Universal Electronics Reports Results for the First Quarter 2020
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Universal Electronics (UEIC) Misses Q1 EPS by 2c, Revenues Miss; Offers 2Q EPS/Revenue Guidance Below Consensus
May 7, 2020 4:17 PM EDTUniversal Electronics (NASDAQ: UEIC) reported Q1 EPS of $0.81, $0.02 worse than the analyst estimate of $0.83. Revenue for the quarter came in at $152 million versus the consensus estimate of $168.22 million.
Financial Results for the Three Months Ended March 31: 2020 Compared to 2019
GAAP net sales were $151.8 million, compared to $184.2 million; Adjusted Non-GAAP net sales were $152.0 million, compared to $182.7 million.GAAP gross margins were 28.3%, compared to 21.7%; Adjusted Non-GAAP gross margins were 30.9%, compared to 25.8%.GAAP operating income was $8.0 million, compared to $1.7 million; Adjusted Non-GAAP operating income was $15.0 million, compared to $14.6 million.GAAP net... More