Waytronx Announces 2008 Financial Results

* Reuters is not responsible for the content in this press release.

Mon Mar 30, 2009 6:38pm EDT

First year of combined operations between Waytronx and its wholly owned
subsidiary, CUI, produce better than expected EBITDA.

TUALATIN, Ore., March 30 /PRNewswire-FirstCall/ -- Waytronx, Inc. (OTC
Bulletin Board: WYNX), a leading provider of openly licensable advanced
systems cooling solutions and its wholly owned subsidiary, CUI, INC., a
provider of electromechanical components, today announced year-end financial
results for Calendar Year 2008.  

The Company's revenues for the year ended December 31, 2008 were $19.5 million
with an EBITDA of nearly $2.4 million. These results represent the first
calendar year of operations for the combined companies and reflect CUI results
from the date of acquisition in May 2008.  Combined non-GAAP supplemental
disclosure follows this release.

William Clough, chief executive officer, stated, "These results clearly
demonstrate the continuing value of the CUI acquisition to Waytronx and its
shareholders.  Such results, when taken in context with these troubling
financial times, demonstrate the operational efficiencies between the two
companies."  

Clough concluded, "Based on our synergies and in spite of the downturn in the
economy generally, we continue to seek out and acquire new product lines;
identify strategic partnerships; develop new technologies; and institute other
initiatives to streamline our company and enhance profitability."

About Waytronx, Inc.
Waytronx, Inc. has pioneered and is commercializing innovative thermal
management solutions capable of revolutionizing the semiconductor, solar and
electronic packaging industries, among others. Utilizing its patented
WayCool(TM) hybrid mesh architecture, Waytronx can enhance system performance
and remove thermal barriers caused by "microwarming" in today's advanced
computing devices. The Company's proprietary central and graphics processor
solutions, solar energy cooling solutions and power supply cooling solutions
deliver more cost effective and efficient thermal management to the industry.
Waytronx changed its name from OnScreen Technologies in December 2007.
Waytronx acquired CUI, Inc. in May 2008. For more information, please visit
www.waytronx.com.  

About CUI, Inc.
CUI, Inc. 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.  CUI is a wholly-owned
subsidiary of Waytronx, Inc. For more information, please visit www.cui.com. 

EBITDA is a non-GAP financial measure and is reconciled to our GAAP net loss
as follows:

                                                           For the year ended
                                                                December 31,
                                                                     2008
    Net loss                                                    $(1,830,367)
        Plus:  Interest expense - including amortization of
         beneficial conversion value, warrant related debt
         discounts and intrinsic value of convertible debt
         and amortization of debt discount                        2,342,374
        Plus:  Interest expense                                   1,362,416
        Plus:  Depreciation and amortization                        523,706
    EBITDA                                                       $2,398,129





EBTIDA does not represent funds available for management's discretionary use
and is not intended to represent cash flow from operations.  EBITDA should not
be construed as a substitute for net loss or as a better measure of liquidity
than cash flow from operating activities, which is determined in accordance
with United States generally accepted accounting principles ("GAAP").

EBITDA excludes components that are significant in understanding and assessing
our results of operations and cash flows.  In addition, EBITDA is not a term
defined by GAAP and as a result our measure of EBITDA might not be comparable
to similarly titled measures used by other companies.

However, EBITDA is used by management to evaluate, assess and benchmark the
Company's operational results and the Company believes that EBITDA is relevant
and useful information, which is often reported and widely used by analysts,
investors and other interested parties in our industry.  Accordingly, the
Company is disclosing this information to permit a more comprehensive analysis
of its operating performance, to provide an additional measure of performance
and liquidity and to provide additional information with respect to the
Company's ability to meet future debt service, capital expenditure and working
capital requirements.

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.


SOURCE  Waytronx, Inc.

Media: Maggie Lefor, CUI, +1-503-612-2300, info@waytronx.com
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.