Ultralife (ULBI) Jumps After Guidance Lifted Due To Strong Shipments/Backlog/Accelerated Deliveries

Shares of Ultralife (NASDAQ: ULBI) are 28% higher today after the company raises its previously issued Q2 revenue guidance from about $60-$70 million to in excess of $75 million. The Street consensus is $60.43 million.

For the FY08, Ultralife expects to report revenues of at least $250 million, compared to the consensus of $240.27 million.

CEO John D. Kavazanjian cited, "shipments to date, strong backlog in most businesses and requests from customers for accelerated deliveries against their orders," as the reasons for the revenue increase.

Still, with the raised guidance, an analyst at Collins Stewart was cautious on Ultralife. The firm said while 2008 is set to be a big year, the bigger issue is with 2009 and weather the company can garner an equivalent amount of either follow-on or new business. Collins Stewart has a Hold rating on the stock.

Ultralife Batteries, Inc. designs, manufactures, installs, and maintains power and communications systems.

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