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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jul. 01, 2018
Jun. 30, 2019
Jul. 01, 2018
Revenues [1] $ 29,397 $ 22,864 $ 48,279 $ 45,933
Cost of products sold 20,532 16,314 34,330 32,101
Gross profit 8,865 6,550 13,949 13,832
Operating expenses:        
Research and development 1,587 1,218 2,623 2,318
Selling, general and administrative 4,236 3,700 7,736 7,526
Total operating expenses 5,823 4,918 10,359 9,844
Operating income 3,042 1,632 3,590 3,988
Other expense (income):        
Interest and financing expense 114 21 119 54
Miscellaneous (31) (107) 22 (6)
Total other expenses (income) 83 (86) 141 48
Income before income tax provision 2,959 1,718 3,449 3,940
Income tax provision 676 78 717 133
Net income 2,283 1,639 2,732 3,807
Net income attributable to non-controlling interest 27 13 51 30
Net income attributable to Ultralife Corporation 2,256 1,627 2,681 3,777
Other comprehensive loss:        
Foreign currency translation adjustments (452) (1,177) (17) (425)
Comprehensive income attributable to Ultralife Corporation $ 1,804 $ 450 $ 2,664 $ 3,352
Net income per share attributable to Ultralife common shareholders – basic (in dollars per share) $ 0.14 $ 0.10 $ 0.17 $ 0.24
Net income per share attributable to Ultralife common shareholders – diluted (in dollars per share) $ 0.14 $ 0.10 $ 0.17 $ 0.23
Weighted average shares outstanding – basic (in shares) 15,742 15,922 15,741 15,813
Potential common shares (in shares) 451 598 439 541
Weighted average shares outstanding - diluted (in shares) 16,193 16,520 16,180 16,354
[1] Sales classified to U.S. include shipments to U.S.-based prime contractors which in some cases may serve non-U.S. projects