XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues [1] $ 28,560 $ 29,397 $ 54,374 $ 48,279
Cost of products sold 20,597 20,532 39,077 34,330
Gross profit 7,963 8,865 15,297 13,949
Operating expenses:        
Research and development 1,275 1,587 2,823 2,623
Selling, general and administrative 4,394 4,236 8,695 7,736
Total operating expenses 5,669 5,823 11,518 10,359
Operating income 2,294 3,042 3,779 3,590
Other expense (income):        
Interest and financing expense 106 114 280 119
Miscellaneous 11 (31) (71) 22
Total other expense 117 83 209 141
Income before income tax provision 2,177 2,959 3,570 3,449
Income tax provision 499 676 818 717
Net income 1,678 2,283 2,752 2,732
Net income attributable to non-controlling interest 20 27 35 51
Net income attributable to Ultralife Corporation 1,658 2,256 2,717 2,681
Other comprehensive loss:        
Foreign currency translation adjustments 42 (452) (765) (17)
Comprehensive income attributable to Ultralife Corporation $ 1,700 $ 1,804 $ 1,952 $ 2,664
Net income per share attributable to Ultralife common shareholders – basic (in dollars per share) $ 10 $ 14 $ 17 $ 17
Net income per share attributable to Ultralife common shareholders – diluted (in dollars per share) $ 10 $ 14 $ 17 $ 17
Weighted average shares outstanding – basic (in shares) 15,882 15,742 15,880 15,741
Potential common shares (in shares) 251 451 234 439
Weighted average shares outstanding - diluted (in shares) 16,133 16,193 16,114 16,180
[1] Sales classified to U.S. include shipments to U.S.-based prime contractors which in some cases may serve non-U.S. projects.