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Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Revenue [1] $ 106,795 $ 87,190
Cost of products sold 75,630 61,607
Gross profit 31,165 25,583
Operating expenses:    
Research and development 6,805 4,508
Selling, general and administrative 16,992 14,520
Total operating expenses 23,797 19,028
Operating income 7,368 6,555
Other expense (income):    
Interest and financing expense 539 63
Miscellaneous 58 (121)
Income Before Income Taxes 6,771 6,613
Income tax provision (benefit) 1,457 (18,386)
Net income 5,314 24,999
Net income attributable to non-controlling interest 109 69
Net income attributable to Ultralife Corporation 5,205 24,930
Other comprehensive income (loss):    
Foreign currency translation adjustments 255 (1,175)
Comprehensive income attributable to Ultralife Corporation $ 5,460 $ 23,755
Net income per share attributable to Ultralife Corporation common shareholders – Basic: (in dollars per share) $ 0.33 $ 1.57
Net income per share attributable to Ultralife Corporation common shareholders – Diluted: (in dollars per share) $ 0.32 $ 1.53
Weighted average shares outstanding – Basic (in shares) 15,783 15,882
Weighted average shares outstanding – Diluted (in shares) 16,179 16,347
[1] Sales classified to U.S. include shipments to U.S.-based prime contractors which in some cases may serve non-U.S. projects