Universal Power Group (NYSE MKT: UPG)
What is UPG? “Universal Power Group, Inc. (NYSE MKT: UPG) is a leading supplier and distributor of batteries and power accessories, and a provider of supply chain and other value-added services. UPG’s product offerings include proprietary brands of industrial and consumer batteries of all chemistries, chargers, jump-starters, 12-volt accessories, and solar and security products. UPG’s supply chain services include procurement, warehousing, inventory management, distribution, fulfillment and value-added services such as sourcing, battery pack assembly and coordinating battery recycling efforts, as well as product development.” That’s from their latest release.
There is no doubt they have taken a hit with one client going into bankruptcy with a large outstanding balance and a decline in orders from ADT and others. However, the company is strong. Gross profit was nearly unchanged. Ultimately they were flat for the quarter and had a slight profit for the six months ended June 30th.