ULBI's $400,000 order not well received, down to $7.125. Here is the hype:
ULTRALIFE BATTERIES, INC. RECEIVES ORDER FOR
Lithium Batteries Valued at $400,000
NEWARK, N.Y., June 15 /PRNewswire/ -- Ultralife Batteries, Inc. (Nasdaq:
ULBI) announced today that it has received a purchase order for its "Thin
Cell" primary lithium batteries valued at approximately $400,000. The
order, from I.D. Systems, Inc., a leader in radio frequency identification
technology, is scheduled for delivery over a 12-month period, beginning
in late calendar 1998. Ultralife's Thin Cells are high-energy, ultra-thin,
primary (disposable) lithium batteries. I.D. systems will utilize them
in a state-of-the-art RFID (radio frequency identification) system that
monitors the movement of assets. The U. S. Postal Service, for example,
uses this RFID system to track letters and identify bottlenecks throughout
the mail delivery network.
James R. Sullivan, Ultralife Vice President of Sales, said, "The RFID
market is growing rapidly, and our Thin Cells are ideally suited to this
application. These batteries can be made as thin as one
millimeter, they are very lightweight, and, with their advanced lithium
chemistry, they last longer than other batteries of similar size and
weight."
Ken Ehrman, president of I.D. Systems, said, "Ultralife's Thin Cells give
our RFID transponders exceptional power performance and the flat profile
that is required for envelope insertion. The battery was a key factor
in the design of our product."
Ultralife Batteries, Inc. manufactures and markets a comprehensive line
of high-performance lithium batteries. The Company's primary lithium
batteries are used in a wide variety of consumer, industrial and military
products. The Company's advanced rechargeable batteries are being commercialized
for notebook computers, cellular telephones and many other portable electronic
products. Key customers include Boeing, Eveready, First Alert, Fymetics,
Maple Chase, Mitsubishi Electric Corporation, Radio Shack, and the national
defense agencies of the United States and the United Kingdom.
Detailed information on Ultralife is available at the company's web site,
www.ulbi.com.
This document contains forward-looking statements based on current expectations.
Actual results could differ materially from those projected as a result
of various risks and uncertainties, including continued acceptance of
and demand for the company's products, and changes in customers' purchasing
plans. A more detailed description of such uncertainties are contained
in the Company's filings with the Securities and Exchange Commission,
such as the Registration Statement on Form S-3 declared effective April
30, 1998.
SOURCE Ultralife Batteries, Inc.
-0- 06/15/98 /CONTACT: Julius Cirin, Director
of Marketing of Ultralife Batteries, Inc., 315-332-7100/
/Web site: ulbi.com (ULBI)
CO: Ultralife Batteries, Inc. ST: New York IN: CPR CHM SU: PDT
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Subjects: business public+companies wall+street art cellular chemicals
computers consumer corporate electronics energy market military nasdaq
otc prn products radio sales securities technology united+kingdom united+states
usa
Symbols: ULBI
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