Sign up
Tech Capital

CUI Global sees 1Q revenue boost

The Oregon-based company saw a $1 million boost in its revenue compared to the year-ago period
globe
CUI is focused on the build-out of energy services infrastructure in the US

Shares of CUI Global Inc (NASDAQ:CUI) rose by double-digits in pre-market trading Thursday a day after the company reported revenue of $23 million in the first quarter, up from $22.0 million in the year-ago period.

CUI’s stock recently traded up 25% to $1.55.

The Tualatin, Oregon-based energy and technology company said it ended the quarter with cash and cash equivalents of $800,000, with restricted cash of $500,000.

CUI Global also reported a narrowing consolidated net loss of $3 million, compared to a loss of $3.3 million in the same quarter of 2018. The company said it produced a gross profit of $7.7 million, compared to $6.6 million.

READ: CUI Global subsidiary Orbital Gas Systems secures GasPT orders from SAMSON AG

The company also said its power and electromechanical (P&EM) segment's unaudited backlog was $19.6 million as of March 31, compared to $21.8 million at the end of December 2018.

And the energy segment's unaudited backlog was $13.4 million, compared to $15.7 million at December’s end, the company said in a statement.

"Our first quarter results reflect continued strength in our P&EM segment and the fruits of business development initiatives in our Energy segment focused on the buildout of energy services infrastructure in the US," said CEO William Clough.

--Updates pre-market stock price--

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

1556543955_patrick.graham.jpg
Why Invest In CUI Global Inc? Read More Here

Register here to be notified of future CUI Company articles
View full CUI profile View Profile
CN Research

CUI Global Inc - A whole new venture

View All

Related Articles

© tech Capital 2019

Tech Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed tech companies to interact with institutional and highly capitalised investors.
Headquartered in London, Tech Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.