Universal Electronics Q4 sales $97.6M (-20.5%); FY net loss $98.2M with $49.1M goodwill charge

UNIVERSAL ELECTRONICS INC

2023-FY EPS reported -$7.64 revenue$420,457,000

GAAP net sales Q4 $97.6M (-20.5% YoY); FY net sales $420.5M (-22.5% YoY).
GAAP net loss Q4 $7.1M ($0.55 EPS); FY net loss $98.2M ($7.64 EPS) including $49.1M goodwill impairment.
Adjusted non-GAAP net income Q4 $0.9M ($0.07 diluted EPS) vs $5.6M ($0.44) prior year.
Q1 2024 guidance: net sales $86M-$96M; adjusted non-GAAP loss per share ($0.27)-($0.17).
Federal Circuit affirmed Roku's infringement of UEI patent; UEI to seek monetary damages in district court.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNIVERSAL ELECTRONICS INC updated its three and twelve months ended December 31, 2023 guidance (initiated).

Period: three and twelve months ended December 31, 2023
Guidance: initiated
Result: reported results

Exact text from the filing

On February 15, 2024, Universal Electronics Inc. ("UEI") issued a press release reporting financial results for the fourth quarter and full year ended December 31, 2023 and certain other information.

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Source: SEC EDGAR

accession 0000101984-24-000038

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