Waytronx, Inc. and its wholly owned subsidiary, CUI, Inc., announced that it posted second quarter results for the three months ended June 30, 2009. Waytronx and CUI produced revenues of $6,035,790 and EBITDA of $1,033,166 for the three months ended June 30, 2009. The company maintained a 40% gross margin and continues to focus on operational efficiencies.
"These results confirm the effectiveness of our continuing move to the new technology/licensing model," explained William Clough, CEO of Waytronx. "The acquisition and commercialization of such products as the C14 and AMT Encoders and the $12,600,000 reduction in acquisition debt, have all contributed to our ability to maintain 40% gross margins in this difficult economic environment."
Recent Waytronx highlights include entry into the Asian marketplace through the CUI Japan acquisition; design wins for the company’s proprietary AMT encoder products; and the vertical expansion of sales through the signing of six outside sales manufacturer representative organizations, giving Waytronx comprehensive sales coverage of North America including parts of Canada and into Mexico.
"We strongly believe that the initiatives that we have implemented this year will continue to produce positive results in both revenue growth and increased shareholder value through the end of this year and into 2010," concluded Clough.
