NASDAQ$ULBI

Ultralife Corporation · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Ultralife reported fourth quarter results, with revenue decreasing due to the negative economic impact of the global pandemic, offset by growth in medical and government/defense sales.

Ultralife Corporation reported a decrease in revenue for the fourth quarter, primarily due to the negative economic impact of the global pandemic. However, the company saw growth in medical and government/defense sales, which partially offset the decline. The company's operating results were in line with internal expectations.

  • GAAP EPS was $0.13, and Adjusted EPS was $0.17.
  • Revenue was $29.0 million, a decrease of 6.6% compared to the same quarter last year.
  • Battery & Energy Products medical sales were up 94% and government/defense sales were up 19%.
  • The company recognized a $1.6 million gain upon resolution of a claim in a class action lawsuit.

Headline financials

Total Revenue

$29M

Previous: $31M-6.6%
EPS (adj)

$0.17

Previous: $0.13+30.8%
Capital Expenditures

$1.2M

Previous: $1.44M-16.4%
Free Cash Flow

-$970K

Previous: $442K-319.5%
Net Income

$2.1M

Previous: $1.6M+31.3%
Operating Income

$1.2M

Previous: $2.5M-52.0%
Gross Profit

$7.4M

Previous: $9.4M-21.3%
Cash & Equivalents

$10.6M

Previous: $7.14M+48.0%
Total Assets

$138M

Previous: $145M-4.7%
Stock-Based Comp

$187K

Previous: $234K-20.1%

Revenue & EPS history

Ultralife · Revenue · Quarterly

$29M

Q4 2020-6.6%vs Q4 2019
Beat estimate in 1 of 3 quarters(33%)
ActualEstimate

Revenue by segment

Ultralife · $3.7M total across 1 segment · Q4 2020

  • Communications Systems
    $3.7M-37.3%

Forward guidance

While the outlook for demand in our end markets is less visible than we would like, we will remain focused on what we can control: organic growth initiatives, including completing transformational new product development projects and investments in strategic capital expenditure, and synergistic acquisitions.

Tailwinds

  • Focus on organic growth initiatives
  • Completing transformational new product development projects
  • Investments in strategic capital expenditure
  • Synergistic acquisitions

Headwinds

  • The outlook for demand in our end markets is less visible than we would like

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

+0.1%

Avg return

Earnings day

+1.7%

Avg return

5 days after

+5.4%

Avg return

30 days after

46%

30 / 65 earnings

Positive

+56.6%

Q2 2023

Best reaction

-26.7%

Q2 2012

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-14.3%-16.4%-4.6%
Q4 2025+8.3%+22.9%+28.5%
Q3 2025-9.0%-5.4%+4.7%
Q1 2025+2.9%+13.1%+57.8%
Q4 2024-6.1%-16.0%-18.2%
Q3 2024-14.3%-16.5%-18.3%
Q2 2024-3.1%-4.1%-1.8%
Q1 2024+30.5%+34.0%+29.4%
Q4 2023+16.5%+11.6%+6.6%
Q3 2023-22.3%-19.3%-18.2%
Q2 2023+56.6%+70.8%+87.4%
Q1 2023+3.6%-1.2%+4.9%
Q4 2022+0.5%-3.2%-0.2%
Q3 2022-4.6%-7.1%-15.4%
Q2 2022-4.1%-1.9%+8.8%
Q1 2022+6.4%+3.9%+7.1%
Q4 2021-7.4%-9.1%+0.9%
Q3 2021-9.3%-7.4%-19.9%
Q2 2021-6.3%-4.8%-5.3%
Q1 2021-1.4%-3.5%+14.0%
Q4 2020+8.2%+24.6%+11.9%
Q3 2020-9.8%-6.5%+20.1%
Q2 2020+1.7%+1.0%-9.7%
Q1 2020+7.6%+19.7%+19.3%
Q4 2019+11.4%+12.7%+0.0%
Q3 2019-7.1%-5.5%-6.4%
Q2 2019+6.0%-1.8%-1.8%
Q1 2019-18.1%-23.2%-30.0%
Q4 2018+4.1%+12.9%+26.1%
Q3 2018+10.9%+9.7%+8.4%
Q2 2018-3.5%-1.0%-13.5%
Q1 2018+3.3%+0.0%+12.1%
Q4 2017+7.6%+8.3%+19.7%
Q3 2017-14.3%-12.2%-12.9%
Q2 2017-2.2%-4.3%-6.5%
Q1 2017+7.2%+6.3%+20.7%
Q4 2016-1.0%+6.9%+8.8%
Q3 2016-7.8%-8.9%+6.7%
Q2 2016-7.6%-13.8%-11.0%
Q1 2016-11.0%
Q4 2015-4.5%
Q3 2015+5.3%
Q2 2015+0.0%
Q1 2015+1.5%
Q4 2014+9.7%
Q3 2014+5.7%
Q2 2014-8.3%
Q1 2014+7.2%
Q4 2013-5.2%
Q3 2013-4.5%
Q2 2013-0.3%
Q1 2013+1.8%
Q4 2012+11.2%
Q3 2012+5.9%
Q2 2012-26.7%
Q1 2011+0.5%
Q1 2012-1.0%
Q4 2011+0.6%
Q4 2009+0.6%
Q3 2011-3.0%
Q3 2010-3.0%
Q4 2010-0.2%
Q2 2010-0.2%
Q2 2011-0.2%
Q1 2010+4.2%

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