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Universal Electronics(UEIC) - 2022 Q1 - Quarterly Report
2022-05-05 23:29
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q _______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR Commission File Number: 0-21044 _______________________________________ UNIVERSAL ELECTRONICS INC. (Exact Name of R ...
Universal Electronics (UEIC) Presents At Sidoti Spring Small Cap Virtual Conference
2022-03-31 18:37
Universal Electronics Inc. Sidoti & Company Small Cap Virtual Conference March 23 -24, 2022 SAFE HARBOR STATEMENT This presentation This presentation and accompanying schedules contain "forward-looking statements" within the meaning of federal securities laws, including net sales, profit margin and earnings trends, estimates and assumptions; our expectations about new product introductions; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution ...
Universal Electronics(UEIC) - 2021 Q4 - Annual Report
2022-03-04 21:39
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-21044 _______________________________________ UNIVERSAL ELECTRONICS INC. (Ex ...
Universal Electronics(UEIC) - 2021 Q4 - Earnings Call Transcript
2022-02-18 02:37
Financial Data and Key Metrics Changes - For Q4 2021, net sales were $143.9 million, down from $156.4 million in Q4 2020, attributed to global supply and logistics issues [35] - Gross profit for Q4 2021 was $40.9 million, or 28.4% of sales, compared to $52.6 million, or 33.6% in Q4 2020, impacted by inflationary pressures and a weaker U.S. dollar against the Chinese yuan [36] - Full year 2021 revenue was $601 million, with a gross margin of 30.2% and net income of $49.4 million, or $3.59 per share, compared to $615.4 million, 30.8% gross margin, and $53.3 million, or $3.76 per share in 2020 [39] Business Line Data and Key Metrics Changes - The company continues to execute its channel strategy by partnering with industry leaders such as Samsung, Sony, and LG, which collectively represent about 40% of the world's televisions [17] - In the consumer electronics sector, the company has established relationships with major video service providers like Comcast and Vodafone, which are expected to drive future sales [17][19] Market Data and Key Metrics Changes - The company is experiencing ongoing supply chain constraints that are affecting sales, with customers truncating orders due to their inability to procure necessary parts for companion products [51] - The company anticipates that supply chain issues will begin to ease in the back half of 2022, coinciding with several customer and product wins scheduled to ship [42] Company Strategy and Development Direction - The company aims to connect the home by blending entertainment with smart home control, focusing on innovative product solutions introduced at CES 2022 [14] - The company is expanding its product offerings in smart home technologies, including a new line of ultra-low power and energy harvesting remote controls designed for sustainability [26][28] - The company is confident that its product introductions are well-timed to meet growing environmental concerns and corporate mandates for sustainability [27] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the current environment is challenging due to semiconductor supply issues and logistics constraints, but remains optimistic about long-term growth prospects [44] - The company expects to grow in 2022, with several product wins scheduled to ship in the latter half of the year, despite a weaker first half [63] Other Important Information - The company recently won a legal case against Roku, resulting in a limited exclusion order preventing Roku from importing products using the company's technology [31] - The company plans to repurchase an additional 300,000 shares contingent on price over the next few months, reflecting confidence in its intrinsic value [41] Q&A Session Summary Question: Impact of supply chain constraints on revenue - Management indicated that supply chain issues have consistently impacted sales, with customers truncating orders due to parts shortages [51] Question: Details on Roku litigation - The company is pursuing two district court cases against Roku, with potential monetary damages as a remedy [54] Question: Guidance for 2022 - Management expects growth in 2022, but does not anticipate matching 2021 levels due to ongoing supply chain challenges [64] Question: Demand trends in consumer electronics - Management noted that while some customers are experiencing demand, semiconductor shortages are limiting their ability to order more products [66] Question: Supply chain headwinds quantification - Management estimated that supply chain issues could account for about 10% of sales, with some customers unable to order additional units due to their own shortages [74] Question: Outlook for gross margins - Management expects gross margins to improve in the back half of the year due to price increases, but inflation and foreign exchange rates remain variables [90] Question: New product contributions in the second half - Management highlighted multiple new product wins but refrained from predicting which would be most successful, emphasizing the strength of their partnerships [102]
Universal Electronics (UEIC) Investor Presentation - Slideshow
2021-12-15 21:23
Universal Electronics Inc. Q3 2021 As of November 4, 2021 SAFE HARBOR STATEMENT This presentation This presentation and accompanying schedules contain "forward-looking statements" within the meaning of federal securities laws, including net sales, profit margin and earnings trends, estimates and assumptions; our expectations about new product introductions; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not ...
Universal Electronics(UEIC) - 2021 Q3 - Earnings Call Transcript
2021-11-07 10:40
Universal Electronics Inc. (NASDAQ:UEIC) Q3 2021 Earnings Conference Call November 4, 2021 4:30 PM ET Company Participants Kirsten Chapman - Investor Relations Paul Arling - Chairman and Chief Executive Officer Bryan Hackworth - Senior Vice President and Chief Financial Officer Conference Call Participants Jeff Van Sinderen - B. Riley & Co. Steve Frankel - Colliers Securities LLC Gregory Burns - Sidoti & Co LLC Operator Good day, and thank you for standing by. Welcome to Universal Electronics Q3 2021 Financ ...
Universal Electronics(UEIC) - 2021 Q3 - Quarterly Report
2021-11-04 22:55
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q _______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-21044 _______________________________________ UNIVERSAL ELECTRONICS INC. (Exact Name ...
Universal Electronics(UEIC) - 2021 Q2 - Earnings Call Transcript
2021-08-08 13:47
Universal Electronics Inc. (NASDAQ:UEIC) Q2 2021 Earnings Conference Call August 5, 2021 4:30 PM ET Company Participants Kirsten Chapman - Investor Relations, LHA Paul Arling - Chairman & Chief Executive Officer Bryan Hackworth - Chief Financial Officer Conference Call Participants Richard Magnusen - B. Riley & Co. Greg Burns - Sidoti & Company Operator Good day and thank you for standing by. Welcome to the Universal Electronics Second Quarter 2021 Financial Results Conference Call. At this time, all partic ...
Universal Electronics(UEIC) - 2021 Q2 - Quarterly Report
2021-08-05 21:43
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 For the quarterly period ended June 30, 2021 FORM 10-Q _______________________________________ OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-21044 _______________________________________ UNIVERSAL ELECTRONICS INC. (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check ...
Universal Electronics (UEIC) Presents At 16th Annual Needham Virtual Technology and Media Conference - Slideshow
2021-05-24 15:47
Universal Electronics Inc. 16th Annual Needham Virtual Technology & Media Conference May 19, 2021 1 SAFE HARBOR STATEMENT This presentation and accompanying schedules contain "forward-looking statements" within the meaning of federal securities laws, including net sales, profit margin and earnings trends, estimates and assumptions; our expectations about new product introductions; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that ...