Universal Electronics (UEIC) Misses Q1 EPS by 4c

Universal Electronics (NASDAQ: UEIC) reported Q1 EPS of $0.50, $0.04 worse than the analyst estimate of $0.54. Revenue for the quarter came in at $151.5 million versus the consensus estimate of $159.59 million.

Paul Arling, UEI's Chairman and CEO, stated, “For the first quarter 2016, we reported adjusted pro forma net sales growth of 14% and adjusted pro forma EPS growth of 9% over the same quarter last year. Our subscription broadcasting business continues to benefit from the increasing adoption of advanced products and technologies by the world’s largest home entertainment companies. We’ve also made progress in bringing our new suite of intelligent home sensing solutions to market as we signed an exclusive distribution agreement with Interlogix to enhance our penetration of the residential and commercial security sales channel.”

“Throughout 2016, we plan to introduce an exciting line-up of new home security, monitoring and control solutions. These new products combine with our home entertainment control solutions, enabling us to provide our customers with a more complete smart home solution. As the Internet of Things allows more devices to be included within the home control arena, UEI’s products and technologies are enabling consumers to more easily control and interact with their entertainment and home security products.”

GUIDANCE:

Universal Electronics sees Q2 2016 EPS of $0.71-$0.81, versus the consensus of $0.76. Universal Electronics sees Q2 2016 revenue of $167-175 million, versus the consensus of $159.5 million.

For earnings history and earnings-related data on Universal Electronics (UEIC) click here.

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