Ultralife (ULBI) 10-Q 2 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jul. 01, 2018	Jul. 31, 2018
Document Information [Line Items]
Entity Registrant Name	Ultralife Corp
Entity Central Index Key	875,657
Trading Symbol	ulbi
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		15,945,777
Document Type	10-Q
Document Period End Date	Jul. 1, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017
Current assets:
Cash	$ 20,285	$ 18,241
Restricted Cash	464	89
Trade Accounts Receivable, Net of Allowance for Doubtful Accounts of $283 and $292, Respectively	15,468	14,657
Inventories, Net	24,861	26,326
Prepaid Expenses and Other Current Assets	2,445	2,603
Total Current Assets	63,523	61,916
Property, Equipment and Improvements, Net	8,056	7,570
Goodwill	20,322	20,458
Other Intangible Assets, Net	6,805	7,085
Deferred Income Taxes	32	32
Other Non-Current Assets	107	125
Total Assets	98,845	97,186
Current Liabilities:
Accounts Payable	6,656	8,787
Accrued Compensation and Related Benefits	1,711	2,413
Accrued Expenses and Other Current Liabilities	2,347	2,871
Income Taxes Payable	140	168
Total Current Liabilities	10,854	14,239
Deferred Income Taxes	3,891	3,867
Other Non-Current Liabilities	32	31
Total Liabilities	14,777	18,137
Commitments and Contingencies (Note 11)
Shareholders' Equity:
Preferred Stock – Par Value $.10 Per Share; Authorized 1,000,000 Shares; None Issued
Common Stock – Par Value $.10 Per Share; Authorized 40,000,000 Shares; Issued – 19,961,404 Shares at July 1, 2018 and 19,670,928 Shares at December 31, 2017; Outstanding – 15,941,693 Shares at July 1, 2018 and 15,651,217 Shares at December 31, 2017	1,996	1,966
Capital in Excess of Par Value	181,818	180,211
Accumulated Deficit	(79,117)	(82,894)
Accumulated Other Comprehensive Loss	(2,036)	(1,611)
Treasury Stock - At Cost; 4,019,711 Shares	(18,469)	(18,469)
Total Ultralife Corporation Equity	84,192	79,203
Non-Controlling Interest	(124)	(154)
Total Shareholders’ Equity	84,068	79,049
Total Liabilities and Shareholders' Equity	$ 98,845	$ 97,186

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017
Trade accounts receivable, allowance for doubtful accounts	$ 283	$ 292
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	19,961,404	19,670,928
Common stock, shares outstanding (in shares)	15,941,693	15,651,217
Treasury stock, shares (in shares)	4,019,711	4,019,711

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Revenues	$ 22,864	$ 19,939	$ 45,933	$ 41,974
Cost of products sold	16,314	13,718	32,101	28,863
Gross profit	6,550	6,221	13,832	13,111
Operating expenses:
Research and development	1,218	1,185	2,318	2,323
Selling, general and administrative	3,700	3,714	7,526	7,625
Total operating expenses	4,918	4,899	9,844	9,948
Operating income	1,632	1,322	3,988	3,163
Interest and financing expense	21	41	54	109
Miscellaneous	(107)	8	(6)	33
Income before income tax provision	1,718	1,273	3,940	3,021
Income tax provision	78	179	133	266
Net income	1,640	1,094	3,807	2,755
Net income attributable to non-controlling interest	13		30	6
Net income attributable to Ultralife Corporation	1,627	1,094	3,777	2,749
Other comprehensive (loss) income:
Foreign currency translation adjustments	(1,177)	494	(425)	753
Comprehensive income attributable to Ultralife Corporation	$ 450	$ 1,588	$ 3,352	$ 3,502
Net income per share attributable to Ultralife common shareholders – basic (in dollars per share)	$ 0.10	$ 0.07	$ 0.24	$ 0.18
Net income per share attributable to Ultralife common shareholders – diluted (in dollars per share)	$ 0.10	$ 0.07	$ 0.23	$ 0.17
Weighted average shares outstanding – basic (in shares)	15,922	15,510	15,813	15,461
Potential common shares (in shares)	598	340	541	291
Weighted average shares outstanding - diluted (in shares)	16,520	15,850	16,354	15,752

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017
OPERATING ACTIVITIES:
Net Income	$ 3,807	$ 2,755
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities:
Depreciation	980	1,010
Amortization of Intangible Assets	203	209
Amortization of Financing Fees	18	33
Stock-Based Compensation	344	396
Deferred Income Taxes	36	79
Changes in Operating Assets and Liabilities:
Accounts Receivable	(872)	(274)
Inventories	1,338	(904)
Prepaid Expenses and Other Assets	141	246
Accounts Payable and Other Liabilities	(4,177)	478
Net Cash Provided By Operating Activities	1,818	4,028
INVESTING ACTIVITIES:
Purchases of Property, Equipment and Improvements	(999)	(836)
Net Cash Used In Investing Activities	(999)	(836)
FINANCING ACTIVITIES:
Proceeds from Stock Option Exercise	1,293	989
Proceeds from Government Grant	397
Net Cash Provided By Financing Activities	1,690	989
Effect of Exchange Rate Changes on Cash	(90)	123
INCREASE IN CASH	2,419	4,304
Cash, Beginning of Period	18,330	10,629
Cash, End of Period	$ 20,749	$ 14,933

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. BASIS OF PRESENTATION The accompanying unaudited Consolidated Financial Statements of Ultralife Corporation (the “Company”) and its subsidiaries have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Rule 8 03 X. not not 10 December 31, 2017. The December 31, 2017 not Our monthly closing schedule is a 4/4/5 not

