Universal Electronics Inc. · Q4 2021 earnings

Briefing

Reported financial results for Q4 and year-end 2021, facing supply chain challenges and material shortages.

Universal Electronics reported a decrease in GAAP net sales to $144.9 million compared to $156.3 million in the same quarter of the previous year. The company experienced a GAAP net loss of $6.3 million, or $0.49 per share, a significant change from the net income of $12.2 million, or $0.86 per diluted share, in the prior year. Despite near-term headwinds, the company remains optimistic about long-term growth due to product innovation and customer service.

• GAAP net sales decreased to $144.9 million from $156.3 million year-over-year.
• GAAP operating loss was $3.3 million, compared to an operating income of $12.5 million in the prior year.
• GAAP net loss was $6.3 million, or $0.49 per share, compared to a net income of $12.2 million, or $0.86 per diluted share, in the same quarter last year.
• Cash and cash equivalents were $60.8 million as of December 31, 2021.

Headline financials

Revenue & EPS history

For the first quarter of 2022, the company expects GAAP net sales to range between $135 million and $145 million, compared to $150.5 million in the first quarter of 2021. GAAP earnings per diluted share for the first quarter of 2022 are expected to range from ($0.05) to $0.05, compared to GAAP earnings of $0.49 in the first quarter of 2021.