Ultralife Corporation Added to Russell 2000® Index
01 July 2024 - 9:00PM
Ultralife Corporation (NASDAQ: ULBI) has been added to the Russell
2000® Index and the broad market Russell 3000® Index as part of the
2024 annual reconstitution of the index, effective at the open of
the U.S. equity market today, July 1, 2024.
“The inclusion of Ultralife in the Russell 2000®
Index, one of the most widely used performance benchmarks for
small-cap companies, testifies to the substantial improvement in
the Company’s financial profile and earnings power as we began to
realize returns on our customer-driven new product investments and
to recapture margins while continuing to advance our
transformational projects for our commercial and government/defense
customers,” said Mike Manna, President and Chief Executive Officer.
“Being included in the Russell Index should enhance our visibility
with institutional investors seeking to hold companies in the
growing markets for power solutions and electronic systems as we
continue to build shareholder value through the delivery of
sustainable, profitable growth.”
Russell U.S. indexes are widely used by
investment managers and institutional investors for index funds and
benchmarks for active investment strategies. The annual
reconstitution of the Russell U.S. Indexes identified the 4,000
largest U.S. stocks as of April 30, 2024 ranked by total market
capitalization. Inclusion in the U.S. all-cap Russell
3000® Index remains in place for one year and also means that
Ultralife has been added to the small-cap Russell 2000® Index
as well as applicable growth and value style indexes. FTSE Russell
determines the composition of its Russell indexes primarily by
objective, market-capitalization rankings and other corporate
attributes.
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 uncertain
global economic conditions, reductions in revenues from key
customers, delays or reductions in U.S. and foreign military
spending, acceptance of our new products on a global basis, and
disruptions or delays in our supply of raw materials and components
due to business conditions, global conflicts, weather or other
factors not under our control. 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: |
Investor Relations Contact: |
Ultralife Corporation |
LHA |
Philip A. Fain |
Jody Burfening |
(315) 210-6110 |
(212) 838-3777 |
pfain@ulbi.com |
jburfening@lhai.com |
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