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<SEC-DOCUMENT>0001157523-08-001478.txt : 20080215
<SEC-HEADER>0001157523-08-001478.hdr.sgml : 20080215
<ACCEPTANCE-DATETIME>20080215163812
ACCESSION NUMBER:		0001157523-08-001478
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080215
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080215
DATE AS OF CHANGE:		20080215

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ULTRALIFE BATTERIES INC
		CENTRAL INDEX KEY:			0000875657
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				161387013
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20852
		FILM NUMBER:		08623194

	BUSINESS ADDRESS:	
		STREET 1:		2000 TECHNOLOGY PARKWAY
		CITY:			NEWARK
		STATE:			NY
		ZIP:			14513
		BUSINESS PHONE:		3153327100

	MAIL ADDRESS:	
		STREET 1:		2000 TECHNOLOGY PARKWAY
		CITY:			NEWARK
		STATE:			NY
		ZIP:			14513
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a5612491.htm
<DESCRIPTION>ULTRALIFE BATTERIES, INC. 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt">UNITED STATES</font><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt">SECURITIES
      AND EXCHANGE COMMISSION</font><br><font style="font-family: Times New Roman; font-size: 10pt">Washington,
      D.C. 20549</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">FORM
      8-K</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">Current
      Report</font><br><font style="font-family: Times New Roman; font-size: 12pt">
      PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934</font><br><br><font style="font-size: 10pt">Date
      of Report </font><font style="font-family: Times New Roman; font-size: 10pt">(Date
      of earliest event reported)</font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">February 15,
      2008</font><br><br><br><br><u><font style="font-size: 12pt">ULTRALIFE
      BATTERIES, INC.</font></u><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font><br><br><br>
    </p>
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 33%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 34%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Delaware</u>
          </p>
        </td>
        <td style="width: 33%">

        </td>
      </tr>
      <tr>
        <td style="width: 33%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 34%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of incorporation or organization)
          </p>
        </td>
        <td style="width: 33%">

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>000-20852</u>
          </p>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center; width: 34%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>16-1387013</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 34%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer Identification No.)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
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        <td style="padding-left: 0.0px; text-align: center; width: 75%; border-bottom: solid black 1.0pt" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            2000 Technology Parkway, Newark, New York
          </p>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center; width: 25%; border-bottom: solid black 1.0pt" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            14513
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 75%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 25%" valign="bottom">
          <font style="font-family: Times New Roman; font-size: 10pt">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    <p style="text-align: center">
      <u><font style="font-size: 10pt">(315) 332-7100</font></u><br><font style="font-family: Times New Roman; font-size: 10pt">(Registrant&#8217;s
      telephone number, including area code)</font><br><br><br>
    </p>
    <hr style="color: #000000; text-align: center; height: 1.0 pt; width: 100%">


    <p style="text-align: center">
      <br>

    </p>
    <p style="text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c)) </font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">1</font>
    </p>
    <div style="margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: justify">
      <font style="font-family: Times New Roman; font-size: 10pt">Item
      2.02&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition.</font><br><br><font style="font-size: 10pt">Ultralife
      (the &quot;Company&quot;) announced that, based on a preliminary review of results
      for the fourth quarter ended December 31, 2007, the company expects to
      report revenue in the range of $36.5 million and an operating loss in
      the range of $2.5 million. These preliminary results compare to the
      guidance management provided in its third quarter report that called for
      revenue of approximately $41 million to $44 million and operating profit
      of between $2.7 million and $3.5 million.</font>
    </p>
    <p style="text-align: justify">
      <font style="font-size: 10pt">The Company&#8217;s press release is attached as
      Exhibit 99.1 to this Form 8-K. The information set forth in this Form
      8-K and the attached exhibit is being furnished to and not filed with
      the Securities and Exchange Commission and shall not be deemed to be
      incorporated by reference in any filing under the Securities Exchange
      Act of 1934, as amended, or the Securities Act of 1933, as amended,
      except to the extent specifically provided in any such filing.</font>
    </p>
    <p>
      <br>
      <font style="font-size: 10pt">Item 9.01&#160;&#160;&#160;&#160;&#160;Financial Statements and
      Exhibits.</font>
    </p>
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 5%" valign="top">
          (a)
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 95%" valign="top">
          Exhibits.
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 95%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 95%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            99.1 Press Release dated February 15, 2008.
          </p>
        </td>
      </tr>
    </table>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">SIGNATURE</font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 6%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 44%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            ULTRALIFE BATTERIES, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 6%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Dated:
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            February 15, 2008
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 44%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 50%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 44%" valign="top">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 6%; padding-bottom: 2.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%; padding-bottom: 2.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 44%; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Robert W. Fishback
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 50%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 44%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Robert W. Fishback
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 50%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 44%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Vice President of Finance and CFO
          </p>
        </td>
      </tr>
    </table>
    <p style="text-align: center">
      <font style="font-size: 10pt">2</font>
    </p>
    <div style="margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <font style="font-size: 10pt">INDEX TO EXHIBITS</font><br><br>
    </p>
    <p style="white-space: nowrap">
      <font style="font-size: 10pt">(99)&#160;&#160;Additional Exhibits</font>
    </p>
    <p>

