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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 29, 2019
Sep. 30, 2018
Sep. 29, 2019
Sep. 30, 2018
Revenues [1] $ 27,493 $ 20,330 $ 75,772 $ 66,263
Cost of products sold 19,632 14,289 53,962 46,390
Gross profit 7,861 6,041 21,810 19,873
Operating expenses:        
Research and development 2,029 1,099 4,652 3,417
Selling, general and administrative 4,526 3,442 12,262 10,968
Total operating expenses 6,555 4,541 16,914 14,385
Operating income 1,306 1,500 4,896 5,488
Other expense (income):        
Interest and financing expense 220 13 339 67
Miscellaneous (60) (34) (38) (40)
Total other expense (income) 160 (21) 301 27
Income before income tax provision 1,146 1,521 4,595 5,461
Income tax provision 225 86 942 219
Net income 921 1,435 3,653 5,242
Net income attributable to non-controlling interest 23 27 74 57
Net income attributable to Ultralife Corporation 898 1,408 3,579 5,185
Other comprehensive loss:        
Foreign currency translation adjustments (668) (436) (685) (862)
Comprehensive income attributable to Ultralife Corporation $ 230 $ 972 $ 2,894 $ 4,323
Net income per share attributable to Ultralife common shareholders – basic (in dollars per share) $ 0.06 $ 0.09 $ 0.23 $ 0.33
Net income per share attributable to Ultralife common shareholders – diluted (in dollars per share) $ 0.06 $ 0.09 $ 0.22 $ 0.32
Weighted average shares outstanding – basic (in shares) 15,785 15,952 15,756 15,859
Potential common shares (in shares) 377 571 382 548
Weighted average shares outstanding - diluted (in shares) 16,162 16,523 16,138 16,407
[1] Sales classified to U.S. include shipments to U.S.-based prime contractors which in some cases may serve non-U.S. projects