Note 2 - Revenues

Note 2 - Revenues	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. REVENUES Effective January 1, 2018, 2014 09 606 606 not no Revenue Recognition Revenues are generated from the sale of products. Performance obligations are met and revenue is recognized upon transfer of control to the customer, which is generally upon shipment. When contract terms require transfer of control upon delivery at a customer’s location, revenue is recognized on the date of delivery. Revenue is measured as the amount of consideration we expect to receive in exchange for shipped product. Sales, value add and other taxes billed and collected from customers are excluded from revenue. Customers, including distributors, do not no Revenues recognized from prior period performance obligations for the three six July 1, 2018 not As of July 1, 2018, no one 606, Deferred revenue, unbilled revenue and deferred contract costs recorded on our Consolidated Balance Sheets as of July 1, 2018 December 31, 2017 not Accounts Receivable We extend credit to our customers in the normal course of business. We perform ongoing credit evaluations and generally do not 30 Sales Commissions Sales commissions are expensed as incurred for contracts with an expected duration of one no July 1, 2018. Shipping and Handling Costs Costs incurred by us related to shipping and handling are included in cost of products sold. Amounts charged to customers pertaining to these costs are reflected as revenue. Product Warranties We generally offer warranties against product defects. Costs incurred to service warranty claims are recorded as costs of products sold. We provide for potential warranty costs based on historical experience. Provision for warranty costs is recorded in other current liabilities and other long-term liabilities as applicable on our Consolidated Balance Sheets. The Company does not See Note 12

Note 3 - Cash

Note 3 - Cash	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	3. CASH The Company had cash and restricted cash totaling $20,749 $18,330 July 1, 2018 December 31, 2017, July 1, December 31, 2018 2017 Cash $ 20,285 $ 18,241 Restricted Cash 464 89 Total $ 20,749 $ 18,330 Restricted cash at July 1, 2018 No July 1, 2018. third

Note 4 - Inventories

Note 4 - Inventories	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Inventory Disclosure [Text Block]	4. INVENTORIES Inventories are stated at the lower of cost or market, net of obsolescence reserves, with cost determined under the first first July 1 , December 31, 2018 2017 Raw Materials $ 13,739 $ 14,606 Work In Process 2,337 2,013 Finished Goods 8,785 9,707 Total $ 24,861 $ 26,326

Note 5 - Property, Equipment an

Note 5 - Property, Equipment and Improvements	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	5. PROPERTY, EQUIPMENT AND IMPROVEMENTS Major classes of property, equipment and improvements consisted of the following: July 1 , December 31, 2018 2017 Land $ 123 $ 123 Buildings and Leasehold Improvements 7,858 7,858 Machinery and Equipment 51,121 50,852 Furniture and Fixtures 1,997 2,005 Computer Hardware and Software 5,461 5,338 Construction In Process 1,550 535 68,110 66,711 Less: Accumulated Depreciation (60,054 ) (59,141 ) Property, Equipment and Improvements, Net $ 8,056 $ 7,570 Depreciation expense for property, equipment and improvements was as follows: Three-month periods ended Six-month periods ended July 1 , July 2 , July 1 , July 2 , 2018 2017 2018 2017 Depreciation expense $ 496 $ 507 $ 980 $ 1,010

Note 6 - Goodwill, Intangible A

Note 6 - Goodwill, Intangible Assets and Long Term Assets	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	6. GOODWILL, INTANGIBLE ASSETS AND LONG TERM ASSETS a. Goodwill The following table summarizes the goodwill activity by segment for the six July 1, 2018 July 2, 2017: Battery & Energy Communi- cations Products Systems Total Balance - December 31, 2016 $ 8,472 $ 11,493 $ 19,965 Effect of Foreign Currency Translation 258 - 258 Balance – July 2, 2017 8,730 11,493 20,223 Effect of Foreign Currency Translation 235 - 235 Balance - December 31, 2017 8,965 11,493 20,458 Effect of Foreign Currency Translation (136 ) - (136 ) Balance – July 1, 2018 $ 8,829 $ 11,493 $ 20,322 b. Other Intangible Assets The composition of other intangible assets was: at July 1, 2018 Accumulated Cost A mortization Net Trademarks $ 3,410 $ - $ 3,410 Customer Relationships 6,555 4,305 2,250 Patents and Technology 5,520 4,662 858 Distributor Relationships 377 377 - Trade Name 383 96 287 Total Other Intangible Assets $ 16,245 $ 9,440 $ 6,805 at December 31, 2017 Accumulated Cost A mortization Net Trademarks $ 3,411 $ - $ 3,411 Customer Relationships 6,618 4,208 2,410 Patents and Technology 5,545 4,595 950 Distributor Relationships 377 377 - Trade Name 393 79 314 Total Other Intangible Assets $ 16,344 $ 9,259 $ 7,085 Amortization expense for intangible assets was as follows: Three-month periods ended Six-month periods ended July 1 , July 2 , July 1 , July 2 , 2018 2017 2018 2017 Amortization included in: Research and development $ 37 $ 41 $ 75 $ 81 Selling, general and administrative 64 63 128 128 Total amortization expense $ 101 $ 104 $ 203 $ 209 The decrease in the cost value of total other intangible assets from December 31, 2017 July 1, 2018 $99

Note 7 - Revolving Credit Agree

Note 7 - Revolving Credit Agreement	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	7. REVOLVING CREDIT AGREEMENT Credit Facilities On May 31, 2017, $30,000 $1,500 may $50,000 six May 30, 2020. May 24, 2017 ( The Credit Facility provides the Company with an aggregate of up to $30,000 may no not Interest will accrue on outstanding indebtedness under the Credit Agreement at the Overnight LIBOR Rate plus the applicable margin, or at the Base Rate plus the applicable margin, as selected by the Company. During the period beginning May 31, 2017 April 1, 2018, 185 50 20 April 2, 2018 Consolidated Senior Leverage Ratio Applicable Basis Points for Overnight LIBOR Loans Applicable Basis Points for Base Rate Loans Applicable Basis Points for Unused Fee Less than 1.50 to 1.00 185 (50) 20 Greater than or equal to 1.50 to 1.00 but less than 2.50 to 1.00 200 (25) 15 Greater than or equal to 2.50 to 1.00 215 0 10 The Company must pay a fee on its unused availability equal to the applicable margin for the Unused Fee and customary letter of credit fees. In addition to the affirmative and negative covenants, the Company must maintain a fixed charge coverage ratio of 1.15 1.0, four $40,000, July 1, 2018. Any outstanding borrowings must be repaid upon expiration of the term of the Credit Facility. Payments must be made during the term to the extent outstanding borrowings exceed the maximum amount then permitted to be drawn as borrowings under the Credit Facility and from the proceeds of certain transactions. Upon the occurrence of an event of default, the outstanding obligations of the Company under the Credit Facility may As of July 1, 2018, no no

