CUI Global Reports First Quarter 2013 Revenue Of $10,059,360

         CUI Global Reports First Quarter 2013 Revenue Of $10,059,360

PR Newswire

TUALATIN, Ore., May 6, 2013

TUALATIN, Ore., May 6, 2013 /PRNewswire/ --CUI Global, Inc. (NASDAQ: CUI), a
platform company dedicated to the acquisition, development, and
commercialization of new, innovative products and technologies, reported
results for the first quarter ended March 31, 2013.

(Logo: http://photos.prnewswire.com/prnh/20120320/FL72629LOGO )

For the three months ended March 31, 2013, CUI Global produced consolidated
total revenues of $10,059,360. The numbers demonstrate that gross revenues
for the First Quarter grew 19% year-over-year ($1,589,597), when compared to
revenues of $8,469,763 for the same period in FY 2012.

In addition, CUI Inc posted first quarter bookings of $11.7 million in new
sales orders, which represented a $2.3 million (24%) increase in new sales
orders as compared to the same period in 2012. Further, CUI Inc had a sales
order back log at March 31, 2013 of $15.7 million, a $5.0 million (47%)
increase from the March 31, 2012 sales order back log balance of $10.7
million.

Significantly, the company saw its first quarter 2013 year-over-year selling,
general, and administrative costs (SG&A) decrease by 6% as a percentage of
gross revenues to 41% as compared with 47% during the prior year comparative
period. 

The company experienced a net loss of $0.04 per share (EPS) for the quarter
which is a 69% year-over-year improvement. The net loss includes costs
associated with our equity raise completed in April 2013, along with SG&A and
research and development expenses relative to increased sales efforts and
product development related costs for the Vergence®, Novum®, and Solus®
product families.

The company had $2,518,175 of cash and cash equivalents as of March 31, 2013.

"These results are quite encouraging," explained William Clough, CUI Global's
president & CEO. "The sequential growth in revenue, the decrease in SG&A as a
percentage of gross revenues, and the dramatic increase in new customer sales
orders and back log orders demonstrate the tangible results of our joint
marketing efforts with our distribution partner, Digi-Key; our new and
developing relationship with Future Electronics; and the continuing impact of
our focused efforts, through our Area Sales Directors and manufacturer
representatives, to increase our OEM business."

"Moreover, the nearly 50% increase in sales order back log, year-over-year,
ensures us of a robust delivery schedule through the second quarter of 2013."

"This is not to mention the significant impact our recent equity raise and
acquisition of Orbital-UK will have on our continuing business model and
growth curve – all of which should continue to produce positive results in
both revenue growth and enhanced shareholder value," Clough concluded.

The Company will conduct a conference call and web cast to review the results
on Tuesday, May 7, 2013 at 11:00 a.m. ET.

CUI Global, Inc. 2013 First Quarter Earnings Conference Call
Tuesday, May 7, 2013 at 11:00 a.m. Eastern
Dial in number: 877-407-8029
A simultaneous webcast will also be available via:
http://www.investorcalendar.com/IC/CEPage.asp?ID=170949

In addition, a replay of the conference call will be archived and available
until June 7, 2013 at the following number: 877-660-6853, conference ID:
413712.

Condensed Consolidated Balance Sheets
                                               March 31,       December 31,
                                               2013            2012
                                               (unaudited)
Assets:
Current Assets:
Cash and cash equivalents                      $        $       
                                               2,518,175       3,039,840
Trade accounts receivable, net of allowance of 3,837,874       4,965,926
$125,000 and $130,000, respectively
Inventories, net of allowance of $220,000 and  5,163,530       4,843,905
$250,000, respectively
Prepaid expenses and other                     1,060,709       378,885
Total current assets                           12,580,288      13,228,556
Property and equipment, net                    976,565         1,016,219
Other assets:
Investment - equity method                     260,347         258,244
Other Intangible assets, net                   8,550,997       8,618,524
Deposits and other                             980             11,360
Notes receivable, net                          503,905         501,422
Debt offering costs, net                       24,445          42,778
Goodwill, net                                  13,046,358      13,046,358
Total other assets                             22,387,032      22,478,686
Total assets                                   $         $      
                                               35,943,885     36,723,461
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable                               $        $       
                                               2,259,871       2,496,881
Line of credit                                 -               459,448
Accrued expenses                               1,356,929       1,142,839
Accrued compensation                           161,377         186,636
Unearned revenue                               494,665         371,541
Total current liabilities                      4,272,842       4,657,345
Long term notes payable, related party, net of 7,303,683       7,303,683
current portion due
Total long term liabilities                    7,303,683       7,303,683
Total liabilities                              11,576,525      11,961,028
Commitments and contingencies
Stockholders' equity:
Preferred stock, par value $0.001; 10,000,000  -               -
shares authorized
Common stock, par value $0.001; 325,000,000
shares
 authorized; and 10,883,280 shares issued   10,883          10,883
and outstanding at
 March 31, 2013 and December 31, 2012
Additional paid-in capital                     101,035,497     100,947,708
Accumulated deficit                            (76,633,914)    (76,171,822)
Accumulated other comprehensive (loss)         (45,106)        (24,336)
Total stockholders' equity                     24,367,360      24,762,433
Total liabilities and stockholders' equity     $         $      
                                               35,943,885     36,723,461



