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** British defence contractor Ultra Electronicsfalls 12.1 pct in heavy volume
** Co terminates
** Ultra Electronics also says FY underlying operatingprofit fell to 120.1 mln pounds, from 131.1 mln pounds a yearearlier, weighed down by lower defence orders in the
** "The Sparton news is likely to overshadow the results,which are as expected in profit terms and ahead on cash,"Investec says
** Co announces a 134 mln pound buyback
** ULE shares have fallen 35 pct since the deal with Spartonwas announced in July last year
** Stock easily bottom performer on the FTSE 250 &most actively traded stock on the index
