Note 1 - Basis of Presentation

9 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Business Description and Basis of Presentation [Text Block]

1. BASIS OF PRESENTATION

The accompanying unaudited Consolidated Financial Statements of Ultralife Corporation (the “Company”) and its subsidiaries have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Rule

8

-

03

of Regulation S-

X.

Accordingly, they do

not

include all of the information and footnotes for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals and adjustments) considered necessary for a fair presentation of the Consolidated Financial Statements have been included. Results for interim periods should

not

be considered indicative of results to be expected for a full year. Reference should be made to the Consolidated Financial Statements and related notes thereto contained in our Form

10

-K for the year ended

December 31, 2017.

The

December 31, 2017

consolidated balance sheet data referenced herein was derived from audited financial statements, but does

not

include all disclosures required by GAAP.

Our monthly closing schedule is a

4/4/5

weekly-based cycle for each fiscal quarter, as opposed to a calendar month-based cycle for each fiscal quarter. While the actual dates for the quarter-ends will change slightly each year, we believe that there are

not

any material differences when making quarterly comparisons.