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Waytronx Subsidiary, CUI Inc, Reports Third Quarter New Sales Orders of $12,011,947 – Up 67% Year-Over-Year
Date : 10/12/2010 @ 5:30AM
Source : Business Wire
Stock : Waytronx, Inc. (WYNX)
Quote : 0.295 0.0449 (17.95%) @ 4:01PM


Waytronx Subsidiary, CUI Inc, Reports Third Quarter New Sales Orders of $12,011,947 – Up 67% Year-Over-Year
Waytronx (BB) (OTCBB:WYNX)
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Today : Tuesday 12 October 2010
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Waytronx, Inc. (OTCBB: WYNX), a platform company dedicated to the acquisition, development, and commercialization of new, innovative technologies today announced that its wholly owned subsidiary, CUI Inc, a provider of electromechanical components, posted new sales orders for the third quarter ended September 30, 2010.

For the three months ended September 30, 2010, CUI received new sales orders in the amount of $12,011,947. These numbers represent a 67% year-over-year increase in new orders, up from $7,204,228 in the third quarter 2009.

Significantly, the year-to-date numbers also reflect a dramatic increase to $32,176,698 in sales orders through September 30, 2010 from $19,237,430 in 2009. This represents a growth rate of more than 67% or up $12,939,267.

As explained by William Clough, Waytronx’s president and CEO, “We continue to be encouraged by these numbers and the trend in growth. The performance numbers continue to demonstrate the effectiveness of our calculated decision to build out infrastructure and engineering support, along with restructuring the company and expanding our sales representative network.”

“These results clearly evidence the fact that we continue to see an increase in new sales orders which, in turn, will result in increased revenues, profitability and our EPS,” Clough stated. “This growth in new sales orders increases our confidence that the acquisitions and initiatives we have implemented since May 2008 will continue to produce positive results in revenue growth, profitability, and increased shareholder value,” concluded Clough.

About Waytronx, Inc.

Waytronx, Inc. has pioneered and is developing innovative thermal management solutions capable of revolutionizing the semiconductor, solar and electronic packaging industries, among others, utilizing its patented WayCool™/WayFast™ hybrid mesh architecture. In addition, through its acquisition of CUI in May 2008, Waytronx has developed the infrastructure, expertise, and platform necessary to acquire, develop, and commercialize new technologies. For its part, CUI is a solutions provider of electromechanical components and industrial controls for OEM manufacturing. Since its inception in 1989, CUI has been delivering quality products, extensive application solutions, and superior personal service. CUI’s solid customer commitment and honest corporate message are a hallmark in the industry.

Waytronx also holds CUI-Japan as a wholly owned subsidiary and Comex Electronics as a partially owned subsidiary (49%). CUI-Japan and Comex are Japanese solutions provider of electromechanical components and industrial controls for OEM manufacturing. For more information, please visit www.waytronx.com and www.cui.com.

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.

WayCool, WayFast, Waytronx and OnScreen are trademarks of Waytronx, Inc. Other names and brands are the property of their respective owners.