Business
Universal Electronics Reports Financial Results for the First Quarter 2025
SCOTTSDALE, Ariz., May 08, 2025--Universal Electronics Reports Financial Results for the First Quarter 2025
About this update from Universal Electronics Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":200,"url":"https://media.zenfs.com/en/business-wire.com/d53ac5b306d196d757c8ff1f5f7c126d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/nsB7VY42vuSu0_07c8WTQw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQwMDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/d53ac5b306d196d757c8ff1f5f7c126d","width":480,"height":200}},"lazy":false},{"type":"text","content":"SCOTTSDALE, Ariz., May 08, 2025--(BUSINESS WIRE)--Universal Electronics Inc. (UEI) (NASDAQ: UEIC) reported financial results for the three months ended March 31, 2025.","length":167,"tagName":"p"},{"type":"text","content":"Universal Electronics’ Chief Financial Officer Bryan Hackworth stated, "During the first quarter of 2025, we performed well with sales growth in our connected home channel more than offsetting the sales decline in our home entertainment channel, and we expect similar results for the second quarter. Our strategic R&D efforts over the past few years in new growth areas, coupled with a strengthened balance sheet, improved working capital metrics and a more efficient cost structure, provides options from a capital allocation perspective. We currently have approximately 778,000 shares remaining on our share repurchase authorization, and we will begin to buy back shares at an opportunistic price."","length":714,"tagName":"p"},{"type":"text","content":"Chairman of the Board Eric Singer said, "We are pleased to have added key skill sets to our Board in recent weeks with the addition of John Mutch and Michael Burger. The Board is laser focused on improving financial performance and driving enhanced stockholder value while we continue to provide state of the art technology and first class service to our global customers."","length":383,"tagName":"p"},{"type":"text","content":"Financial Results for the Three Months Ended March 31: 2025 Compared to 2024","length":76,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"GAAP and Adjusted Non-GAAP net sales were $92.3 million, compared to $91.9 million.","length":83,"tagName":"p","attribs":{}},{"type":"list","items":[{"val":[{"type":"text","content":"GAAP and Adjusted Non-GAAP net sales in connected home were $31.7 million, compared to...