Ultralife Receives $21 M SATCOM-On-The-Move System Orders(Newark, N.Y., May 14, 2010) -- Ultralife Corporation (NASDAQ: ULBI) has received orders valued at approximately $21 million for its SATCOM-On-The-Move systems from a U.S. defense contractor for use in MRAP armored vehicles. Deliveries are expected to begin this quarter and be completed in the fourth quarter of 2010.
"As one of the preferred vendors for critical defense communications systems, we are well positioned to benefit from ongoing demand by the U.S. military for SATCOM systems for use in various military vehicle programs. Because of this standing, our battle-tested, radio independent SATCOM systems have been once again selected for use in MRAP vehicles," said John D. Kavazanjian, president and chief executive officer. "These orders were not contemplated in our base line revenue plan for 2010 which called for revenue of $177 million. We will provide investors with an update on our outlook for 2010 operating profit and Adjusted EBITDA in our second quarter earnings call."
Your company’s press release on ASDNews and to thousands of other journalists and editors? Use our ASDWire press release distribution service.
Source : Ultralife Corporation
Nov 16 - 18, 2015 - Detroit, United States