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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues [1] $ 26,770 $ 28,560 $ 52,743 $ 54,374
Cost of products sold 19,503 20,597 38,498 39,077
Gross profit 7,267 7,963 14,245 15,297
Operating expenses:        
Research and development 1,853 1,275 3,500 2,823
Selling, general and administrative 4,323 4,394 8,702 8,695
Total operating expenses 6,176 5,669 12,202 11,518
Operating income 1,091 2,294 2,043 3,779
Other expense (income):        
Interest and financing expense 55 106 111 280
Miscellaneous (34) 11 (34) (71)
Total other expense 21 117 77 209
Income before income tax provision 1,070 2,177 1,966 3,570
Income tax provision 248 499 465 818
Net income 822 1,678 1,501 2,752
Net income attributable to non-controlling interest 11 20 19 35
Net income attributable to Ultralife Corporation 811 1,658 1,482 2,717
Other comprehensive income (loss):        
Foreign currency translation adjustments 93 42 196 (765)
Comprehensive income attributable to Ultralife Corporation $ 904 $ 1,700 $ 1,678 $ 1,952
Net income per share attributable to Ultralife common stockholders – basic (in dollars per share) $ 5 $ 10 $ 9 $ 17
Net income per share attributable to Ultralife common stockholders – diluted (in dollars per share) $ 5 $ 10 $ 9 $ 17
Weighted average shares outstanding – basic (in shares) 16,019 15,882 15,997 15,880
Potential common shares (in shares) 241 251 197 234
Weighted average shares outstanding - diluted (in shares) 16,260 16,133 16,194 16,114
[1] Sales classified to U.S. include shipments to U.S.-based prime contractors which in some cases may serve non-U.S. projects.