---
schema_version: "secwatch.filing_event.v1"
accession: "0000101984-23-000023"
form_type: "8-K"
ticker: "UEIC"
cik: "0000101984"
company_name: "UNIVERSAL ELECTRONICS INC"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T19:19:37.280167+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# UEI Q1 2023 net sales fall 18% YoY; GAAP net loss $61.4M includes $49.1M goodwill impairment

## Summary
- GAAP net sales $108.4M vs $132.4M YoY; GAAP gross margin 22.8% vs 27.4%.
- GAAP operating loss $59.5M (includes $49.1M non-cash goodwill impairment); adjusted non-GAAP operating loss $3.6M.
- GAAP net loss $61.4M ($4.81 per share) vs $2.9M ($0.23); adjusted non-GAAP net loss $3.5M ($0.28 per share).
- Q2 2023 guidance: GAAP net sales $105-115M, GAAP loss per share $0.94-0.84; adjusted non-GAAP loss per share $0.25-0.15.
- Extended credit facility to $125M through April 2024; restructuring Vietnam facility expected to save $15M annually by 2024.

## SEC filing metadata
- accession: 0000101984-23-000023
- form_type: 8-K
- ticker: UEIC
- cik: 0000101984
- company_name: UNIVERSAL ELECTRONICS INC
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/101984/000010198423000023/0000101984-23-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/101984/000010198423000023/ueic-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000101984-23-000023
- JSON: https://secwatch.observer/filing/0000101984-23-000023.json
- Plain text: https://secwatch.observer/filing/0000101984-23-000023.txt

## Key facts
- Earnings Releases
  UNIVERSAL ELECTRONICS INC reported first quarter ended March 31, 2023 results: revenue $108.4 million, net income $3.5 million, EPS $0.28 per share.
  - Period: first quarter ended March 31, 2023
  - Revenue: $108.4 million
  - Net income: $3.5 million
  - EPS: $0.28 per share
  - Result: reported results
  source text: Financial Results for the Three Months Ended March 31: 2023 Compared to 2022 • GAAP net sales were $108.4 million, compared to $132.4 million; Adjusted Non-GAAP net sales were $108.4 million, compared to $132.4 million. • GAAP gross margins were 22.8%, compared to 27.4%; Adjusted Non-GAAP gross margins were 25.4%, compared to 28.9%. • GAAP operating loss was $59.5 million, including a $49.1 million non-cash charge for goodwill impairment, which resulted from a decline in the company’s market capitalization, compared to $0.6 million; Adjusted Non-GAAP operating loss was $3.6 million, compared to Adjusted Non-GAAP operating income of $7.8 million. • GAAP net loss was $61.4 million, including the aforementioned non-cash charge, or $4.81 per share, compared to $2.9 million or $0.23 per share; Adjusted Non-GAAP net loss was $3.5 million, or $0.28 per share, compared to Adjusted Non-GAAP net income $6.1 million, or $0.47 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/101984/000010198423000023/0000101984-23-000023-index.htm
- Earnings Releases
  UNIVERSAL ELECTRONICS INC reported second quarter of 2023 results: revenue from $105 million and $115 million, EPS range from $0.25 to $0.15. Guidance initiated.
  - Period: second quarter of 2023
  - Revenue: from $105 million and $115 million
  - EPS: range from $0.25 to $0.15
  - Guidance: initiated
  - Result: guidance update
  source text: Financial Outlook For the second quarter of 2023, the company expects GAAP net sales to range between $105 million and $115 million, compared to $139.1 million in the second quarter of 2022. GAAP loss per share for the second quarter of 2023 is expected to range from $0.94 to $0.84, compared to GAAP earnings per diluted share of $0.23 in the second quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/101984/000010198423000023/0000101984-23-000023-index.htm
- Earnings Releases
  UNIVERSAL ELECTRONICS INC reported second quarter of 2023 results: revenue from $105 million and $115 million, EPS range from $0.25 to $0.15. Guidance initiated.
  - Period: second quarter of 2023
  - Revenue: from $105 million and $115 million
  - EPS: range from $0.25 to $0.15
  - Guidance: initiated
  - Result: guidance update
  source text: For the second quarter of 2023, the company expects Adjusted Non-GAAP net sales to range from $105 million and $115 million, compared to $139.1 million in the second quarter of 2022. Adjusted Non-GAAP loss per share is expected to range from $0.25 to $0.15, compared to Adjusted Non-GAAP earnings per diluted share of $0.66 in the second quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/101984/000010198423000023/0000101984-23-000023-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.