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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenue [1] $ 25,973 $ 25,814
Cost of products sold 18,995 18,480
Gross profit 6,978 7,334
Operating expenses:    
Research and development 1,647 1,548
Selling, general and administrative 4,379 4,301
Total operating expenses 6,026 5,849
Operating income 952 1,485
Other (expense) income:    
Interest and financing expense (56) (174)
Miscellaneous income 0 82
Total other expense (56) (92)
Income before income taxes 896 1,393
Income tax provision 217 319
Net income 679 1,074
Net income attributable to non-controlling interest (8) (15)
Net income attributable to Ultralife Corporation 671 1,059
Other comprehensive gain (loss):    
Foreign currency translation adjustments 103 (807)
Comprehensive income attributable to Ultralife Corporation $ 774 $ 252
Net income per share attributable to Ultralife common shareholders – basic (in dollars per share) $ 4 $ 7
Net income per share attributable to Ultralife common shareholders – diluted (in dollars per share) $ 4 $ 7
Weighted average shares outstanding – basic (in shares) 15,973 15,875
Potential common shares (in shares) 179 212
Weighted average shares outstanding - diluted (in shares) 16,152 16,087
[1] Sales classified to U.S. include shipments to U.S.-based prime contractors which in some cases may serve non-U.S. projects.