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Note 10 - Business Segment Information

9 Months Ended

Sep. 30, 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 September 30, 2024:

		Battery & Energy Products				Communications Systems				Corporate				Total
Revenues		$	32,529			$	3,165			$	-			$	35,694
Segment contribution			8,047				635				(8,171	)			511
Other expense											(158	)			(158	)
Income tax provision											(74	)			(74	)
Non-controlling interest											(21	)			(21	)
Net income attributable to Ultralife														$	258

Three-month period ended September 30, 2023:

		Battery & Energy Products				Communications Systems				Corporate				Total
Revenues		$	31,919			$	7,569			$	-			$	39,488
Segment contribution			7,728				2,046				(7,639	)			2,135
Other expense											(386	)			(386	)
Income tax provision											(446	)			(446	)
Non-controlling interest											27				27
Net income attributable to Ultralife														$	1,330

Nine-month period ended September 30, 2024:

		Battery & Energy Products				Communications Systems				Corporate				Total
Revenues			104,201			$	16,403			$	-			$	120,604
Segment contribution			26,986				4,729				(23,224	)			8,491
Other expense											(685	)			(685	)
Income tax provision											(1,630	)			(1,630	)
Non-controlling interest											(58	)			(58	)
Net income attributable to Ultralife														$	6,118

Nine-month period ended September 30, 2023:

		Battery & Energy Products				Communications Systems				Corporate				Total
Revenues		$	94,250			$	19,846			$	-			$	114,096
Segment contribution			21,783				6,015				(21,972	)			5,826
Other income											178				178
Income tax provision											(1,688	)			(1,688	)
Non-controlling interest											8				8
Net income attributable to Ultralife														$	4,324

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

Commercial and Government/Defense Revenue Information:

Three-month period ended September 30, 2024:

		Total Revenue				Commercial				Government/ Defense
Battery & Energy Products		$	32,529			$	22,516			$	10,013
Communications Systems			3,165				-				3,165
Total		$	35,694			$	22,516			$	13,178
							63	%			37	%

Three-month period ended September 30, 2023:

		Total Revenue				Commercial				Government/ Defense
Battery & Energy Products		$	31,919			$	24,150			$	7,769
Communications Systems			7,569				-				7,569
Total		$	39,488			$	24,150			$	15,338
							61	%			39	%

Nine-month period ended September 30, 2024:

		Total Revenue				Commercial				Government/ Defense
Battery & Energy Products		$	104,201			$	74,320			$	29,881
Communications Systems			16,403				-				16,403
Total		$	120,604			$	74,320			$	46,284
							62	%			38	%

Nine-month period ended September 30, 2023:

		Total Revenue				Commercial				Government/ Defense
Battery & Energy Products		$	94,250			$	73,319			$	20,931
Communications Systems			19,846				-				19,846
Total		$	114,096			$	73,319			$	40,777
							64	%			36	%

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

Three-month period ended September 30, 2024:

		Total Revenue				United States				Non-United States
Battery & Energy Products		$	32,529			$	18,311			$	14,218
Communications Systems			3,165				2,567				598
Total		$	35,694			$	20,878			$	14,816
							58	%			42	%

Three-month period ended September 30, 2023:

		Total Revenue				United States				Non-United States
Battery & Energy Products		$	31,919			$	15,926			$	15,993
Communications Systems			7,569				4,348				3,221
Total		$	39,488			$	20,274			$	19,214
							51	%			49	%

Nine-month period ended September 30, 2024:

		Total Revenue				United States				Non-United States
Battery & Energy Products		$	104,201			$	57,326			$	46,875
Communications Systems			16,403				11,412				4,991
Total		$	120,604			$	68,738			$	51,866
							57	%			43	%

Nine-month period ended September 30, 2023:

		Total Revenue				United States				Non-United States
Battery & Energy Products		$	94,250			$	47,088			$	47,162
Communications Systems			19,846				11,170				8,676
Total		$	114,096			$	58,258			$	55,838
							51	%			49	%

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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