Universal Electronics Reports Results for the Second Quarter 2020
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Universal Electronics (UEIC) Tops Q2 EPS by 4c; Offers 3Q Revenue Guidance Below Consensus, 3Q EPS Mid-Point Guidance Below Consensus
August 6, 2020 4:27 PM EDTUniversal Electronics (NASDAQ: UEIC) reported Q2 EPS of $0.89, $0.04 better than the analyst estimate of $0.85. Revenue for the quarter came in at $153.1 million versus the consensus estimate of $153.45 million.
Financial Results for the Three Months Ended June 30: 2020 Compared to 2019
GAAP net sales were $153.1 million, compared to $193.9 million; Adjusted Non-GAAP net sales were $153.3 million, compared to $193.4 million.GAAP gross margins were 24.9%, compared to 17.5%; Adjusted Non-GAAP gross margins were 28.5%, compared to 25.2%.GAAP operating income was $6.5 million, compared to an operating loss of $3.9 million; Adjusted Non-GAAP operating income was $14.5 million, compared to $15.8... More