Universal Electronics Inc. (NASDAQ:UEIC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Universal Electronics Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.63% to $0.47 in the quarter versus EPS of $0.41 in the year-earlier quarter.
Revenue: Rose 16.62% to $136.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Universal Electronics Inc. reported adjusted EPS income of $0.47 per share. By that measure, the company beat the mean analyst estimate of $0.41. It beat the average revenue estimate of $127.04 million.
Quoting Management: Paul Arling, UEI’s Chairman and CEO, stated: “We delivered better than expected second quarter 2013 results primarily due to strong sales in our subscription broadcasting business, especially in the U.S. and Latin America, as well as our consumer electronics OEM business. UEI is the market leader in wireless control technology for the connected home, but we are not stopping there; we are supplying the innovative solutions that address future evolutions in home entertainment. Our core business continues to grow as our customers are including more advanced technologies into their products, such as Bluetooth-enabled remote controls and onscreen navigation for televisions, which drives demand for a wide variety of UEI solutions. We continue to gain traction with our embedded app technologies such as UEI QuickSet and Control Plus as we work with some of the world’s largest smart device companies. In fact, we expect to launch our embedded app technologies with mobile, IPTV and game console companies later in 2013 and into next year. With our market position, market approach and expanding market opportunity, we believe the future has never looked brighter.”
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