<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; border-top: Black 3pt ridge">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: bold 12pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: bold 12pt Times New Roman, Times, Serif; text-align: center">UNITED STATES</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center"><B>Washington, D.C. 20549</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: bold 18pt Times New Roman, Times, Serif; text-align: center">FORM 8-K</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4">
        <P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">CURRENT REPORT</P>
        <P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Pursuant to Section 13 or 15(d) of the
        Securities Exchange Act of 1934</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of the earliest event reported)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>April 28, 2015</U></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 18pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 18pt"><B><U>ULTRALIFE CORPORATION</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 9pt">(Exact name of registrant as specified in its charter)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center"><B><U>Delaware</U></B></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center"><B><U>000-20852</U></B></TD>
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center"><B><U>16-1387013</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 9pt">(State of incorporation)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 9pt">(Commission File Number)</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 9pt">(IRS Employer Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font: normal 11pt Times New Roman, Times, Serif; text-align: center; text-decoration: underline"><B>2000
Technology Parkway, Newark, New York</B></TD>
    <TD STYLE="font: normal 11pt Times New Roman, Times, Serif; text-align: center; text-decoration: underline"><B>14513</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 9pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 9pt">(Zip Code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center"><B><U>(315) 332-7100</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 9pt">(Registrant&rsquo;s telephone number, including area code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 3pt ridge">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="margin: 0"></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Item 1.01 &#9;Entry Into A Material Definitive
Agreement</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt">On April 30, 2014, Ultralife Corporation (the &ldquo;Company&rdquo;)
and PNC Bank, National Association (&ldquo;PNC&rdquo;) entered into an amendment (the &ldquo;First Amendment&rdquo;) to the Revolving
Credit, Guaranty and Security Agreement (the &ldquo;Credit Agreement&rdquo;) dated as of May 24, 2013, between the Company and
PNC.&nbsp;&nbsp;The First Amendment permitted the Company to commence a Share Repurchase Program (see Item 8.01 below) under which
the Company&rsquo;s Board of Directors had authorized the repurchase of up to 1.8 million common shares through April 30, 2015.&nbsp;&nbsp;Repurchases
of the Company&rsquo;s common shares were permitted provided that (a) the Company is not in default under the Credit Agreement,
(b) the Company&rsquo;s undrawn availability under the Credit Agreement is at least $6 million both prior to and immediately following
the repurchase, (c) the Company&rsquo;s undrawn availability under the Credit Agreement plus domestic unrestricted cash is at least
$8 million both prior to and immediately following the repurchase, and (d) the Company uses its unrestricted cash for such repurchases
and does not request advances against the Credit Agreement for such purposes.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt">On April 29, 2015, the Company and PNC entered into
a Third Amendment to the Credit Agreement, permitting the Company to extend its Share Repurchase Program through April 30, 2016
under the same terms and conditions.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">A copy of the Third Amendment
as attached as an exhibit to this Form 8-K.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Item 2.02&#9;Results of Operations and Financial
Condition</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">NEWARK, N.Y. &ndash; April 30, 2015 -- Ultralife Corporation
(NASDAQ: ULBI)<B> </B>reported operating income of $0.8 million on revenue of $19.2 million for the first quarter ended March 29,
2015. For the first quarter of 2014, the Company reported an operating loss of $1.1 million on revenue of $15.3 million.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&ldquo;Building on our strong fourth quarter performance, we
continued to execute well against our business model parameters in the first quarter. With both Battery &amp; Energy Products
and Communications Systems producing top-line sales growth, Ultralife generated consolidated gross margin of 31.3%, operating
margin of 4.3% and EPS of $0.03 for the quarter. Having started the year on a solid note, we remain positioned to generate
top-line growth and profitable results for 2015,&rdquo; said Michael D. Popielec, Ultralife&rsquo;s President and
Chief Executive Officer.&nbsp;&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Revenue grew $3.9 million, or 25%, to $19.2 million compared
to $15.3 million for the first quarter of 2014 reflecting increases in both Battery &amp; Energy Products sales and Communications
Systems sales. Battery &amp; Energy Products sales were $16.3 million compared to $13.9 million last year, a 17% increase, driven
