Ultralife Corporation Awarded $4.7 Million Communications Systems Follow-On Contract
August 14 2017 - 7:00AM
Ultralife Corporation (NASDAQ:ULBI) has been awarded a contract
valued at approximately $4.7 million to supply its Vehicle
Installed Power Enhanced Rifleman Appliqué (“VIPER”) to Thales
Defense & Security, Inc., a global leader in the development,
manufacture, and support of combat-proven, software-defined
radio equipment, for the U.S. Army. This contract
follows VIPER awards received and shipped in 2015 and 2016 totaling
$10.5 million. Shipments are expected to commence in 2017 and be
completed in the first half of 2018.
“We are proud that our product has once again been selected as a
critical component for the U.S. Army’s multi-phased modernization
program providing enhanced digital voice and data communications to
the dismounted soldier. This contract further illustrates the
benefits of our strategy of investing in product development and
engineering in close collaboration with a strategic partner,” said
Michael D. Popielec, Ultralife’s President and Chief Executive
Officer. “As we continue to develop new products across our
business, our VIPER platform provides a technically advanced
building block for the increasingly complex, secure integrated
communications products required for soldier modernization.”
About Ultralife Corporation
Ultralife Corporation serves its markets with products and
services ranging from power solutions to communications and
electronics systems. Through its engineering and
collaborative approach to problem solving, Ultralife serves
government, defense and commercial customers across the globe.
Headquartered in Newark, New York, the Company's business
segments include Battery & Energy Products and Communications
Systems. Ultralife has operations in North America, Europe
and Asia. For more information, visit
www.ultralifecorporation.com.
This press release may contain forward-looking statements based
on current expectations that involve a number of risks and
uncertainties. The potential risks and uncertainties that could
cause actual results to differ materially include: potential
reductions in revenues from key customers, uncertain global
economic conditions and acceptance of our new products on a global
basis. The Company cautions investors not to place undue reliance
on forward-looking statements, which reflect the Company's analysis
only as of today's date. The Company undertakes no obligation to
publicly update forward-looking statements to reflect subsequent
events or circumstances. Further information on these factors
and other factors that could affect Ultralife’s financial results
is included in Ultralife’s Securities and Exchange Commission (SEC)
filings, including the latest Annual Report on Form 10-K.
Company Contact:
Ultralife Corporation
Philip A. Fain
(315) 332-7100
pfain@ulbi.com
Investor Relations Contact:
LHA
Jody Burfening
(212) 838-3777
jburfening@lhai.com
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