CUI Global, Inc. (NASDAQ:CUI) Q4 2019 Earnings Conference Call - Final Transcript

Mar 30, 2020 • 05:00 pm ET

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CUI Global, Inc. (NASDAQ:CUI) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, everyone, and welcome to CUI Global Fourth Quarter and Full-Year 2019 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow management's remarks. As a reminder, this conference call is being recorded. A replay of today's call will be available on CUI Global's website later today and will remain posted there for the next 90 days.

I will now hand the call over to Mr. Eckstein of KCSA for introductions and the reading of the safe harbor statement. Please go ahead, sir.

Executive
Scott Eckstein

Thank you, operator. Hello, everyone, and welcome to CUI Global's fourth quarter and full-year 2019 conference call. A copy of the Company's earnings press release and accompanying PowerPoint presentation are available for download on the Events and Presentations page of the Investor Relations section of the CUI Global website.

With us on today's call are Jim O'Neil, Vice Chairman and Chief Executive Officer; Daniel Ford, Chief Financial Officer; and William Clough, Executive Chairman. Today, we will review the highlights and financial results for the fourth quarter and the full-year as well as recent developments. Following these formal remarks, we will be prepared to answer your questions.

I would also like to remind everyone that today's 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, such as the coronavirus, including, among other things, the Company's reliance on third-party manufacturers, suppliers and service providers, government agency budgetary and political constraints; new or increased competition; changes in the 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. These forward-looking statements are based on information available to CUI Global today, and the Company assumes no obligation to update statements as circumstances change.

Now at this time, it is my pleasure to introduce Jim O'Neil, Vice Chairman and CEO of CUI Global. Jim, the floor is yours.

Executive
James F. O'Neil

Thanks Scott, and thank you, everyone for joining us today on our fourth quarter and full-year 2019 earnings conference calls. In October of 2019, CUI Global implemented a transformational strategy to become a diversified energy infrastructure services company. Since then, we have accomplished several key objectives.

First, we sold our domestic Power and Electromechanical operations to strengthen our balance sheet and position CUI Global as a 100% energy services company. Second, in our legacy