    </p>
    <p style="white-space: nowrap; text-indent: 30.0px">
      <font style="font-size: 10pt">99.1&#160;&#160;Press Release dated February 15,
      2008.</font>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt">3</font>
    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a5612491ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <b><font style="font-family: Times New Roman; font-size: 12pt">Ultralife
      Reports Preliminary Fourth Quarter Results</font></b>
    </p>
    <p>
      NEWARK, N.Y.--(BUSINESS WIRE)--Ultralife (NASDAQ: ULBI)<b> </b>announced
      that, based on a preliminary review of results for the fourth quarter
      ended December 31, the company expects to report revenue in the range of
      $36.5 million and an operating loss in the range of $2.5 million. These
      preliminary results compare to the guidance management provided in its
      third quarter report that called for revenue of approximately $41
      million to $44 million and operating profit of between $2.7 million and
      $3.5 million.
    </p>
    <p>
      During the quarter, a supplier&#8217;s delayed deliveries of a key component
      prevented the company from completing planned shipments on the $24
      million SATCOM-On-The-Move contract, announced in September 2007. This
      delay caused a shortfall to projected revenue of approximately $7.5
      million and a corresponding reduction in operating income of
      approximately $3.3 million, including unanticipated expenses the company
      incurred to address the delay. In cooperation with the customer, the
      company has implemented a plan to meet an adjusted delivery schedule and
      expects to complete shipments against this contract during the first
      half of 2008.
    </p>
    <p>
      The company also expects to record a charge of approximately $1 million
      against inventory mainly related to the integration of its McDowell
      Research communications systems business into its Newark, New York
      operations. As previously disclosed, the company also will record a
      non-operating gain of approximately $7.5 million from the negotiated
      settlement of the McDowell Research purchase price.
    </p>
    <p>
      In addition, fourth quarter results will include approximately $0.5
      million in higher-than-expected R&amp;D costs reflecting: work performed on
      a development contract that was not finalized until after the quarter
      closed; and, accelerated development work associated with the orders for
      $62 million and $40 million to supply advanced communications systems,
      which the company announced in December 2007.
    </p>
    <p>
      Lastly, the company&#8217;s guidance did not include the addition of
      Stationary Power Services, acquired in November 2007. Related to this
      acquisition, fourth quarter results will include revenue of
      approximately $1.5 million and an adverse impact of approximately $0.5
      million on the operating loss reflecting purchase accounting, intangible
      asset amortization and acquisition-related professional fees.
    </p>
    <p>
      &#8220;While we expected to deliver the SATCOM systems as planned for the
      quarter and are frustrated by the delay, we are still on an aggressive
      production ramp to meet the adjusted delivery schedule. We expect the
      fourth quarter revenue shortfall of $7.5 million will be additive to our
      previously disclosed 2008 guidance of at least $230 million,&#8221; said John
      D. Kavazanjian, Ultralife president and chief executive officer. &#8220;We
      also have started to deliver against the $62 million and $40 million
      orders for advanced communications systems that we received in December.
      Our recently acquired business, Stationary Power Services, is performing
      to plan although fair value accounting required that a portion of gross
      profit that ordinarily would be reflected on the income statement be
      reflected as an increase to inventory at the time of the acquisition. We
      continue to expect this business to be accretive in 2008.&#8221;
    </p>
    <p>
      The company is scheduled to report fourth quarter and full year 2007
      results on February 28 and hold a conference call at 10:00 AM ET that
      day.
    </p>
    <p>
      <b>About Ultralife</b>
    </p>
    <p>
      Ultralife, which began as a battery company, now offers products and
      services ranging from portable and standby 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.
    </p>
    <p>
      Ultralife&#8217;s family of brands includes: Ultralife Batteries, Stationary
      Power Services, Reserve Power Systems, ABLE, McDowell Research and
      RedBlack Communications. Ultralife&#8217;s operations are in North America,
      Europe and Asia. For more information, visit www.ulbi.com.
    </p>
    <p>
      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: Worsening global economic conditions,
      increased competitive environment and pricing pressures, disruptions
      related to restructuring actions and delays. 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.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br><u>Ultralife</u><br>Robert W. Fishback, 315-332-7100<br>bfishback@ulbi.com<br>or<br>Investor
      Relations:<br><u>Lippert/Heilshorn &amp; Associates, Inc.</u><br>Jody
      Burfening, 212-838-3777<br>jburfening@lhai.com
    </p>
    <p style="white-space: nowrap">

    </p>
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