by higher shipments to Government/Defense customers. Communications Systems sales more than doubled to $2.9 million compared to
$1.4 million for the same period last year, primarily reflecting higher sales of new products, including our Universal Vehicle
Adaptors to a large international prime, as well as an improved order flow.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Gross profit was $6.0 million, or 31.3% of revenue, compared
to $4.3 million or 28.4% of revenue for the same quarter a year ago. The 290 basis point increase primarily reflects favorable
product mix, improved overhead absorption on higher production volumes and continued Lean productivity gains. Battery &amp; Energy
Products gross margin was 29.4%, 210 basis points higher than the 27.3% reported last year, and Communications Systems gross margin
was 42.2%, a 300 basis point improvement from the 39.2% reported last year.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Operating expenses were $5.2 million compared to $5.4 million
last year reflecting ongoing discretionary spending discipline while continuing to invest in new product development. Operating
expenses were 27.0% of revenue compared to 35.5% for the year earlier period.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">The combination of higher revenue and resulting gross profit
leverage, and lower operating expenses produced operating income of $0.8 million compared to an operating loss of $1.1 million
last year for an operating margin of 4.3% versus negative 7.2% last year. Net income was $0.5 million, or $0.03 per share compared
to a net loss of $1.3 million, or $0.07 per share, for the first quarter of 2014.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">The information set forth in this Form 8-K and the attached
exhibit is being furnished to and not filed with the Securities and Exchange Commission and shall not be deemed to be incorporated
by reference in any filing under the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, except
to the extent specifically provided in any such filing.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Item 8.01 &#9;Other Events</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt">On April 28, 2015, Ultralife&rsquo;s Board of
Directors authorized an extension of the Company&rsquo;s Share Repurchase Program for an additional twelve month period
beginning May 1, 2015 and ending April 30, 2016, subject, for the entire period as extended, to the 1.8 million share
aggregate limit established in the initial authorization. Since the inception of the Share Repurchase Program on May 1, 2014,
the Company has repurchased 388,122 shares.&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;<B>Item 9.01&#9;Financial Statements, Pro Forma
Financials and Exhibits</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1&#9;
Third Amendment to Revolving Credit, Guaranty and Security Agreement&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1 Press Release of Ultralife Corporation dated April
30, 2015</P>



<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif"><B>SIGNATURES</B></FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif"><B>ULTRALIFE CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">April
    30, 2015</FONT></TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">/s/
    Philip A. Fain</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Chief Financial
    Officer and Treasurer</FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="margin: 0"></P>


</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "ulbi_8k043015.htm", "description": "FORM 8-K", "secsgml_size_bytes": 21006}]
{"company-data": {"conformed-name": "ULTRALIFE CORP", "cik": "0000875657", "assigned-sic": "3690", "irs-number": "161387013", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-20852", "film-number": "15815311"}, "business-address": {"street1": "2000 TECHNOLOGY PARKWAY", "city": "NEWARK", "state": "NY", "zip": "14513", "phone": "3153327100"}, "mail-address": {"street1": "2000 TECHNOLOGY PARKWAY", "city": "NEWARK", "state": "NY", "zip": "14513"}, "former-company": {"former-conformed-name": "ULTRALIFE BATTERIES INC", "date-changed": "19940224"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
        Securities Exchange Act of 1934
Date of Report (Date of the earliest event reported)
April 28, 2015
ULTRALIFE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
000-20852
16-1387013
(State of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
2000
Technology Parkway, Newark, New York
14513
(Address of principal executive offices)
(Zip Code)
(315) 332-7100
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 	Entry Into A Material Definitive
Agreement
On April 30, 2014, Ultralife Corporation (the "Company")
and PNC Bank, National Association ("PNC") entered into an amendment (the "First Amendment") to the Revolving
Credit, Guaranty and Security Agreement (the "Credit Agreement") dated as of May 24, 2013, between the Company and
PNC.  The First Amendment permitted the Company to commence a Share Repurchase Program (see Item 8.01 below) under which
the Company's Board of Directors had authorized the repurchase of up to 1.8 million common shares through April 30, 2015.  Repurchases
of the Company's common shares were permitted provided that (a) the Company is not in default under the Credit Agreement,
(b) the Company's undrawn availability under the Credit Agreement is at least $6 million both prior to and immediately following
the repurchase, (c) the Company's undrawn availability under the Credit Agreement plus domestic unrestricted cash is at least
$8 million both prior to and immediately following the repurchase, and (d) the Company uses its unrestricted cash for such repurchases
and does not request advances against the Credit Agreement for such purposes.
