CUI Global FY Loss Narrows, Yet Misses Street; Stock Down 9%

(RTTNews) - Electronic technologies company CUI Global Inc (CUI) Monday reported a net loss of $1.8 million or $0.10 per share for fiscal 2013, compared with a loss of $2.5 million or $0.25 per share last year.

On average, five analysts polled by Thomson Reuters estimated earnings of $0.02 per share for the year. Analysts' estimates typically exclude special items.

The loss in 2013 is due partly due to the non-cash amortization expenses associated with intangible assets acquired with the April 2013 acquisition of Orbital Gas Systems.

The Tualatin, Oregon-based company said its revenues for the year to $60.7 million from $41 million in the prior year. Analysts estimated revenues of $63.1 million for the year.

Growth was mainly due to the acquisition of Orbital Gas Systems Ltd in April 2013, as well as growth at the Power and Electro-Mechanical segment.

CUI Global stock closed Monday at $11.00, up $0.50 or 4.76%, on a volume of 356k shares on the Nasdaq. In after hours, the stock dropped $1.00 or 9.09% at $10.00.