Ultralife Batteries, Inc. (NASDAQ: ULBI) announced that it has received an order worth approximately $40 million. The order is from a U.S. defense contractor to supply advanced communications systems and is a follow-on to the $62 million order the company announced on December 17.
The deliveries are expected to occur in 2008 with schedules to be agreed upon between Ultralife and the customer. For customer confidentiality reasons, Ultralife is not able to disclose either the customer’s name or details about this order.
The company says this result is an awarding of a total of over $100 million worth of orders for advanced communications systems. Ultralife Batteries has a $246 million market cap and is expected to post $143.3 million and $194 million in revenues for 2007 and 2008, respectively. Its 52-week trading range is $7.98 to $17.10 and closed at $16.75 on Monday; analysts have an average price target of $17.25.
Jon C. Ogg
December 26, 2007