Ultralife To Take 4th Quarter Charge, Shares Up 6.9% (ULBI)
December 30, 2010 4:37 PM
Shares of Ultralife Corporation (Nasdaq: ULBI) are currently up 6.9% at $6.51 per share during Thursday afternoon trading.
Ultralife Corporation announced today before the market opened that it will take a non-cash impairment charge of approximately $14.0 million, or 81 cents per share, in the 4th quarter to write off fully the goodwill and intangible and fixed assets associated with its standby power business.
Today's trading range for shares of Ultralife Corporation (ULBI) has been between $6.02 and $6.56 per share.
The consensus price target of analysts covering the company's stock is $6.25 per share.
Volume of 137,000 shares is slightly above the daily average volume of 124,000 shares.
Ultralife Corporation, which began as a battery company, serves its markets with products and services ranging from portable and standby power solutions to communications and electronics systems.
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