, compared to $11.6 million, or 23.9% of revenue, for the 2025 second quarter; excluding a $1.1 million net IEEPA refund received in the 2026 second quarter, gross margin was 26.6% ● Operating income of $3.4 million, including one-time costs of $0.9 million, compared to $2.3 million including one-time costs of $0.3 million for the 2025 second quarter ● GAAP EPS of $0.15 compared to $0.05 for the 2025 second quarter ● Adjusted EBITDA of $6.1 million compared to $4.1 million for the 2025 second quarter ● Backlog of $117.5 million compared to $115.1 million exiting the first quarter of 2026 “For the second quarter we delivered a 760-basis point improvement in gross profit margin compared to the first quarter, including the contribution of the net IEEPA refund. This improvement reflects measurable benefits realized to date from our initiatives to address manufacturing inefficiencies along with favorable sales mix. Our Communications Systems business is poised to produce revenue gains as new products move through the capture phase, and continues to expand its opportunity funnel while preparing to launch multiple new products later this year in support of government/defense programs. At the same time, we are advancing a diverse set of product development programs in our Battery & Energy Products business including programs to support water-based defense drone applications. Several of these programs are expected to transition into production later this year while we continue to execute our backlog. These multi-year revenue opportunities combined with our ongoing gross margin improvement initiatives, reinforce our outlook for profitable growth in 2026,” said Mike Manna, President and Chief Executive Officer. Second Quarter 2026 Financial Results Revenue was $47.9 million, a decrease of $0.6 million, or 1.3%, as compared to revenue of $48.6 million for the second quarter of 2025. Battery & Energy Products sales decreased 3.7% to $44.2 million compared to $45.9 million last year. The year-over-year decrease reflects a 4.7% decline in commercial sales due to an 8.7% decline in oil & gas and industrial sales offsetting a 7.2% increase in medical battery sales, and a 1.4% decline in government/defense sales due to the shipment of a very large order for an allied country last year. Communications Systems sales increased by 39.3% to $3.8 million compared to $2.7 million for the same period last year. Our total backlog exiting the second quarter was $117.5 million, the highest level in the Company’s history, compared to $115.1 million exiting the first quarter of 2026 and $84.5 million exiting the second quarter of 2025. Gross profit was $13.9 million, or 28.9% of revenue, compared to $11.6 million, or 23.9% of revenue, for the same quarter a year ago. Battery & Energy Products gross margin was 28.3%, compared to 23.6% last year, primarily due to favorable product mix and the refund of the IEEPA tariffs in the current period. Communications Systems gross margin was 36.3% compared to 28.4% last year, primarily due to sales mix. Operating expenses were $10.4 million, compared to $9.3 million for the second quarter of 2025, reflecting an increase in new product development costs related to continued investment in our product offering, and one-time, non-recurring costs of $0.9 million primarily related to litigation expenses incurred for our cyber-insurance claim and the completion of certain consulting costs to help expedite our gross margin improvement. Operating expenses were 21.8% of revenue compared to 19.2% of revenue for the year-earlier period. Operating income was $3.4 million compared to $2.3 million last year. Other expense was $0.5 million primarily comprised of interest expense from the financing of our Electrochem acquisition partially offset by the second quarter estimated portion of a refundable tax credit for certain qualifying battery cells and packs we manufacture under the 45X Advanced Manufacturing Production Tax Credit. This compares to $1.1 million for the year-earlier period primarily reflecting the Electrochem acquisition financing and net foreign currency losses. Net income attributable to Ultralife Corporation was $2.5 million or $0.15 per basic and diluted share on a GAAP basis, compared to $0.9 million or $0.05 per basic and diluted share for the second quarter of 2025. Adjusted EBITDA, defined as EBITDA including non-cash, stock-based compensation expense and one-time costs not reflective of our ongoing operations, was $6.1 million for the second quarter of 2026, or 12.8% of sales, compared to $4.1 million, or 8.5% of sales, for the year-earlier period. On a trailing twelve-month basis, adjusted EBITDA was $17.1 million or 9.1% of sales. See the “Non-GAAP Financial Measures” section of this release for a reconciliation of adjusted EBITDA to net income attributable to Ultralife Corporation. About Ultralife Corporation Ultralife Corporation serves its markets with products and services ranging from power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government/defense and commercial customers across the globe. Headquartered in Newark, New York, the Company's business segments include Battery & Energy Products and Communications Systems. Ultralife has operations in North America, Europe and Asia. For more information, visit www.ultralifecorporation.com. Conference Call Information Ultralife will hold its second quarter earnings conference call today at 8:00 AM ET. To ensure a fast and reliable connection to our investor conference call, we now require participants dialing in by phone to register using the following link prior to the call: https://register-conf.media-server.com/register/BI4beea58f157a441ba44284b283b1001f. This will eliminate the need to speak with an operator. Once registered, dial-in information will be provided along with a personal identification number. Should you register early and misplace your details, you can simply click back on this same link at any time to register and view this information again. A live webcast of the conference call will be