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CUI Global Inc

CUI Global - Preparing to step on the gas

CUI Global (NASDAQ:CUI) has reported strong results for the full year (FY) 2018, with revenues of US$96.8mln versus our forecast of US$92.8mln. The FY order backlog stood at US$37.5mln versus US$32.8mln at the end of 2017.

The company reported an underlying loss (statutory LBITDA) of USS$14.0mln versus our forecast of a loss of US$8.1mln; however, this figure is after booking non-cash impairment charges of US$7.4mln, relating to delays in existing customer contracts in the Energy division, and other issues. On an adjusted EBITDA basis, the outcome of a loss of US$8.0mln was ahead of our forecast.

Also in the release, CUI announced that it has agreed to acquire a 20% stake in VPS, the key partner on the ICE programme for data-centre energy management, gaining representation on the board of VPS. We see this as a positive route to capitalise on the software-defined opportunity of ICE.

Quick facts: CUI Global Inc

Price: 1.11 USD

Market: NASDAQ
Market Cap: $32.47 m
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What's in the report?

Financial results and forecasts
Growth drivers
Management
Market conditions
Milestones & inflection points

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Capital Network analyst discusses 'transformational' CUI Global deal

Capital Network analyst Ed Stacey says a proposed deal to combine CUI Global (NASDAQ:CUI) with four other businesses will result in an entirely transformed entity with more than 3x the revenues (estimated) of the existing CUI business. The four target businesses provide services to...

on 20/5/19

4 min read