Note 8 - Shareholders' Equity

Note 8 - Shareholders' Equity	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Shareholders' Equity and Share-based Payments [Text Block]	8. SHAREHOLDERS’ EQUITY We recorded non-cash stock compensation expense in each period as follows: Three-month periods ended Six-month periods ended July 1 , July 2 , July 1 , July 2 , 2018 2017 2018 2017 Stock Options $ 186 $ 352 $ 309 $ 388 Restricted Stock Grants 19 4 35 8 Total $ 205 $ 356 $ 344 $ 396 We have stock options outstanding from various stock-based employee compensation plans for which we record compensation cost relating to share-based payment transactions in our financial statements. As of July 1, 2018, $844 1.4 The following table summarizes stock option activity for the six July 1, 2018: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at January 1, 2018 1,860,211 $ 6.10 Granted 216,500 9.68 Exercised (290,476 ) 4.56 Forfeited or Expired (116,199 ) 11.53 Outstanding at July 1, 2018 1,670,036 $ 6.45 3.86 $ 5,886 Vested and Expected to Vest at July 1, 2018 1,563,589 $ 6.43 3.72 $ 5,584 Exercisable at July 1, 2018 981,556 $ 4.86 3.02 $ 4,648 The following assumptions were used to value stock options granted during the six July 1, 2018: Risk-Free Interest Rate 2.6 % Volatility Factor 47 % Weighted Average Expected Life (Years) 5 Dividends 0.0 % The weighted average grant date fair value of options granted during the six July 1, 2018 $4.22. On July 25, 2018, 2004 200,000 $10.00, first $10.00 15 30 December 30, 2020. 718, third 2018 $182, FASB’s guidance for share-based payments requires cash flows from excess tax benefits to be classified as a part of cash flows from financing activities. Excess tax benefits are realized tax benefits from tax deductions for exercised stock options in excess of the deferred tax asset attributable to stock compensation costs for such stock options. We did not first six 2018 2017. Cash received from stock option exercises under our stock-based compensation plans for the three July 1, 2018 July 2, 2017 $354 $248, six July 1, 2018 July 2, 2017 $1,293 $989, In January 2018, 17,500 three $7.16 $91 July 1, 2018.

Note 9 - Income Taxes

Note 9 - Income Taxes	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. INCOME TAXES On December 22, 2017, not 1 35 21 2 3 December 31, 2017; ( 4 December 31, 2017; 5 The Act provided for a one 1986 December 31, 2017. not On December 22, 2017, No. 118 not July 1, 2018, may July 2018, not not not For the three July 1, 2018 July 2, 2017, $78 $179, six July 1, 2018 July 2, 2017, $133 $266, Three-month periods ended Six-month periods ended July 1 , July 2 , July 1 , July 2 , 2018 2017 2018 2017 Current Income Tax Provision: Foreign $ 57 $ 130 $ 89 $ 151 Federal 0 6 0 28 State 4 3 8 8 Deferred Income Tax Provision 17 40 36 79 Total $ 78 $ 179 $ 133 $ 266 The deferred income tax benefit for 2018 2017 2018 2017 Our effective consolidated tax rates for the six July 1, 2018 July 2, 2017 Six -Month P erio ds E nded July 1, July 2 , 2018 2017 Income Before Income Taxes $ 3,940 $ 3,021 Income Tax Provision 133 266 Effective Income Tax Rate 3.4 % 8.8 % In 2018 2017, may not not July 1, 2018. 2018 2017, not not As of December 31, 2017, $69,594 $12,760, $1,837, $12,760, $69,594 2019 2034. As of July 1, 2018, There were no July 1, 2018 December 31, 2017. As a result of our operations, we file income tax returns in various jurisdictions including U.S. federal, U.S. state and foreign jurisdictions. We are routinely subject to examination by taxing authorities in these various jurisdictions. Our U.S. tax matters for the years 2002 2017 2009 2017

Note 10 - Earnings Per Share

Note 10 - Earnings Per Share	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	10. EARNINGS PER SHARE Basic earnings per share (“EPS”) is computed by dividing earnings attributable to the Company’s common shareholders by the weighted-average shares outstanding during the period. Diluted EPS includes the dilutive effect of securities, if any, and is calculated using the treasury stock method. For the three July 1, 2018, 1,268,286 17,500 598,061 three July 2, 2017, 1,055,097 13,400 339,705 six July 1, 2018 July 2, 2017, 1,254,286 1,055,097 17,500 13,400 540,836 291,062 There were 401,750 1,060,916 three July 1, 2018 July 2, 2017, not 415,750 1,060,916 six July 1, 2018 July 2, 2017, not

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11. COMMITMENTS AND CONTINGENCIES a. Purchase Commitments As of July 1, 2018, $2,381 b. Product Warranties We estimate future costs associated with expected product failure rates, material usage and service costs in the development of our warranty obligations. Warranty reserves are based on historical experience of warranty claims and generally will be estimated as a percentage of sales over the warranty period. In the event the actual results of these items differ from the estimates, an adjustment to the warranty obligation would be recorded. Changes in our product warranty liability during the first six 2018 2017 Six -Month P eriod s E nded July 1 , 2018 July 2 , 2017 Accrued Warranty Obligations – Beginning $ 149 $ 172 Accruals for Warranties Issued 7 29 Settlements Made (5 ) (38 ) Accrued Warranty Obligations – Ending $ 151 $ 163 c. Contingencies and Legal Matters We are subject to legal proceedings and claims that arise from time to time in the normal course of business. We believe that the final disposition of such matters will not Dreamliner Litigation In July 2013, 787 2001, On May 4, 2015, 2013 This lawsuit has now been resolved ( February 2018),

