Shares of Ultralife Corporation (ULBI) gained over 18% on Thursday morning after reporting its first-quarter results.
ULBI is currently trading at $10.31, up $1.58 or 18.26%, on the Nasdaq. The stock opened its trading at $10.50 after closing Wednesday at $8.73. The stock has traded between $3.92 and $11.85 in the past 52-week period.
Revenues increase 31.4% to $41.9 million, as compared to revenue of $31.9 million last year.
Net income was $2.9 million or $0.18 per share, compared to a net loss of $0.3 million or $0.02 per share for the first quarter of 2023. Adjusted EPS was $0.21, compared to a loss of $0.05 for the quarter.
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