Q1 2025 Ultralife Corp Earnings Call Transcript
Key Points
- Ultralife Corp (ULBI) reported a 21% year-over-year increase in revenue for Q1 2025, reaching $50.7 million.
- The acquisition of Electrochem has been a positive addition, contributing to the company's growth and expected to complete integration by Q2 2025.
- Government-defense sales increased by 53.6%, showcasing strong performance in this segment.
- The company has a strong backlog of $95 million, representing 55% of trailing 12-month sales, indicating healthy demand.
- Ultralife Corp (ULBI) is making strategic investments in new product development and marketing to support targeted growth goals.
- Gross margin declined by 230 basis points to 25.1% due to product mix and nonrecurring costs.
- Operating income decreased to $3.4 million from $4.1 million in the previous year, reflecting a decline in Communications Systems sales.
- The company faces challenges from tariffs, impacting cash flow and operational efficiency.
- Medical battery sales decreased by 12.3%, partially offsetting growth in other segments.
- The Communications Systems segment saw a 36.2% decline in revenue due to prior large shipments not being repeated.
Good day, and thank you for standing by. Welcome to the Ultralife Corporation first quarter 2025 results. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Alex Villalta of Alliance Advisors IR. Please go ahead.
Thank you, operator, and good morning, everyone. Thank you for joining us for Ultralife Corporation's earnings conference call for the first quarter of fiscal 2025. With us on today's call are Mr. Mike Manna, Ultralife's President and CEO; and Mr. Phil Fain, Ultralife's Chief Financial Officer. The earnings press release was issued earlier this morning, and if anyone has not yet received a copy, I invite you to visit the company's website at ultralife.com, where you'll find the release under the Investor News in the Investor Relations section.
Before turning the call over to management, I would like to remind everyone that some statements made during
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