SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): June 11, 1998
ULTRALIFE BATTERIES, INC.
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(Exact Name of Registrant as Specified in Its Charter)
DELAWARE 0-20852 16-1387013
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
1350 ROUTE 88 SOUTH, NEWARK, NEW YORK 14513
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(Address of Principal Executive Offices) (Zip Code)
(315) 332-7100
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(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On June 11, 1998, the Company issued a press release reporting that
the Company's fourth quarter financial results would not meet the Company's
expectations. A copy of the press release is attached to this Form 8-K as
Exhibit 99.01.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial statements of business acquired:
Not applicable.
(b) Pro forma financial information:
Not applicable.
(c) Exhibits:
99.01 Ultralife Batteries, Inc. Press Release dated
June 11, 1998.
S I G N A T U R E
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ULTRALIFE BATTERIES, INC.
Date: June 11, 1998 By: /s/ Frederick F. Drulard
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Frederick F. Drulard
Vice President, Finance
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<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
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99.01 Ultralife Batteries, Inc. Press Release dated June 11, 1998.
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Contact: Fred Drulard
Vice President, Finance
(315) 332-7100
ULTRALIFE BATTERIES, INC. SAYS FOURTH QUARTER RESULTS WILL NOT
MEET COMPANY'S EXPECTATIONS
Newark, NY - June 11, 1998
Ultralife Batteries, Inc. (NASDAQ: ULBI) announced today that results for the
Company's fourth quarter, which ends June 30, 1998, would not meet the Company's
expectations, and that earnings would be lower than the $0.15 per share loss
reported in the year-ago quarter. Ultralife expects to announce earnings for the
fourth quarter and fiscal year ending June 30, 1998, in late August.
While demand for the Company's 9-volt lithium battery is at an all-time high,
and the product will achieve record sales this fiscal year, manufacturing has
not been able to ramp up to planned production rates as quickly as anticipated.
As a result, the Company has incurred higher than anticipated production costs
and fallen short of anticipated revenues for the quarter. However, the necessary
corrective actions have been taken to accelerate production to the required
levels and improve efficiencies.
The Company continues to make progress producing advanced rechargeable batteries
on its new high-speed manufacturing line. However, the initial commercial
production and sales anticipated during the current quarter are now expected
early in fiscal 1999.
Ultralife Batteries, Inc. manufactures and markets a comprehensive line of
high-performance lithium batteries. The Company's primary lithium batteries are
used in a wide variety of consumer, industrial and military products. The
Company's advanced rechargeable batteries are being commercialized for notebook
computers, cellular telephones and many other portable electronic products. Key
customers include Coleman, Eveready, First Alert, Fyrnetics, Mitsubishi
Electronics America, Inc., Radio Shack and the national defense agencies of the
United States and the United Kingdom.
This document contains forward-looking statements based on current expectations.
Actual results could differ materially from those projected as a result of
various risks and uncertainties, including continued acceptance of and demand
for the Company's products and changes in customers' purchasing plans. A more
detailed description of such uncertainties is contained in the Company's filings
with the Securities and Exchange Commission, such as the Registration Statement
on Form S-3 which was declared effective April 30, 1998.
Detailed information on Ultralife is available at the Company's World Wide Web
site at HTTP://WWW.ULBI.COM
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