Note 12 - Business Segment Info

Note 12 - Business Segment Information	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	12. BUSINESS SEGMENT INFORMATION We report our results in two 9 The components of segment performance were as follows: Three-Month Period Ended July 1, 2018 : Battery & Energy Products Communi- cations Systems Corporate Total Revenues $ 17,831 $ 5,033 $ - $ 22,864 Segment Contribution 4,926 1,624 (4,918 ) 1,632 Interest, Financing and Miscellaneous Income, Net 86 86 Tax Provision (78 ) (78 ) Non-Controlling Interest (13 ) (13 ) Net Income Attributable to Ultralife $ 1,627 Three-Month Period Ended July 2, 201 7 : Battery & Energy Products Communi- cations Systems Corporate Total Revenues $ 16,880 $ 3,059 $ - $ 19,939 Segment Contribution 4,741 1,480 (4,899 ) 1,322 Interest, Financing and Miscellaneous Expense, Net (49 ) (49 ) Tax Provision (179 ) (179 ) Non-Controlling Interest - - Net Income Attributable to Ultralife $ 1,094 Six-Month Period Ended July 1, 2018 : Battery & Energy Products Communi- cations Systems Corporate Total Revenues $ 35,055 $ 10,878 $ - $ 45,933 Segment Contribution 9,962 3,870 (9,844 ) 3,988 Interest, Financing and Miscellaneous Expense, Net (48 ) (48 ) Tax Provision (133 ) (133 ) Non-Controlling Interest (30 ) (30 ) Net Income Attributable to Ultralife $ 3,777 Six-Month Period Ended July 2, 2017 : Battery & Energy Products Communi- cations Systems Corporate Total Revenues $ 34,359 $ 7,615 $ - $ 41,974 Segment Contribution 9,671 3,440 (9,948 ) 3,163 Interest, Financing and Miscellaneous Expense, Net (142 ) (142 ) Tax Provision (266 ) (266 ) Non-Controlling Interest (6 ) (6 ) Net Income Attributable to Ultralife $ 2,749 The following tables disaggregate our business segment revenues by major source and geography. Commercial and Government/Defense Revenue Information: Three-Month Period Ended July 1, 2018: Total Revenue Commercial Government/ Defense Battery & Energy Products $ 17,831 $ 10,254 $ 7,577 Communications Systems 5,033 - 5,033 Total $ 22,864 $ 10,254 $ 12,610 45 % 55 % Three-Month Period Ended July 2, 2017: Total Revenue Commercial Government/ Defense Battery & Energy Products $ 16,880 $ 10,818 $ 6,062 Communications Systems 3,059 - 3,059 Total $ 19,939 $ 10,818 $ 9,121 54 % 46 % Six-Month Period Ended July 1, 2018: Total Revenue Commercial Government/ Defense Battery & Energy Products $ 35,055 $ 19,880 $ 15,175 Communications Systems 10,878 - 10,878 Total $ 45,933 $ 19,880 $ 26,053 43 % 57 % Six-Month Period Ended July 2, 2017: Total Revenue Commercial Government/ Defense Battery & Energy Products $ 34,359 $ 20,170 $ 14,189 Communications Systems 7,615 - 7,615 Total $ 41,974 $ 20,170 $ 21,804 48 % 52 % U.S. and Non-U.S. Revenue Information 1 : Three-Month Period Ended July 1, 2018: Total Revenue United States Non-United States Battery & Energy Products $ 17,831 $ 10,647 $ 7,184 Communications Systems 5,033 5,033 - Total $ 22,864 $ 15,680 $ 7,184 69 % 31 % Three-Month Period Ended July 2, 2017: Total Revenue United States Non-United States Battery & Energy Products $ 16,880 $ 7,248 $ 9,632 Communications Systems 3,059 2,789 270 Total $ 19,939 $ 10,037 $ 9,902 50 % 50 % Six-Month Period Ended July 1, 2018: Total Revenue United States Non-United States Battery & Energy Products $ 35,055 $ 20,062 $ 14,993 Communications Systems 10,878 10,606 272 Total $ 45,933 $ 30,668 $ 15,265 67 % 33 % Six-Month Period Ended July 2, 2017: Total Revenue United States Non-United States Battery & Energy Products $ 34,359 $ 16,665 $ 17,694 Communications Systems 7,615 7,257 358 Total $ 41,974 $ 23,922 $ 18,052 57 % 43 % 1 may

Note 13 - Recent Accounting Pro

Note 13 - Recent Accounting Pronouncements and Developments	6 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	13. RECENT ACCOUNTING PRONOUNCEMENTS AND DEVELOPMENTS In May 2014, 2014 09 606 606 December 15, 2017, 606 January 1, 2018. 2 In November 2016, 2016 18, 230 December 31, 2017, January 1, 2018. In August 2016, 2016 15, 230 eight December 15, 2017, January 1, 2018. not In May 2017, 2017 09, 718 718. December 15, 2017 January 1, 2018. not There have been no 2017 10 In March 2018, 2018 05, 740 No. 118”. December 2017 No. 118, 118” 118 118 118. July 1, 2018 December 31, 2017.

Note 3 - Cash (Tables)

Note 3 - Cash (Tables)	6 Months Ended
	Jul. 01, 2018
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	July 1, December 31, 2018 2017 Cash $ 20,285 $ 18,241 Restricted Cash 464 89 Total $ 20,749 $ 18,330

Note 4 - Inventories (Tables)

Note 4 - Inventories (Tables)	6 Months Ended
	Jul. 01, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	July 1 , December 31, 2018 2017 Raw Materials $ 13,739 $ 14,606 Work In Process 2,337 2,013 Finished Goods 8,785 9,707 Total $ 24,861 $ 26,326

Note 5 - Property, Equipment 21

Note 5 - Property, Equipment and Improvements (Tables)	6 Months Ended
	Jul. 01, 2018
Notes Tables
Property, Plant and Equipment [Table Text Block]	July 1 , December 31, 2018 2017 Land $ 123 $ 123 Buildings and Leasehold Improvements 7,858 7,858 Machinery and Equipment 51,121 50,852 Furniture and Fixtures 1,997 2,005 Computer Hardware and Software 5,461 5,338 Construction In Process 1,550 535 68,110 66,711 Less: Accumulated Depreciation (60,054 ) (59,141 ) Property, Equipment and Improvements, Net $ 8,056 $ 7,570 Three-month periods ended Six-month periods ended July 1 , July 2 , July 1 , July 2 , 2018 2017 2018 2017 Depreciation expense $ 496 $ 507 $ 980 $ 1,010

