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Note 10 - Business Segment Information

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

10. BUSINESS SEGMENT INFORMATION

We report our results in two operating segments: Battery & Energy Products and Communications Systems. The Battery & Energy Products segment includes Lithium 9-volt, cylindrical and various other non-rechargeable batteries, in addition to rechargeable batteries, uninterruptable power supplies, charging systems and accessories. The Communications Systems segment includes RF amplifiers, power supplies, cable and connector assemblies, amplified speakers, equipment mounts, case equipment, man-portable systems, integrated communication systems for fixed or vehicle applications and communications and electronics systems design. We believe that reporting performance at the gross profit level is the best indicator of segment performance. 

Three-month period ended March 31, 2024:

		Battery & Energy Products				Communications Systems				Corporate				Total
Revenues		$	34,989			$	6,938			$	-			$	41,927
Segment contribution			8,986				2,484				(7,407	)			4,063
Other expense											(456	)			(456	)
Tax provision											(703	)			(703	)
Non-controlling interest											(13	)			(13	)
Net income attributable to Ultralife Corporation														$	2,891

Three-month period ended March 31, 2023:

		Battery & Energy Products				Communications Systems				Corporate				Total
Revenues		$	28,470			$	3,446			$	-			$	31,916
Segment contribution			6,512				924				(7,410	)			26
Other expense											(494	)			(494	)
Tax benefit											133				133
Non-controlling interest											(11	)			(11	)
Net loss attributable to Ultralife Corporation														$	(346	)

The following tables disaggregate our business segment revenues by major source and geography.

Commercial and Government/Defense Revenue Information:

Three-month period ended March 31, 2024:

		Total Revenue				Commercial				Government/ Defense
Battery & Energy Products		$	34,989			$	24,140			$	10,849
Communications Systems			6,938				-				6,938
Total		$	41,927			$	24,140			$	17,787
							58	%			42	%

Three-month period ended March 31, 2023:

		Total Revenue				Commercial				Government/ Defense
Battery & Energy Products		$	28,470			$	22,219			$	6,251
Communications Systems			3,446				-				3,446
Total		$	31,916			$	22,219			$	9,697
							70	%			30	%

U.S. and Non-U.S. Revenue Information¹:

Three-month period ended March 31, 2024:

		Total Revenue				United States				Non-United States
Battery & Energy Products		$	34,989			$	19,603			$	15,386
Communications Systems			6,938				4,858				2,080
Total		$	41,927			$	24,461			$	17,466
							58	%			42	%

Three-month period ended March 31, 2023:

		Total Revenue				United States				Non-United States
Battery & Energy Products		$	28,470			$	13,768			$	14,702
Communications Systems			3,446				2,877				569
Total		$	31,916			$	16,645			$	15,271
							52	%			48	%

¹ Sales classified to U.S. include shipments to U.S.-based prime contractors which in some cases may serve non-U.S. projects.

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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