Ultralife Receives $40 Million Follow-On Order to Supply Advanced Military Communications Systems
26 December 2007 10:55
Ultralife Batteries has received an order worth approximately US$40 million from a US defense contractor to supply advanced communications systems. This order is a follow-on to the US$62 million order the company announced on December 17. Deliveries are expected to occur during 2008 with delivery schedules to be agreed upon between Ultralife and the customer during the year.
For customer confidentiality reasons, Ultralife is not able to disclose either the customer's name or details about this order. "We are pleased by this customer's recognition of Ultralife's engineering capabilities in awarding us a total of over US$100 million worth of orders for advanced communications systems," said John D Kavazanjian, Ultralife's president and chief executive officer. "This order also attests to our success in designing advanced integrated communications systems in collaboration with a customer, in keeping with our strategy of forging durable partnerships with our customers to design power solutions and communications systems that meet their application requirements."
"Taking into consideration our estimate of incremental revenue from this order and the contribution from Stationary Power Services and Innovative Solutions Consulting - two businesses which we recently acquired - in addition to our quarterly revenue run rate on existing business and outlook for future demand, we estimate revenue in 2008 will reach at least $230 million," added Mr. Kavazanjian. "As we move through the year, we would expect to have greater visibility on our full year estimate and plan to provide detailed guidance for the first quarter of 2008 on the fourth quarter 2007 earnings conference call."
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Ultralife - Lithium Batteries, Chargers, Communications and Electronics Systems and Accessories
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