Note 6 - Goodwill, Intangible22

Note 6 - Goodwill, Intangible Assets and Long Term Assets (Tables)	6 Months Ended
	Jul. 01, 2018
Notes Tables
Schedule of Goodwill [Table Text Block]	Battery & Energy Communi- cations Products Systems Total Balance - December 31, 2016 $ 8,472 $ 11,493 $ 19,965 Effect of Foreign Currency Translation 258 - 258 Balance – July 2, 2017 8,730 11,493 20,223 Effect of Foreign Currency Translation 235 - 235 Balance - December 31, 2017 8,965 11,493 20,458 Effect of Foreign Currency Translation (136 ) - (136 ) Balance – July 1, 2018 $ 8,829 $ 11,493 $ 20,322
Schedule of Finite-Lived Intangible Assets [Table Text Block]	at July 1, 2018 Accumulated Cost A mortization Net Trademarks $ 3,410 $ - $ 3,410 Customer Relationships 6,555 4,305 2,250 Patents and Technology 5,520 4,662 858 Distributor Relationships 377 377 - Trade Name 383 96 287 Total Other Intangible Assets $ 16,245 $ 9,440 $ 6,805 at December 31, 2017 Accumulated Cost A mortization Net Trademarks $ 3,411 $ - $ 3,411 Customer Relationships 6,618 4,208 2,410 Patents and Technology 5,545 4,595 950 Distributor Relationships 377 377 - Trade Name 393 79 314 Total Other Intangible Assets $ 16,344 $ 9,259 $ 7,085
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	Three-month periods ended Six-month periods ended July 1 , July 2 , July 1 , July 2 , 2018 2017 2018 2017 Amortization included in: Research and development $ 37 $ 41 $ 75 $ 81 Selling, general and administrative 64 63 128 128 Total amortization expense $ 101 $ 104 $ 203 $ 209

Note 7 - Revolving Credit Agr23

Note 7 - Revolving Credit Agreement (Tables)	6 Months Ended
	Jul. 01, 2018
Notes Tables
Interest Rate Margins on Outstanding Debt [Table Text Block]	Consolidated Senior Leverage Ratio Applicable Basis Points for Overnight LIBOR Loans Applicable Basis Points for Base Rate Loans Applicable Basis Points for Unused Fee Less than 1.50 to 1.00 185 (50) 20 Greater than or equal to 1.50 to 1.00 but less than 2.50 to 1.00 200 (25) 15 Greater than or equal to 2.50 to 1.00 215 0 10

Note 8 - Shareholders' Equity (

Note 8 - Shareholders' Equity (Tables)	6 Months Ended
	Jul. 01, 2018
Notes Tables
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Three-month periods ended Six-month periods ended July 1 , July 2 , July 1 , July 2 , 2018 2017 2018 2017 Stock Options $ 186 $ 352 $ 309 $ 388 Restricted Stock Grants 19 4 35 8 Total $ 205 $ 356 $ 344 $ 396
Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at January 1, 2018 1,860,211 $ 6.10 Granted 216,500 9.68 Exercised (290,476 ) 4.56 Forfeited or Expired (116,199 ) 11.53 Outstanding at July 1, 2018 1,670,036 $ 6.45 3.86 $ 5,886 Vested and Expected to Vest at July 1, 2018 1,563,589 $ 6.43 3.72 $ 5,584 Exercisable at July 1, 2018 981,556 $ 4.86 3.02 $ 4,648
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Risk-Free Interest Rate 2.6 % Volatility Factor 47 % Weighted Average Expected Life (Years) 5 Dividends 0.0 %

Note 9 - Income Taxes (Tables)

Note 9 - Income Taxes (Tables)	6 Months Ended
	Jul. 01, 2018
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Three-month periods ended Six-month periods ended July 1 , July 2 , July 1 , July 2 , 2018 2017 2018 2017 Current Income Tax Provision: Foreign $ 57 $ 130 $ 89 $ 151 Federal 0 6 0 28 State 4 3 8 8 Deferred Income Tax Provision 17 40 36 79 Total $ 78 $ 179 $ 133 $ 266
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Six -Month P erio ds E nded July 1, July 2 , 2018 2017 Income Before Income Taxes $ 3,940 $ 3,021 Income Tax Provision 133 266 Effective Income Tax Rate 3.4 % 8.8 %

Note 11 - Commitments and Con26

Note 11 - Commitments and Contingencies (Tables)	6 Months Ended
	Jul. 01, 2018
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Six -Month P eriod s E nded July 1 , 2018 July 2 , 2017 Accrued Warranty Obligations – Beginning $ 149 $ 172 Accruals for Warranties Issued 7 29 Settlements Made (5 ) (38 ) Accrued Warranty Obligations – Ending $ 151 $ 163

