CUI Global has reported its unaudited second quarter 2016 financial results. Earlier in the year the company entered into an agreement for hardware development with Virtual Power Systems (VPS), a software defined company. The two companies partnered up to set a new standard for an efficient power infrastructure for data centers.
According to the company the second quarter 2016 highlights are as follows:
William Clough, president and CEO of CUI Global says the company’s strong performance for this quarter reflects new contract awards, coupled with continued execution on their multi-year contract with Sname Rete.
"Growing industry adoption of our gas systems solutions drove Energy segment revenues up 23% year-over-year,” says Clough.
“P&EM backlog was stable relative to the prior quarter despite continued weakness in the electronics industry,” he adds.
“Subsequent to the close of the quarter, our P&EM segment entered into an expanded partnership with VPS that elevates us as the key hardware supplier enabling VPS' penetration of the data center space.”