ULBI..Ultralife Batteries Message Board

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Technology Stocks : ULBI..Ultralife Batteries

ULBI 6.880

-0.7%

Nov 4 3:59 PM EST

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To: Zeev Hed who wrote (430)	2/19/2000 10:38:00 PM
From: Dennis Roth	Read Replies (1) of 522

>> Dennis, to me it is quite a positive CC. << Zeev, I was disappointed that they had not made the progress in improving primary battery margins they had previously promised. Improved margins are now promised for the fourth quarter. Also there was almost no improvement in the performance of Ultralife, UK. They haven't been getting the orders of high rate batteries needed to keep that division from being a drain on the company. The guidance that revenues for the third quarter will be flat to down means that they will lose more than 3 million dollars again in the current quarter. The only thing that seems certain about the LiPolymer effort is that they seem determined to enter the after market for cell phones with a LiPolymer product. The aftermarket is the least profitable segment of the market so even with LiPoly sales they will still continue to lose money. They need more sales and better margins on what they sell. You may in the short term reach your $20 target price because of the company's highly visible presence at the CTIA's Wireless 2000 meeting at the end of this month. The company and its LiPoly story will become known to a lot of potential investors who never heard of Ultralife before. Longer term the company has to become profitable before they run out of money. At the current burn rate their cash will last for only six more quarters. Continuously issuing more shares to cover losses as Valence does won't work for this company. I want to see some bottom line improvement by this company to go along with the top line improvements.

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