Note 12 - Business Segment In27

Note 12 - Business Segment Information (Tables)	6 Months Ended
	Jul. 01, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Battery & Energy Products Communi- cations Systems Corporate Total Revenues $ 17,831 $ 5,033 $ - $ 22,864 Segment Contribution 4,926 1,624 (4,918 ) 1,632 Interest, Financing and Miscellaneous Income, Net 86 86 Tax Provision (78 ) (78 ) Non-Controlling Interest (13 ) (13 ) Net Income Attributable to Ultralife $ 1,627 Battery & Energy Products Communi- cations Systems Corporate Total Revenues $ 16,880 $ 3,059 $ - $ 19,939 Segment Contribution 4,741 1,480 (4,899 ) 1,322 Interest, Financing and Miscellaneous Expense, Net (49 ) (49 ) Tax Provision (179 ) (179 ) Non-Controlling Interest - - Net Income Attributable to Ultralife $ 1,094 Battery & Energy Products Communi- cations Systems Corporate Total Revenues $ 35,055 $ 10,878 $ - $ 45,933 Segment Contribution 9,962 3,870 (9,844 ) 3,988 Interest, Financing and Miscellaneous Expense, Net (48 ) (48 ) Tax Provision (133 ) (133 ) Non-Controlling Interest (30 ) (30 ) Net Income Attributable to Ultralife $ 3,777 Battery & Energy Products Communi- cations Systems Corporate Total Revenues $ 34,359 $ 7,615 $ - $ 41,974 Segment Contribution 9,671 3,440 (9,948 ) 3,163 Interest, Financing and Miscellaneous Expense, Net (142 ) (142 ) Tax Provision (266 ) (266 ) Non-Controlling Interest (6 ) (6 ) Net Income Attributable to Ultralife $ 2,749
Revenue from External Customers by Geographic Areas [Table Text Block]	Three-Month Period Ended July 1, 2018: Total Revenue Commercial Government/ Defense Battery & Energy Products $ 17,831 $ 10,254 $ 7,577 Communications Systems 5,033 - 5,033 Total $ 22,864 $ 10,254 $ 12,610 45 % 55 % Three-Month Period Ended July 2, 2017: Total Revenue Commercial Government/ Defense Battery & Energy Products $ 16,880 $ 10,818 $ 6,062 Communications Systems 3,059 - 3,059 Total $ 19,939 $ 10,818 $ 9,121 54 % 46 % Six-Month Period Ended July 1, 2018: Total Revenue Commercial Government/ Defense Battery & Energy Products $ 35,055 $ 19,880 $ 15,175 Communications Systems 10,878 - 10,878 Total $ 45,933 $ 19,880 $ 26,053 43 % 57 % Six-Month Period Ended July 2, 2017: Total Revenue Commercial Government/ Defense Battery & Energy Products $ 34,359 $ 20,170 $ 14,189 Communications Systems 7,615 - 7,615 Total $ 41,974 $ 20,170 $ 21,804 48 % 52 %
Schedule of Revenues from External Customers by Business Segment Sector [Table Text Block]	Three-Month Period Ended July 1, 2018: Total Revenue United States Non-United States Battery & Energy Products $ 17,831 $ 10,647 $ 7,184 Communications Systems 5,033 5,033 - Total $ 22,864 $ 15,680 $ 7,184 69 % 31 % Three-Month Period Ended July 2, 2017: Total Revenue United States Non-United States Battery & Energy Products $ 16,880 $ 7,248 $ 9,632 Communications Systems 3,059 2,789 270 Total $ 19,939 $ 10,037 $ 9,902 50 % 50 % Six-Month Period Ended July 1, 2018: Total Revenue United States Non-United States Battery & Energy Products $ 35,055 $ 20,062 $ 14,993 Communications Systems 10,878 10,606 272 Total $ 45,933 $ 30,668 $ 15,265 67 % 33 % Six-Month Period Ended July 2, 2017: Total Revenue United States Non-United States Battery & Energy Products $ 34,359 $ 16,665 $ 17,694 Communications Systems 7,615 7,257 358 Total $ 41,974 $ 23,922 $ 18,052 57 % 43 %

Note 3 - Cash (Details Textual)

Note 3 - Cash (Details Textual) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017	Jul. 02, 2017	Dec. 31, 2016
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance	$ 20,749	$ 18,330	$ 14,933	$ 10,629

Note 3 - Cash - Summary of Cash

Note 3 - Cash - Summary of Cash (Details) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017	Jul. 02, 2017	Dec. 31, 2016
Cash	$ 20,285	$ 18,241
Restricted Cash	464	89
Total	$ 20,749	$ 18,330	$ 14,933	$ 10,629

Note 4 - Inventories - Composit

Note 4 - Inventories - Composition of Inventories (Details) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017
Raw Materials	$ 13,739	$ 14,606
Work In Process	2,337	2,013
Finished Goods	8,785	9,707
Total	$ 24,861	$ 26,326

Note 5 - Property, Equipment 31

Note 5 - Property, Equipment and Improvements - Major Classes of Property, Equipment and Improvements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017	Dec. 31, 2017
Property, equipment and improvements	$ 68,110		$ 68,110		$ 66,711
Less: Accumulated Depreciation	(60,054)		(60,054)		(59,141)
Property, Equipment and Improvements, Net	8,056		8,056		7,570
Depreciation expense	496	$ 507	980	$ 1,010
Land [Member]
Property, equipment and improvements	123		123		123
Building and Building Improvements [Member]
Property, equipment and improvements	7,858		7,858		7,858
Machinery and Equipment [Member]
Property, equipment and improvements	51,121		51,121		50,852
Furniture and Fixtures [Member]
Property, equipment and improvements	1,997		1,997		2,005
Computer Equipment [Member]
Property, equipment and improvements	5,461		5,461		5,338
Construction in Progress [Member]
Property, equipment and improvements	$ 1,550		$ 1,550		$ 535

Note 6 - Goodwill, Intangible32

Note 6 - Goodwill, Intangible Assets and Long Term Assets (Details Textual) $ in Thousands	6 Months Ended
	Jul. 01, 2018USD ($)
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	$ (99)

Note 6 - Goodwill, Intangible33

Note 6 - Goodwill, Intangible Assets and Long Term Assets - Goodwill Activity by Segment (Details) - USD ($) $ in Thousands	6 Months Ended		9 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Dec. 31, 2017
Balance	$ 20,458	$ 19,965
Effect of Foreign Currency Translation	(136)	258	$ 235
Balance	20,322	20,223	20,458
Battery & Energy Products Segment [Member]
Balance	8,965	8,472
Effect of Foreign Currency Translation	(136)	258	235
Balance	8,829	8,730	8,965
Communications Systems Segment [Member]
Balance	11,493	11,493
Effect of Foreign Currency Translation
Balance	$ 11,493	$ 11,493	$ 11,493

Note 6 - Goodwill, Intangible34

Note 6 - Goodwill, Intangible Assets and Long Term Assets - Composition of Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017
Cost	$ 16,245	$ 16,344
Accumulated Amortization	9,440	9,259
Net	6,805	7,085
Trademarks [Member]
Cost	3,410	3,411
Accumulated Amortization
Net	3,410	3,411
Customer Relationships [Member]
Cost	6,555	6,618
Accumulated Amortization	4,305	4,208
Net	2,250	2,410
Patents and Technology [Member]
Cost	5,520	5,545
Accumulated Amortization	4,662	4,595
Net	858	950
Distributor Relationships [Member]
Cost	377	377
Accumulated Amortization	377	377
Net
Trade Names [Member]
Cost	383	393
Accumulated Amortization	96	79
Net	$ 287	$ 314

Note 6 - Goodwill, Intangible35

Note 6 - Goodwill, Intangible Assets and Long Term Assets - Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Amortization of Intangible Assets	$ 101	$ 104	$ 203	$ 209
Research and Development Expense [Member]
Amortization of Intangible Assets	37	41	75	81
Selling, General and Administrative Expenses [Member]
Amortization of Intangible Assets	$ 64	$ 63	$ 128	$ 128

