Universal Electronics reported a decrease in GAAP net sales to $91.9 million compared to $108.4 million in the same period last year. The company experienced a GAAP operating loss of $6.9 million, an improvement from the $59.5 million loss in the prior year, which included a significant non-cash charge for goodwill impairment. Despite the sales decline, gross margins increased significantly year-over-year, and the company repurchased approximately 95,000 shares for $0.8 million.