Today, Ultralife Corp. reported that a U.S. defense contractor has placed approximately $21 million in orders for the company’s SATCOM-On-The-Move systems for use in its MRAP armored vehicles. Deliveries are expected to begin this quarter, with a completion target in the fourth quarter of 2010.
Once solely a battery company, Ultralife Corporation now operates within three business segments: Battery & Energy Products, Communications Systems and Energy Services. The company provides a host of products and services that range from portable and standby power solutions to communications and electronics systems. Ultralife regularly serves government, defense and commercial customers across the globe, making it a prime candidate for collaboration with this particular U.S. contractor.
President and CEO John D. Kavazanjian commented, “As one of the preferred vendors for critical defense communications systems, we are well positioned to benefit from ongoing demand by the U.S. military for SATCOM systems for use in various military vehicle programs. Because of this standing, our battle-tested, radio independent SATCOM systems have been once again selected for use in MRAP vehicles.”
He continued, “These orders were not contemplated in our base line revenue plan for 2010 which called for revenue of $177 million. We will provide investors with an update on our outlook for 2010 operating profit and Adjusted EBITDA in our second quarter earnings call.”
For more information on Ultralife, visit www.ultralifecorp.com.