Note 7 - Revolving Credit Agr36

Note 7 - Revolving Credit Agreement (Details Textual) $ in Thousands	May 31, 2017USD ($)	Jul. 01, 2018USD ($)	Apr. 01, 2018
KeyBank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 30,000
Line of Credit Facility Maximum Borrowing Capacity May Be Increased to	50,000
Long-term Line of Credit, Total		$ 0
Minimum Fixed Charge Coverage Ratio		1.15
Minimum Tangible Net Worth		$ 40,000
Letters of Credit Outstanding, Amount		0
KeyBank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			1.85%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.20%
KeyBank [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			(0.50%)
KeyBank [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,500
PNC Bank [Member] | Revolving Credit Facility [Member]
Long-term Line of Credit, Total		$ 0

Note 7 - Revolving Credit Agr37

Note 7 - Revolving Credit Agreement - Interest Rate Margins (Details) - KeyBank [Member] - Revolving Credit Facility [Member]	10 Months Ended	26 Months Ended
	Apr. 01, 2018	May 30, 2020
Scenario, Forecast [Member] | Leverage Ratio Less Than 1.5 [Member]
Applicable basis points for unused fee		0.20%
Scenario, Forecast [Member] | Leverage Ratio Between 1.5 and 2.5 [Member]
Applicable basis points for unused fee		0.15%
Scenario, Forecast [Member] | Leverage Ratio Greater than 2.5 [Member]
Applicable basis points for unused fee		0.10%
London Interbank Offered Rate (LIBOR) [Member]
Interest rate margin on outstanding borrowings	1.85%
Applicable basis points for unused fee	0.20%
London Interbank Offered Rate (LIBOR) [Member] | Scenario, Forecast [Member] | Leverage Ratio Less Than 1.5 [Member]
Interest rate margin on outstanding borrowings		1.85%
London Interbank Offered Rate (LIBOR) [Member] | Scenario, Forecast [Member] | Leverage Ratio Between 1.5 and 2.5 [Member]
Interest rate margin on outstanding borrowings		2.00%
London Interbank Offered Rate (LIBOR) [Member] | Scenario, Forecast [Member] | Leverage Ratio Greater than 2.5 [Member]
Interest rate margin on outstanding borrowings		2.15%
Base Rate [Member]
Interest rate margin on outstanding borrowings	(0.50%)
Base Rate [Member] | Scenario, Forecast [Member] | Leverage Ratio Less Than 1.5 [Member]
Interest rate margin on outstanding borrowings		(0.50%)
Base Rate [Member] | Scenario, Forecast [Member] | Leverage Ratio Between 1.5 and 2.5 [Member]
Interest rate margin on outstanding borrowings		(0.25%)
Base Rate [Member] | Scenario, Forecast [Member] | Leverage Ratio Greater than 2.5 [Member]
Interest rate margin on outstanding borrowings		0.00%

Note 8 - Shareholders' Equity38

Note 8 - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jul. 25, 2018	Jan. 31, 2018	Sep. 30, 2018	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options				$ 844		$ 844
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						1 year 146 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value						$ 4.22
Excess Tax Benefit from Share-based Compensation, Financing Activities						$ 0	$ 0
Proceeds from Stock Options Exercised				354	$ 248	1,293	$ 989
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 7.16
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options				$ 91		$ 91
The 2004 Long-term Incentive Plan [Member] | President [Member] | Scenario, Forecast [Member]
Share-based Compensation Arrangement by Share-based Payment Award Accelerated Compensation Cost			$ 182
The 2014 Long-term Incentive Plan [Member] | Restricted Stock [Member]
Stock Issued During Period, Shares, Restricted Stock Award, Gross		17,500
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Subsequent Event [Member] | The 2004 Long-term Incentive Plan [Member] | President [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number	200,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Accelerated Vesting, Weighted Average Grant Date Fair Value	$ 10
Option Accelerated Vesting, Stock Price Trigger	$ 10
Option Accelerated Vesting, Threshold Trading Days	15 days

Note 8 - Shareholders' Equity -

Note 8 - Shareholders' Equity - Non-cash Stock Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Stock-based comepensation expense	$ 205	$ 356	$ 344	$ 396
Employee Stock Option [Member]
Stock-based comepensation expense	186	352	309	388
Restricted Stock [Member]
Stock-based comepensation expense	$ 19	$ 4	$ 35	$ 8

Note 8 - Shareholders' Equity40

Note 8 - Shareholders' Equity - Stock Option Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jul. 01, 2018USD ($)$ / sharesshares
Options outstanding (in shares) | shares	1,860,211
Options outstanding - weighted average exercise price (in dollars per share) | $ / shares	$ 6.10
Granted (in shares) | shares	216,500
Granted - weighted average exercise price (in dollars per share) | $ / shares	$ 9.68
Exercised (in shares) | shares	(290,476)
Exercised - weighted average exercise price (in dollars per share) | $ / shares	$ 4.56
Forfeited or Expired (in shares) | shares	(116,199)
Forfeited or expired - weighted average exercise price (in dollars per share) | $ / shares	$ 11.53
Options outstanding (in shares) | shares	1,670,036
Options outstanding - weighted average exercise price (in dollars per share) | $ / shares	$ 6.45
Options outstanding - weighted average remaining contractual term (Year)	3 years 313 days
Options outstanding - aggregate intrinsic value | $	$ 5,886
Vested and Expected to Vest (in shares) | shares	1,563,589
Options vested and expected to vest - weighted average exercise price (in dollars per share) | $ / shares	$ 6.43
Options vested and expected to vest - weighted average remaining contractual term (Year)	3 years 262 days
Options vested and expected to vest - aggregate intrinsic value | $	$ 5,584
Options exercisable (in shares) | shares	981,556
Exercisable - weighted average exercise price (in dollars per share) | $ / shares	$ 4.86
Exercisable - weighted average remaining contractual term (Year)	3 years 7 days
Exercisable - aggregate intrinsic value | $	$ 4,648

Note 8 - Shareholders' Equity41

Note 8 - Shareholders' Equity - Stock Option Assumptions (Details)	6 Months Ended
	Jul. 01, 2018
Risk-Free Interest Rate	2.60%
Volatility Factor	47.00%
Weighted Average Expected Life (Year)	5 years
Dividends	0.00%

