CUI Global, Inc. (NASDAQ:CUI) Q2 2019 Earnings Conference Call - Final Transcript

Aug 09, 2019 • 08:30 am ET


CUI Global, Inc. (NASDAQ:CUI) Q2 2019 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Second Quarter 2019 CUI Global Inc Financial Results Conference Call. [Operator Instructions]

It is now my pleasure to introduce Investor Relations Counsel, Sanjay Hurry.

Sanjay M. Hurry

Thank you, operator. Good morning, and welcome to CUI Global's second quarter 2019 results conference call. A copy of the company's earnings press release and accompanying PowerPoint presentation are available for download on the Events & Presentations page of the Investor Relations section of the CUI Global website.

With us on the call today are William Clough, President and Chief Executive Officer; and Daniel Ford, Chief Financial Officer. The purpose of today's call is to review the company's financial results for the second quarter and to provide you with management's perspective on the balance of fiscal 2019. Following management's remarks, the call will be opened to question-and-answers. A telephonic replay of this call will be made available until the 25th of August. You may also access the archived webcast and accompanying PowerPoint at any time on the Investor Relations section of the CUI Global website.

As a reminder, this call will contain certain forward-looking statements made within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and 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 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, the company's 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 liability of its products. These factors and others could cause operating results to vary significantly from those in prior periods and to 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.

Before turning over the call to management, please note that both Bill and Dan will be in attendance at the 18th Annual D.A. Davidson Industrials & Services Conference in Chicago on September 18.

With that said, I'd like to hand the call over to William Clough, Chief Executive Officer. Good morning, Bill.

William J. Clough

Thank you, Sanjay. Good morning, everyone, and thank you for joining our call today. I'll begin this morning by touching on some highlights from our second quarter results and an update on the strategy we unveiled last quarter to create an energy infrastructure services company. Following my remarks, Dan Ford, our Chief Financial Officer, will provide you with a review of certain of our results for the second quarter and offer insight into actions taken during the quarter to rightsize costs to anticipated revenue. Following Dan's remarks, I will provide an update on some of our other initiatives, including news we