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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. 30, 2020
Sep. 29, 2019
Sep. 30, 2020
Sep. 29, 2019
Revenues [1] $ 24,362 $ 27,493 $ 78,736 $ 75,772
Cost of products sold 17,851 19,632 56,928 53,962
Gross profit 6,511 7,861 21,808 21,810
Operating expenses:        
Research and development 1,606 2,029 4,429 4,652
Selling, general and administrative 4,198 4,526 12,893 12,262
Total operating expenses 5,804 6,555 17,322 16,914
Operating income 707 1,306 4,486 4,896
Other expense (income):        
Interest and financing expense 92 220 372 339
Miscellaneous income (39) (60) (110) (38)
Total other expense 53 160 262 301
Income before income tax provision 654 1,146 4,224 4,595
Income tax provision 192 225 1,010 942
Net income 462 921 3,214 3,653
Net income attributable to non-controlling interest 55 23 90 74
Net income attributable to Ultralife Corporation 407 898 3,124 3,579
Other comprehensive gain (loss):        
Foreign currency translation adjustments 677 (668) (88) (685)
Comprehensive income attributable to Ultralife Corporation $ 1,084 $ 230 $ 3,036 $ 2,894
Net income per share attributable to Ultralife common shareholders – basic (in dollars per share) $ 3 $ 6 $ 20 $ 23
Net income per share attributable to Ultralife common shareholders – diluted (in dollars per share) $ 3 $ 6 $ 19 $ 22
Weighted average shares outstanding – basic (in shares) 15,908 15,785 15,889 15,756
Potential common shares (in shares) 181 377 214 382
Weighted average shares outstanding - diluted (in shares) 16,089 16,162 16,103 16,138
[1] Sales classified to U.S. include shipments to U.S.-based prime contractors which in some cases may serve non-U.S. projects.