Universal Electronics Q3 net income $7.2M ($0.57 EPS) vs prior loss; Q4 guidance below prior year sales but EPS up

UNIVERSAL ELECTRONICS INC

2022-Q3 EPS reported $0.57 revenue$419,993,000

Q3 GAAP net sales $148.5M (-4.6% YoY); GAAP EPS $0.57 vs ($0.07) loss; adjusted EPS $1.00 vs $1.03.
Gross margin improved to 29.9% GAAP (30.8% adjusted) from 29.4% (30.4%) YoY.
Cash and term deposits $61.9M at Sept 30, 2022; no debt mentioned.
Q4 guidance: GAAP sales $125-140M (down from $144.9M); GAAP EPS $0.37-0.47; adjusted EPS $0.75-0.85.
CEO cites traction in climate control, home automation, security markets offsetting consumer headwinds.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNIVERSAL ELECTRONICS INC reported the nine months ended September 30, 2022 results: revenue $420.0 million, net income $7.3 million, or $0.57 per diluted share, EPS $0.57 per diluted share.

Period: the nine months ended September 30, 2022
Revenue: $420.0 million
Net income: $7.3 million, or $0.57 per diluted share
EPS: $0.57 per diluted share
Result: reported results

Exact text from the filing

30, 2022, cash, cash equivalents and term deposits were $61.9 million. Financial Results for the Nine Months Ended September 30: 2022 Compared to 2021 • GAAP net sales were $420.0 million, compared to $456.7 million; Adjusted Non-GAAP net sales were $420.0 million, compared to $457.1 million. • GAAP gross margins were 28.6%, compared to 30.0%; Adjusted Non-GAAP

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNIVERSAL ELECTRONICS INC reported the three months ended September 30, 2022 results: revenue $148.5 million, net income $7.2 million, or $0.57 per diluted share, EPS $0.57 per diluted share.

Period: the three months ended September 30, 2022
Revenue: $148.5 million
Net income: $7.2 million, or $0.57 per diluted share
EPS: $0.57 per diluted share
Result: reported results

Exact text from the filing

share and position UEI for long-term profitable growth,” concluded Arling. Financial Results for the Three Months Ended September 30: 2022 Compared to 2021 • GAAP net sales were $148.5 million, compared to $155.6 million; Adjusted Non-GAAP net sales were $148.5 million, compared to $155.7 million. • GAAP gross margins were 29.9%, compared to 29.4%; Adjusted Non-GAAP

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Source: SEC EDGAR

accession 0000101984-22-000057

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