UEI Q2 GAAP EPS $0.23 vs $0.40 YoY; revenue falls 7.6% to $139.1M

UNIVERSAL ELECTRONICS INC

2022-Q2 EPS reported $0.01 revenue$271,511,000

GAAP net sales $139.1M, down from $150.5M YoY; adjusted non-GAAP net sales $139.1M vs $150.6M.
GAAP gross margin 28.3% vs 29.7%; adjusted non-GAAP gross margin 29.1% vs 30.5%.
GAAP net income $3.0M ($0.23/diluted share) vs $5.6M ($0.40); adjusted non-GAAP net income $8.4M ($0.66) vs $13.6M ($0.98).
Q3 2022 guidance: GAAP net sales $145–155M (down from $155.6M); adjusted EPS $0.70–0.80 vs $1.03.
Cash and equivalents $54.0M at June 30, 2022; expansion into smart home and HVAC cited as growth driver.

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