CUI Global, Inc. Reports Q3 2012 New Orders Over $13 Million: 51% Year-over-Year Increase
CUI Global, Inc. announced that its wholly owned subsidiary, CUI, Inc. posted record bookings for this quarter of $13,721,715 in new sales orders during third quarter 2012. These bookings represent a $4,615,146 or 51% increase in new sales orders from third quarter 2011.
In addition, CUI's sales order backlog as of September 30, 2012 was $14.7 million. This represents a $5.6 million increase from the $9.1 million sales order backlog at the end of third quarter 2011, an increase of 61%, reflecting the continued strength of the company's product offering and sales efforts.
"While these numbers still do not reflect any substantial revenues from our Vergence®, Novum®, and/or Solus® Technologies, this year-over-year growth does represent dramatic evidence of CUI's ability to close OEM business," explained CUI Global's president &CEO, William Clough.
"We believe that the trend represented by these third quarter numbers, coupled with fourth quarter purchase orders for our GasPT2 Natural Gas Metering Device, will lead to a growth year for FY 2012." Clough concluded.
