Universal Electrs Inc Stock Price, News & Analysis

Universal Electronics Inc. (UEIC) reported Q2 2022 financial results showing GAAP net sales of $139.1 million, a decline from $150.5 million in Q2 2021. GAAP gross margins decreased to 28.3% from 29.7%, with a net income of $3.0 million ($0.23 per share), down from $5.6 million ($0.40 per share) year-over-year. For Q3 2022, UEI expects net sales between $145 million and $155 million, anticipating earnings per diluted share of $0.39 to $0.49. The company maintains a long-term growth target of 5% to 10% in sales and 10% to 20% in EPS.

Universal Electronics Inc. (UEIC) has been selected to co-develop and manufacture the PowerView® Gen 3 Remote and Gateway for Hunter Douglas, enhancing their automated shading systems. The new devices utilize Bluetooth Low Energy technology for improved range and reliability, streamlining installation processes. The updated Pebble Remote adds stylish control options for users. This collaboration is expected to strengthen UEI's position in the home automation market, catering to high expectations from dealers and consumers.

Universal Electronics Inc. (NASDAQ: UEIC) will host a conference call on August 4, 2022, at 4:30 p.m. ET to discuss its second quarter 2022 earnings results. Management will provide a comprehensive financial update along with insights into business performance. Investors and interested parties can join the call by dialing 800-715-9871 or 646-307-1963 and using passcode 4661619. The call will also be available for live streaming on their website and will be accessible for replays for up to 90 days.

Universal Electronics Inc. (UEIC) unveiled two new voice remotes at the 2022 RDK Tech Summit, enhancing their offerings in the broadband and pay-TV sectors. These remotes integrate seamlessly with the RDK platform, which is supported by over 30 operators globally. UEI has shipped over 75 million RDK remote controls, solidifying its market leadership. The new designs, named UEI Tatlow and UEI Logan, aim to meet operator needs by providing features like voice control and universal compatibility. UEI is committed to simplifying integration for RDK operators, ensuring faster product launches.

Universal Electronics (UEI) has partnered with Finland-based DNA to introduce the award-winning KITA Android TV remote control. This remote, recognized with a prestigious RedDot award, features Bluetooth Smart and Infrared connectivity, voice control, and a backlit keypad. Designed for sustainability, it requires minimal charging, potentially reducing disposable battery use. DNA, which has over 4 million subscribers, aims to enhance customer experiences with the KITA remote, aligning with its focus on environmentally-friendly technology. UEI continues to innovate in smart home and entertainment solutions.

Universal Electronics Inc. (NASDAQ: UEIC), a leader in wireless control solutions for home entertainment, will present at the B. Riley 22nd Annual Institutional Investor Conference on May 25-26, 2022. CEO Paul Arling and CFO Bryan Hackworth are scheduled for a fireside chat at 1:40 PT / 4:40 ET on May 25. The presentation will be available via live webcast and for replay for 90 days on www.uei.com. UEI partners with major companies like Comcast and Samsung, providing innovative control solutions for smart home devices.

Universal Electronics Inc. (UEIC) reported a net loss of $2.9 million for Q1 2022, down from a net income of $7.0 million in Q1 2021. Sales decreased by 12% to $132.4 million, with GAAP gross margins falling to 27.4% from 30.8%. The company expects Q2 sales between $133 million and $143 million, a decline from $150.5 million in the prior year. Despite supply chain challenges, UEI anticipates improved demand for HVAC and home automation products, projecting the second half of 2022 to be their strongest since 2019.

Universal Electronics Inc. (UEIC) will host a conference call on May 5, 2022, at 4:30 p.m. ET to discuss its first quarter 2022 earnings results. The management will provide a financial and business update during the call, which can be accessed in the U.S. at 877-843-0414 and internationally at 315-625-3071. A live broadcast will also be available on the UEI website. Replays will be accessible via telephone for two business days following the call. For more information, visit www.uei.com.