On April 29, 2015, the Company and PNC entered into
a Third Amendment to the Credit Agreement, permitting the Company to extend its Share Repurchase Program through April 30, 2016
under the same terms and conditions.
A copy of the Third Amendment
as attached as an exhibit to this Form 8-K.
Item 2.02	Results of Operations and Financial
Condition
NEWARK, N.Y. – April 30, 2015 -- Ultralife Corporation
(NASDAQ: ULBI)
reported operating income of $0.8 million on revenue of $19.2 million for the first quarter ended March 29,
2015. For the first quarter of 2014, the Company reported an operating loss of $1.1 million on revenue of $15.3 million.
"Building on our strong fourth quarter performance, we
continued to execute well against our business model parameters in the first quarter. With both Battery & Energy Products
and Communications Systems producing top-line sales growth, Ultralife generated consolidated gross margin of 31.3%, operating
margin of 4.3% and EPS of $0.03 for the quarter. Having started the year on a solid note, we remain positioned to generate
top-line growth and profitable results for 2015," said Michael D. Popielec, Ultralife's President and
Chief Executive Officer.
Revenue grew $3.9 million, or 25%, to $19.2 million compared
to $15.3 million for the first quarter of 2014 reflecting increases in both Battery & Energy Products sales and Communications
Systems sales. Battery & Energy Products sales were $16.3 million compared to $13.9 million last year, a 17% increase, driven
by higher shipments to Government/Defense customers. Communications Systems sales more than doubled to $2.9 million compared to
$1.4 million for the same period last year, primarily reflecting higher sales of new products, including our Universal Vehicle
Adaptors to a large international prime, as well as an improved order flow.
Gross profit was $6.0 million, or 31.3% of revenue, compared
to $4.3 million or 28.4% of revenue for the same quarter a year ago. The 290 basis point increase primarily reflects favorable
product mix, improved overhead absorption on higher production volumes and continued Lean productivity gains. Battery & Energy
Products gross margin was 29.4%, 210 basis points higher than the 27.3% reported last year, and Communications Systems gross margin
was 42.2%, a 300 basis point improvement from the 39.2% reported last year.
Operating expenses were $5.2 million compared to $5.4 million
last year reflecting ongoing discretionary spending discipline while continuing to invest in new product development. Operating
expenses were 27.0% of revenue compared to 35.5% for the year earlier period.
The combination of higher revenue and resulting gross profit
leverage, and lower operating expenses produced operating income of $0.8 million compared to an operating loss of $1.1 million
last year for an operating margin of 4.3% versus negative 7.2% last year. Net income was $0.5 million, or $0.03 per share compared
to a net loss of $1.3 million, or $0.07 per share, for the first quarter of 2014.
The information set forth in this Form 8-K and the attached
exhibit is being furnished to and not filed with the Securities and Exchange Commission and shall not be deemed to be incorporated
by reference in any filing under the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, except
to the extent specifically provided in any such filing.
Item 8.01 	Other Events
On April 28, 2015, Ultralife's Board of
Directors authorized an extension of the Company's Share Repurchase Program for an additional twelve month period
beginning May 1, 2015 and ending April 30, 2016, subject, for the entire period as extended, to the 1.8 million share
aggregate limit established in the initial authorization. Since the inception of the Share Repurchase Program on May 1, 2014,
the Company has repurchased 388,122 shares.
Item 9.01	Financial Statements, Pro Forma
Financials and Exhibits
(a)        Exhibits
10.1	
Third Amendment to Revolving Credit, Guaranty and Security Agreement
99.1 Press Release of Ultralife Corporation dated April
30, 2015
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
ULTRALIFE CORPORATION
April
    30, 2015
By:
/s/
    Philip A. Fain
Chief Financial
    Officer and Treasurer