Universal Electronics (UEIC) Reports In-Line Q3 EPS, Revenues miss; Offers Q4 EPS/Revenue Outlook Below Consensus

Universal Electronics (NASDAQ: UEIC) reported Q3 EPS of $0.69, in-line with the analyst estimate of $0.69. Revenue for the quarter came in at $184.7 million versus the consensus estimate of $185.08 million.

“During the third quarter, we delivered sales growth, up 5% over third quarter 2017,” said Paul Arling, UEI\'s chairman and CEO. “With our intuitive wireless universal control and sensing, UEI continues to capture expanding global demand for home control devices. Additionally, product advancements as well as proactive operational measures are fortifying customer relationships.

“Our innovation has expanded our presence in home automation products and technologies, which we expect to generate more than $130 million in net sales in 2018 and increase in contribution in 2019. Building on our growing cloud-enabled systems, at the International CES 2019, we plan to introduce a new voice-enabled AI product platform that promises to unify entertainment control and home automation experience. Ultimately, we provide what consumers want, the connected home,” concluded Arling.

GUIDANCE:

Universal Electronics sees Q4 2018 EPS of $0.70-$0.80, versus the consensus of $0.82. Universal Electronics sees Q4 2018 revenue of $180-188 million, versus the consensus of $189.57 million.

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

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