The Street.com has upgraded Ultralife Corp. stock from hold to buy. The upgrade was driven by the Newark, Wayne County, firm’s strength in many areas, including growth in revenue, earnings per share and net income.

The Street.com has upgraded Ultralife Corp. stock from hold to buy. The upgrade was driven by the Newark, Wayne County, firm’s strength in many areas, including growth in revenue, earnings per share and net income.
Shares of Ultralife (NasdaqGM: ULBI) were trading midday at $13.81, down 8 cents from Tuesday’s close.
The online financial site, led by Jim Cramer, noted Ultralife’s impressive revenue growth, which it said exceeded the industry average of 9.8 percent. The site noted Ultralife third-quarter sales grew 104.2 percent this year over last year’s quarter.
TheStreet.com also highlighted Ultralife’s low debt-to-equity ratio and expects the firm’s two-year trend of earnings per share growth to continue.
Ultralife’s net income growth from the quarter one year ago significantly exceeded that of the Standard & Poor’s 500-stock index and the electrical equipment industry. Net income increased from a loss of $130,000 to $4.66 million, the site states.
Ultralife ranked 18th on the most recent Rochester Business Journal list of manufacturers; it has 510 local employees.

(c) 2008 Rochester Business Journal. Obtain permission to
reprint this article.