Exhibit 99.1
Company Contact: Investor Relations Contact: Media Contact:
Ultralife Batteries, Inc. Lippert/Heilshorn Lippert/Heilshorn
Robert Fishback & Associates, Inc. & Associates, Inc.
(315) 332-7100 Jody Burfening Chenoa Taitt
bfishback@ulbi.com (212) 838-3777 (212) 201-6635
jburfening@lhai.com ctaitt@lhai.com
Ultralife Batteries, Inc. Receives $4.2 Million U.S. Army Battery Order
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Newark, New York - October 15, 2003 - Ultralife Batteries, Inc. (NASDAQ: ULBI)
has received an order valued at approximately $4.2 million from the U.S. Army
Communications and Electronics Command (CECOM) for its BA-5372/U military
batteries. The order represents another production release under the $32 million
NextGen II, 5-year Small Cylindrical Battery contract, which CECOM awarded to
Ultralife in June 2002. The company expects to deliver against the order
throughout 2004.
John D. Kavazanjian, Ultralife's president and chief executive officer, said,
"This year we have been delivering primarily against orders for the BA-5372
unrelated to the NextGen II contract. Today's order and the production releases
we received from CECOM in August give us visibility for continued profitable
revenue growth in 2004. We anticipate receiving additional production releases
under the NextGen II contract in 2004 and over the remaining life of the
contract."
NextGen II is CECOM's five-year acquisition strategy with production contracts
awarded to provide three types of primary (non-rechargeable) lithium-manganese
dioxide batteries to the U.S. Army. The three battery types - BA-5372/U,
BA-5367/U and BA-5368/U - comprise the Small Cylindrical Cell Lithium Manganese
Dioxide Battery Group. A major objective of this acquisition is to maintain a
domestic production base of a sufficient capacity to timely meet peacetime
demands and have the ability to surge quickly to meet deployment demands.
The BA-5372/U battery is used for memory backup primarily for the AN/PRC-119
MANPACK Single Channel Ground and Airborne Radio System (SINCGARS), and in
numerous other applications including encryption and cryptographic devices, and
the Patriot Missile System.
About Ultralife Batteries, Inc.
Ultralife is a leading developer, manufacturer, and marketer of standard and
customized lithium primary (non-rechargeable), lithium ion and lithium polymer
rechargeable batteries. Ultralife's high-energy batteries use advanced lithium
technology and are used in military, industrial and consumer portable electronic
products. Through its range of standard products and ability to customize for a
wide range of applications, Ultralife is able to provide the next generation of
battery solutions. OEM, retail and government customers include Energizer, Kidde
Safety, Philips Medical Systems, Radio Shack and the national defense agencies
of the United States and United Kingdom, among others.
Ultralife's headquarters, principal manufacturing and research facilities are in
Newark, New York, near Rochester. Ultralife (UK) Ltd., a second manufacturing
and research facility, is located in Abingdon, U.K. Both facilities are
ISO-9001/2000 certified.
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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: worsening global economic conditions, increased competitive environment
and pricing pressures, disruptions related to restructuring actions and delays.
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.
Note to editors: Photos for the battery and application mentioned in this
release and other Ultralife military batteries are available at:
http://www.ultralifebatteries.com/milphoto.asp
Ultralife(R) is a registered trademark Ultralife Batteries, Inc.
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