Loading...
•
Jun 30, 2020
Universal Electronics Q2 2020 Earnings Report
Reported financial results, showing decreased net sales but increased gross margins and net income compared to the same quarter last year.
Key Takeaways
Universal Electronics reported a decrease in GAAP net sales to $153.1 million compared to $193.9 million in the same quarter last year, but GAAP gross margins increased to 24.9% from 17.5%. GAAP net income was $14.4 million, or $1.02 per diluted share, compared to a net loss of $5.1 million, or $0.37 per share, in the prior year.
GAAP net sales were $153.1 million, a decrease from $193.9 million.
GAAP gross margins increased to 24.9% from 17.5%.
GAAP operating income was $6.5 million, compared to an operating loss of $3.9 million.
GAAP net income was $14.4 million, or $1.02 per diluted share, compared to a net loss of $5.1 million or $0.37 per share.
Forward Guidance
For the third quarter of 2020, the company expects GAAP net sales to range between $150 million and $160 million and GAAP earnings per diluted share for the third quarter of 2020 are expected to range from $0.53 to $0.63.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...