Condensed Consolidated Statements of Operations
(unaudited)
                                   For the three months ended March 31,
                                   2013                  2012
Revenues:
Product Sales                      $                $      
                                   10,052,246           8,463,806
Revenue from freight               7,114                 5,957
Total revenue                      10,059,360            8,469,763
Cost of revenues                   6,047,605             5,185,179
Gross profit                       4,011,755             3,284,584
Operating expenses
Selling, general and               4,149,757             4,020,178
administrative
Research and development           244,690               178,189
Bad debt                           (5,000)               (10,000)
Total operating expenses           4,389,447             4,188,367
(Loss) from operations             (377,692)             (903,783)
Other income (expense)
Other income                       61,238                25,146
Other expense                      (4,945)               (215)
Earnings from equity investment    2,103                 20,577
Amortization of debt offering      (18,333)              (18,333)
costs
Interest expense                   (114,474)             (187,198)
Total other income (expense), net  (74,411)              (160,023)
(Loss) before taxes                (452,103)             (1,063,806)
Provision for taxes                9,989                 7,956
Consolidated Net (loss)            $              $      
                                   (462,092)             (1,071,762)
Basic and diluted (loss) per       $           $          
common share                      (0.04)                (0.13)
Basic and diluted weighted average
common and common equivalents     10,883,280            8,439,629
shares
outstanding



Condensed Consolidated Statements of Cash Flows
(unaudited)
                                          For the three months ended March 31,
                                          2013                2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)                               $            $      
                                          (462,092)           (1,071,762)
Adjustments to reconcile net (loss) to
net cash provided by operating
activities:
Stock, options and notes issued for       87,789              367,884
compensation and services
Non-cash interest expense, including      18,333              18,333
amortization of debt offering costs
Earnings from Equity Investment           (2,103)             (20,577)
Bad debt expense                          (5,000)             (10,000)
Amortization of technology rights         6,625               6,628
Amortization of patent costs              166                 166
Amortization of website development       5,966               1,724
Amortization of intangible, trademark and 54,770              0
trade name V-Infinity
Inventory reserve                         (30,000)            (15,000)
Depreciation                              143,609             132,521
(Increase) decrease in assets:
Trade accounts receivable                 1,133,052           246,641
Inventory                                 (289,625)           56,880
Prepaid expenses and other current assets (684,307)           174,073
Deposits and other assets                 10,380              44,212
Increase (decrease) in liabilities:
Accounts payable                          (237,010)           321,190
Accrued expenses                          214,090             (164,329)
Accrued compensation                      (25,259)            83,070
Unearned revenue                          123,124             193,009
NET CASH PROVIDED BY OPERATING ACTIVITIES 62,508              364,663
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from Notes receivable            -                   15,831
Purchase of property and equipment        (103,955)           (148,037)
NET CASH (USED IN) INVESTING ACTIVITIES   (103,955)           (132,206)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from (payments to) demand notes  (459,448)           (1,528,900)
payable, net of debt offering costs
Payments on notes and loans payable       -                   (4,000,000)
Payments on notes and loans payable,      -                   (3,000,000)
related party
Payments on convertible notes payable,    -                   (35,000)
related party
Proceeds from sales of common stock, and
exercise of warrants and options, net of  -                   12,605,515
offering
 costs
NET CASH (USED IN) PROVIDED BY FINANCING  (459,448)           4,041,615
ACTIVITIES
EFFECT OF EXCHANGE RATE CHANGES ON CASH   (20,770)            (26,373)
Cash and cash equivalents at beginning of 3,039,840           176,775
year
Cash and cash equivalents at end of       2,518,175           4,424,474
period
NET (DECREASE) INCREASE IN CASH AND CASH  $            $      
EQUIVALENTS                               (521,665)           4,247,699



About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected World . . . . .
CUI Global is a publicly traded platform company dedicated to maximizing
shareholder value through the acquisition and development of innovative
companies and technologies. From its Vergence GasPT2 platform targeting the
energy sector, to its subsidiary CUI Inc's industry leading digital power
platform targeting the networking and telecom industries, CUI Global has 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. CUI
Global prides itself on operating with the same level of integrity, respect,
and philanthropic dedication that was put in place by CUI Inc's founder more
than 20 years ago. It is these values that allow the company to make a
difference in the lives of their customers, their community, their employees,
and their investors. Recently, a move was made to merge and streamline
resources with its subsidiary CUI Inc in order to create a unified,
international brand that now positions CUI Global for further strategic
expansion.

About CUI Inc
CUI Inc is a technology company dedicated to the development,
commercialization, and distribution of new, innovative electro-mechanical
products. Over the past 20 years, CUI has become a recognized name in
electronic components worldwide in the areas of power, interconnect, motion
control, and sound. CUI's solid customer commitment and honest corporate
message are a hallmark in the industry. CUI is a wholly owned subsidiary of
CUI Global, Inc.

For more information, please visit www.cuiglobal.com and www.cui.com.

About Orbital-UK
Orbital-UK is the largest natural gas systems integrator in the U.K. For over
25 years, Orbital has developed its portfolio of products, services and
resources to offer a diverse range of personalized gas engineering solutions
to the gas utilities, power generation, emissions, manufacturing and
automotive industries. Orbital-UK's internationally recognized expertise in
the natural gas industry, including bringing together the patented
VE-technologywith the ground-breaking Vergence® GasPT2 device, offers natural
gas operators and users a comprehensive engineering array for the next
generation of energy metering systems.

For more information, please visit www.orbital-uk.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.

SOURCE CUI Global, Inc.

Website: http://www.cuiglobal.com
Contact: Company Contact: CUI Global, Inc.: Media Contact: Maggie Lefor, Main:
503-612-2300, press@cuiglobal.com; or Investor Relations: CUI Global, Inc.: IR
Coordinator: Nicholas J. Clough, Main: 503-612-2317, Cell: 971-344-0111,
investors@cuiglobal.com; or Outside IR contact: BPC, Financial Marketing, John
Baldissera, 800-368-1217