Collins Stewart Downgrades Ultralife (ULBI) to Hold; Slashes 2009-10 Estimates
More News related to ULBI
- WindTamer Corporation Announces Appointment of William A. Schmitz as President and Director
- Ultralife Corp. (ULBI) COO Schmitz Resigns; Will Become President at WindTamer Corp.
- Ultralife Corporation Announces Resignation of William A. Schmitz, Chief Operating Officer
- Ultralife (ULBI) CFO Casper Resigns; Fain to Act as CFO on Interim
- Ultralife Corporation Announces Resignation of John C. Casper as VP Finance and Chief Financial Officer
More News related to Downgrades
- RBC Capital Downgrades Church & Dwight (CHD) from Top Pick to Outperform
- JMP Securities Downgrades NuVasive (NUVA) to Market Perform
- Brean Murray Downgrades NuVasive (NUVA) to Hold; Reimbursement Issues Struck a Nerve
- Merriman Curhan Ford Downgrades Netflix (NFLX) to Neutral; Risk Lies More With Initial 1Q Guidance
- Shields & Co. Downgrades ALLETE, Inc. (ALE) to Hold
Collins Stewart downgrades Ultralife (Nasdaq: ULBI) to Hold.
Collins analyst says, "During the summer we upgraded Ultralife to a Buy based on the assumption the company would be a significant beneficiary of the M-ATV deployment. Today, the company announced it will not receive orders for its SOTM (SATCOM-on-the-move) kits. We believe these kits will be supplied by Harris as part of that company's $334 million IDIQ the Marines intend to award. This results in significantly lower revenue and EPS estimates for Ultralife. The M-ATV loss could be offset, somewhat, by orders for other platforms like Strykers and Bradleys. In fact, Ultralife received a $20 million order for SOTM kits this morning unrelated to M-ATV. However, although we think SOTM will be a key part of vehicle accessories, we do not believe the loss of M-ATV can be easily overcome. There is no other rapid vehicle procurement of M-ATV's magnitude currently...We have slashed our forecasts for 2009 and 2010. The reductions are based solely on the loss of M-ATV. We now expect bottom-line losses in both years."
To see more analyst ratings on ULBI Click Here.
Ultralife Corporation designs, manufactures, installs, and maintains power and communications systems worldwide.
Related Categories
DowngradesStocks Mentioned
+0.07Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
