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Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) ( Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues $ 39,488 $ 33,234 $ 114,096 $ 95,733
Cost of products sold 29,714 26,519 86,298 74,414
Gross profit 9,774 6,715 27,798 21,319
Operating expenses:        
Research and development 1,869 1,896 5,679 5,425
Selling, general and administrative 5,770 5,405 16,293 15,982
Total operating expenses 7,639 7,301 21,972 21,407
Operating income (loss) 2,135 (586) 5,826 (88)
Other income (expense):        
Interest and financing expense (586) (272) (1,450) (583)
Miscellaneous income 200 526 1,628 605
Total other (expense) income (386) 254 178 22
Income (loss) before income taxes 1,749 (332) 6,004 (66)
Income tax provision (benefit) 446 (90) 1,688 (171)
Net income (loss) 1,303 (242) 4,316 105
Net loss attributable to non-controlling interest (27) (3) (8) 0
Net income (loss) attributable to Ultralife Corporation 1,330 (239) 4,324 105
Other comprehensive loss:        
Foreign currency translation adjustments (330) (1,691) (426) (3,189)
Comprehensive income (loss) attributable to Ultralife Corporation $ 1,000 $ (1,930) $ 3,898 $ (3,084)
Net income (loss) per share attributable to Ultralife common stockholders – basic (in dollars per share) $ 0.21 $ 0.03 $ 0.19 $ 0.02
Net income (loss) per share attributable to Ultralife common stockholders – diluted (in dollars per share) $ 0.21 $ 0.03 $ 0.19 $ 0.02
Weighted average shares outstanding – basic (in shares) 16,238 16,133 16,172 16,122
Potential common shares (in shares) 65 0 2 22
Weighted average shares outstanding - diluted (in shares) 16,303 16,133 16,174 16,144