News Alert: Universal Electronics Inc. (NASDAQ: UEIC)

SCOTTSDALE, Ariz., October 26, 2019 – Shares of Universal Electronics Inc. (NASDAQ: UEIC) declined -1.64% to $49.20. The stock traded total volume of 67.253K shares lower than the average volume of 90.63K shares.

For the second quarter of 2019, Universal Electronics Inc. (UEIC) reported GAAP net sales were $184.20M, compared to $164.70M; Adjusted Non-GAAP net sales were $182.70M, compared to $165.20M. GAAP gross margins were 21.7%, compared to 22.6%; Adjusted Non-GAAP gross margins were 25.8%, compared to 23.9%.

GAAP operating income was $1.70M, compared to $0.90M; Adjusted Non-GAAP operating income was $14.60M, compared to $6.10M. GAAP net loss was $1.00M, or $0.07 per share, compared to a net loss of $0.60M or $0.04 per share; Adjusted Non-GAAP net income was $11.30M, or $0.82 per diluted share, compared to $4.10M, or $0.29 per diluted share. At March 31, 2019, cash and cash equivalents were $44.90M.

Financial Outlook:

For the second quarter of 2019, the company expects GAAP net sales to range between $1800M and $1900M, compared to $162.50M in the second quarter of 2018. GAAP earnings per diluted share for the second quarter of 2019 are expected to range from $0.20 to $0.30, compared to GAAP earnings per diluted share of $1.60 in the second quarter of 2018. During the second quarter of 2018, UEI sold its Guangzhou factory and recognized a gain of $37.00M.

For the second quarter of 2019, the company expects Adjusted Non-GAAP net sales to range between $178.0M and $188.0M, compared to $162.40M in the second quarter of 2018. Adjusted Non-GAAP earnings per diluted share are expected to range from $0.70 to $0.80, compared to Adjusted Non-GAAP earnings per diluted share of $0.15 in the second quarter of 2018. The second quarter 2019 Adjusted Non-GAAP earnings per diluted share estimate excludes $0.50 per share related to, among other things, stock-based compensation, amortization of acquired intangibles, changes in contingent consideration relating to acquisitions, foreign currency gains and losses, excess manufacturing overhead and factory transition costs, recently enacted U.S. tariffs on goods manufactured in China, restructuring costs and the related tax impact of these adjustments.

UEIC has the market capitalization of $695.69M and its EPS growth ratio for the past five years was -0.70%. The return on assets ratio of the Company was -2.80% while its return on investment ratio stands at 8.00%. Price to sales ratio was 0.95 while 91.90% of the stock was owned by institutional investors.

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