TUALATIN, Ore., Feb. 8, 2017 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) announced today that its wholly-owned subsidiary, CUI Inc., received a $1.6 million purchase order from a U.S.-based infrastructure installation company that serves retail store environments. The purchase order was received as part of a larger project currently under implementation by CUI Inc.'s customer for a leading pharmacy retailer in the U.S. CUI Inc.'s unmatched value-added support services were key competitive differentiators in securing the purchase order.
The purchase order calls for CUI Inc. to deliver custom engineering assistance, safety approval documentation and its 50 Watt AC-DC external power converters with custom features.
Matt McKenzie, president of CUI Inc., stated, "Our value-added support services continue to provide a unique dimension to our expansive line of products and services. This purchase order is the result of many months of technical and commercial engagement that enabled the customer to obtain significant value from our in-house capabilities and industry experience and reduce risks associated with its project."
William Clough, CUI Global's president & CEO, added, "This purchase order marks the beginning of a new, long-term partnership with a customer that recognizes the value of CUI Inc.'s technical know-how and power electronics expertise. It also speaks to CUI Inc.'s ongoing ability to win and deliver large dollar-value projects despite continued weakness in the electronics industry."
About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected World . . . . .
CUI Global, Inc., is a publicly traded company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. From Orbital Gas Systems' advanced GasPT2 platform targeting the energy sector, to CUI Inc.'s digital power platform serving the networking and telecom space, CUI Global and its subsidiaries have built a diversified portfolio of industry leading technologies that touch many markets. As a publicly traded company, shareholders are able to participate in the opportunities, revenues, and profits generated by the products, technologies, and market channels of CUI Global and its subsidiaries. But most importantly, a commitment to conduct business with a high level of integrity, respect, and philanthropic dedication allows the organization to make a difference in the lives of their customers, employees, investors and global community.
For more information please visit www.cuiglobal.com.
About CUI Inc.
CUI Inc. is a technology company focused on the development and distribution of electronic components. At the leading edge of power supply design, the organization supports customers as they strive to improve the energy efficiency and environmental credentials of their application. The company's power group is complemented by a portfolio of world-class board level components, consisting of interconnect, audio, motion control and thermal products. An unwavering commitment to create collaborative partnerships with customers and a drive to see that their design project is a success has been a hallmark of CUI's sustained growth since its founding in 1989. As a leader in the industry, CUI will continue to invest in the future through new technologies, talented employees, expanded manufacturing capabilities, and a growing global reach.
For more information please visit www.cui.com.
Important Cautions Regarding Forward Looking Statements
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.
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SOURCE CUI Global, Inc.