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent						35.00%
Income Tax Expense (Benefit), Total	$ 78	$ 179	$ 133	$ 266
Unrecognized Tax Benefits, Ending Balance	$ 0		$ 0			$ 0
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total						69,594
Tax Credit Carryforward, Amount						1,837
Domestic Tax Authority [Member] | Earliest Tax Year [Member] | Internal Revenue Service (IRS) [Member]
Open Tax Year			2,002
Domestic Tax Authority [Member] | Latest Tax Year [Member] | Internal Revenue Service (IRS) [Member]
Open Tax Year			2,017
Foreign Tax Authority [Member]
Operating Loss Carryforwards, Total						$ 12,760	$ 12,760
Foreign Tax Authority [Member] | Earliest Tax Year [Member]
Open Tax Year			2,009
Foreign Tax Authority [Member] | Latest Tax Year [Member]
Open Tax Year			2,017
State and Local Jurisdiction [Member] | Earliest Tax Year [Member]
Open Tax Year			2,002
State and Local Jurisdiction [Member] | Latest Tax Year [Member]
Open Tax Year			2,017
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent					21.00%

Note 9 - Income Taxes - Income

Note 9 - Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Foreign	$ 57	$ 130	$ 89	$ 151
Federal	0	6	0	28
State	4	3	8	8
Deferred Income Tax Provision	17	40	36	79
Total	$ 78	$ 179	$ 133	$ 266

Note 9 - Income Taxes - Effecti

Note 9 - Income Taxes - Effective Consolidated Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Income Before Income Taxes			$ 3,940	$ 3,021
Income tax provision	$ 78	$ 179	$ 133	$ 266
Effective Income Tax Rate			3.40%	8.80%

Note 10 - Earnings Per Share (D

Note 10 - Earnings Per Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Dilutive Securities Included in Computation of Earnings Per Share Amount	1,268,286	1,055,097	1,254,286	1,055,097
Dilutive Securities Included in Computation of Earnings Per Share Amount Restricted Stock	17,500	13,400	17,500	13,400
Incremental Common Shares Attributable to Share-based Payment Arrangements, Total	598,061	339,705	540,836	291,062
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	401,750	1,060,916	415,750	1,060,916

Note 11 - Commitments and Con46

Note 11 - Commitments and Contingencies (Details Textual) $ in Thousands	6 Months Ended
	Jul. 01, 2018USD ($)
Capital Addition Purchase Commitments [Member]
Long-term Purchase Commitment, Amount	$ 2,381

Note 11 - Commitments and Con47

Note 11 - Commitments and Contingencies - Changes in Produce Warranty Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017
Accrued Warranty Obligations – Beginning	$ 149	$ 172
Accruals for Warranties Issued	7	29
Settlements Made	(5)	(38)
Accrued Warranty Obligations – Ending	$ 151	$ 163

Note 12 - Business Segment In48

Note 12 - Business Segment Information (Details Textual)	6 Months Ended
	Jul. 01, 2018
Number of Operating Segments	2

Note 12 - Business Segment In49

Note 12 - Business Segment Information - Segment Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Revenues	$ 22,864	$ 19,939	$ 45,933	$ 41,974
Segment Contribution	1,632	1,322	3,988	3,163
Income, Net	86	(49)	(48)	(142)
Tax Provision	(78)	(179)	(133)	(266)
Non-Controlling Interest	(13)		(30)	(6)
Net Income Attributable to Ultralife	1,627	1,094	3,777	2,749
Battery & Energy Products Segment [Member]
Revenues	17,831	16,880	35,055	34,359
Segment Contribution	4,926	4,741	9,962	9,671
Communications Systems Segment [Member]
Revenues	5,033	3,059	10,878	7,615
Segment Contribution	1,624	1,480	3,870	3,440
Corporate Segment [Member]
Revenues
Segment Contribution	(4,918)	(4,899)	(9,844)	(9,948)
Income, Net	86	(49)	(48)	(142)
Tax Provision	(78)	(179)	(133)	(266)
Non-Controlling Interest	$ (13)		$ (30)	$ (6)

Note 12 - Business Segment In50

Note 12 - Business Segment Information - Domestic and International Revenue by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Revenues	$ 22,864	$ 19,939	$ 45,933	$ 41,974
Revenue, percentage
UNITED STATES
Revenues	$ 10,254	$ 10,818	$ 19,880	$ 20,170
Revenue, percentage	45.00%	54.00%	43.00%	48.00%
Non-US [Member]
Revenues	$ 12,610	$ 9,121	$ 26,053	$ 21,804
Revenue, percentage	55.00%	46.00%	57.00%	52.00%
Battery & Energy Products Segment [Member]
Revenues	$ 17,831	$ 16,880	$ 35,055	$ 34,359
Battery & Energy Products Segment [Member] | UNITED STATES
Revenues	10,254	10,818	19,880	20,170
Battery & Energy Products Segment [Member] | Non-US [Member]
Revenues	7,577	6,062	15,175	14,189
Communications Systems Segment [Member]
Revenues	5,033	3,059	10,878	7,615
Communications Systems Segment [Member] | UNITED STATES
Revenues
Communications Systems Segment [Member] | Non-US [Member]
Revenues	$ 5,033	$ 3,059	$ 10,878	$ 7,615

Note 12 - Business Segment In51

Note 12 - Business Segment Information - Revenue by Business Segment Sector (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Revenues	$ 22,864	$ 19,939	$ 45,933	$ 41,974
Revenue, percentage
Commercial [Member]
Revenues	$ 15,680	$ 10,037	$ 30,668	$ 23,922
Revenue, percentage	69.00%	50.00%	67.00%	57.00%
Government & Defense [Member]
Revenues	$ 7,184	$ 9,902	$ 15,265	$ 18,052
Revenue, percentage	31.00%	50.00%	33.00%	43.00%
Battery & Energy Products Segment [Member]
Revenues	$ 17,831	$ 16,880	$ 35,055	$ 34,359
Battery & Energy Products Segment [Member] | Commercial [Member]
Revenues	10,647	7,248	20,062	16,665
Battery & Energy Products Segment [Member] | Government & Defense [Member]
Revenues	7,184	9,632	14,993	17,694
Communications Systems Segment [Member]
Revenues	5,033	3,059	10,878	7,615
Communications Systems Segment [Member] | Commercial [Member]
Revenues	5,033	2,789	10,606	7,257
Communications Systems Segment [Member] | Government & Defense [Member]
Revenues		$ 270	$ 272	$ 358