available to investors in the Events & Presentations section of the Company's website at http://investor.ultralifecorporation.com. For those who cannot listen to the live broadcast, a replay of the webcast will be available shortly after the call at the same location. This press release may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. The potential risks and uncertainties that could cause actual results to differ materially include uncertain global economic conditions including the impact of tariffs and inflation, reductions in revenues from key customers, delays or reductions in U.S. and foreign military spending, acceptance of our new products on a global basis, and disruptions, delays or material price increases in our supply of raw materials and components due to business conditions, new or additional tariffs, global conflicts, weather or other factors not under our control. The Company cautions investors not to place undue reliance on forward-looking statements, which reflect the Company's analysis only as of today's date. The Company undertakes no obligation to publicly update forward-looking statements to reflect subsequent events or circumstances. Further information on these factors and other factors that could affect Ultralife’s financial results is included in Ultralife’s Securities and Exchange Commission (SEC) filings, including the latest Annual Report on Form 10-K. ULTRALIFE CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Dollars in Thousands) (Unaudited) June 30, 2026 December 31, 2025 ASSETS Current Assets: Cash $6,663 $9,345 Trade Accounts Receivable, Net 34,770 33,948 Inventories, Net 58,745 54,008 Prepaid Expenses and Other Current Assets 6,980 8,500 Total Current Assets 107,158 105,801 Property, Plant and Equipment, Net 39,514 40,397 Goodwill 45,369 45,376 Other Intangible Assets, Net 10,386 10,933 Deferred Income Taxes, Net 10,335 10,494 Other Non-Current Assets 3,395 3,911 Total Assets $216,157 $216,912 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts Payable $22,601 $17,423 Current Portion of Long-Term Debt 1,750 4,125 Accrued Compensation and Related Benefits 2,930 2,754 Accrued Expenses and Other Current Liabilities 10,074 13,031 Total Current Liabilities 37,355 37,333 Long-Term Debt, Net 42,854 45,526 Deferred Income Taxes, Net 934 1,000 Other Non-Current Liabilities 2,413 2,919 Total Liabilities 83,556 86,778 Shareholders' Equity: Common Stock 2,110 2,109 Capital in Excess of Par Value 192,983 192,859 Accumulated Deficit (38,248) (40,340) Accumulated Other Comprehensive Loss (2,846) (3,141) Treasury Stock (21,492) (21,492) Total Ultralife Equity 132,507 129,995 Non-Controlling Interest 94 139 Total Shareholders’ Equity 132,601 130,134 Total Liabilities and Shareholders' Equity $216,157 $216,912 ULTRALIFE CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (In Thousands Except Per Share Amounts) (Unaudited) Three-Month Period Ended Six-Month Period Ended June 30, June 30, June 30, June 30, 2026 2025 2026 2025 Revenues: Battery & Energy Products $44,189 $45,867 $88,344 $92,188 Communications Systems 3,754 2,694 7,044 7,119 Total Revenues 47,943 48,561 95,388 99,307 Cost of Products Sold: Battery & Energy Products 31,686 35,032 66,483 69,913 Communications Systems 2,391 1,928 4,929 5,048 Total Cost of Products Sold 34,077 36,960 71,412 74,961 Gross Profit 13,866 11,601 23,976 24,346 Operating Expenses: Research and Development 3,225 2,318 6,186 4,722 Selling, General and Administrative 7,204 7,027 14,568 13,969 Total Operating Expenses 10,429 9,345 20,754 18,691 Operating Income 3,437 2,256 3,222 5,655 Other Expense 451 1,143 899 2,096 Income Before Income Taxes 2,986 1,113 2,323 3,559 Income Tax Provision 468 243 276 810 Net Income 2,518 870 2,047 2,749 Net (Loss) Income Attributable to Non-Controlling Interest (25) (9) (45) 5 Net Income Attributable to Ultralife Corporation $2,543 $879 $2,092 $2,744 Net Income Per Share Attributable to Ultralife Common Shareholders – Basic $.15 $.05 $.13 $.17 Net Income Per Share Attributable to Ultralife Common Shareholders – Diluted $.15 $.05 $.13 $.17 Weighted Average Shares Outstanding – Basic 16,659 16,635 16,658 16,634 Weighted Average Shares Outstanding – Diluted 16,714 16,656 16,703 16,671 Non-GAAP Financial Measures Adjusted EBITDA In evaluating our business, we consider and use adjusted EBITDA, a non-GAAP financial measure, as a supplemental measure of our operating performance in addition to GAAP financial measures. We define adjusted EBITDA as net income attributable to Ultralife Corporation before net interest expense, provision for income taxes, depreciation and amortization, and stock-based compensation expense, plus/minus expense/income that we do not consider reflective of our ongoing continuing operations. We reconcile adjusted EBITDA to net income attributable to Ultralife Corporation, the most comparable financial measure under GAAP. Neither current nor potential investors in our securities should rely on adjusted EBITDA as a substitute for any GAAP measures and we encourage investors to review the following reconciliation of adjusted EBITDA to net income attributable to Ultralife Corporation. ULTRALIFE CORPORATION AND SUBSIDIARIES CALCULATION OF ADJUSTED EBITDA (Dollars in Thousands) (Unaudited) Three-Month Period Ended Six-Month Period Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net Income Attributable to Ultralife Corporation $2,543 $879 $2,092 $2,744 Adjustments: Interest Expense, Net 839 992 1,707 2,024 Income Tax Provision 468 243 276 810 Depreciation Expense 1,056 1,008 2,110 1,958 Amortization Expense 268 410 535 815 Stock-Based Compensation Expense 90 235 89 462 Other Non-Recurring Costs 884 326 1,731 518 One-Time Events Impacting Production - - 817 - Severance Cost for Plant Closure - - - 150 Non-Cash Purchase Accounting Adjustment - 20 - 80 Adjusted EBITDA $6,148 $4,113 $9,357 $9,561 Company Contact: Ultralife Corporation Philip A. Fain (315) 210-6110 [email protected] Investor Relations Contact: Alliance Advisors IR Jody Burfening (212) 838-3777 [email protected]