Sign up Australia
Proactive Investors - Run By Investors For Investors

CUI Global on path to realising growth potential - chief executive

In the quarter, the power and electromechanical segment contributed revenues of $16.7 million,
CUI Global on path to realising growth potential - chief executive
The firm operates in the energy, gas and power sectors

CUI Global Inc (NASDAQ:CUI) is on a path to realising its growth potential, it said, posting the latest quarterly results 

Total revenue for the three months fell  6% to $21.8mln from $23.3 million in the third quarter of 2016, while net loss was $1.9mln, up from a loss of $507,000 last year.

In the quarter, the power and electromechanical segment contributed revenues of $16.7 million, while the energy segment contributed $5.1 million.

The sales order backlog as at September 30 this year was a consolidated US$31.8mln.

Of that, the power and electromechanical segment held a backlog of customer orders of $18.1 million and the energy segment had $13.7 million.

"During the third quarter, we continued to invest in and advance initiatives to drive the adoption of our disruptive solutions and position the company for long-term growth," William Clough, the president and chief executive of CUI Global, told investors.

"Our P&EM segment generated year-over-year revenue growth driven by strong point of sale results from all channel partners and by a strong direct OEM business that is seeing design activity continuing across a broad mix of our product offering.

"In our energy segment, revenue was below last year due to differences in the timing of delivery schedules and the impact of Hurricane Harvey which caused a shuttering of our facility in Houston for much of September and associated delays from customers for the delivery of integration projects."

He added: "With an expanded opportunity-set across both business segments grounded in our market-changing technology and growing market adoption, we are on a path to realizing the growth potential our technologies promise."

Recent highlights for the firm have been the raising of around US$19.2mln after it closed its underwritten offering of more than 7.3mln shares.

Also its gas monitoring business - Orbital Gas Systems (UK)  -= was notified by its Italian distribution partner that a tariff issue between the Italian energy authority and Snam Rete Gas (SRG), the national gas transmission company of Italy, has been resolved.

It means the deployment of the initial 400-unit order for the  firm' GasPT solution as part of SRG's re-metering project has now been resumed.

View full CUI profile View Profile

CUI Global Inc Timeline

Related Articles

ROBO Global US CEO Travis Briggs
August 15 2018
Investors can buy directly into the popular ROBO ETF based on the benchmark index comprised of 87 top robotics, automation and AI companies.
New business from the likes of Vodafone and GSK and a strong contribution from The Corner, which it acquired in December, meant revenues jumped 70% in the first half
An illustration of the tools Velpic uses in providing education and incident management
March 22 2018
Velpic has just signed its first NowForce client in Australia.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use