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Dec 31, 2023
Universal Electronics Q4 2023 Earnings Report
Reported financial results for the fourth quarter and year-end 2023.
Key Takeaways
Universal Electronics reported GAAP net sales of $97.6 million for Q4 2023, compared to $122.8 million in Q4 2022. The GAAP net loss was $7.1 million, or $0.55 per share, compared to $6.9 million, or $0.54 per share in the same quarter last year. The company is focusing on growth areas such as home automation and climate control and executing efficiency initiatives.
GAAP net sales were $97.6 million, compared to $122.8 million.
GAAP gross margins were 28.5%, compared to 26.2%.
GAAP operating loss was $2.6 million, compared to $1.9 million.
GAAP net loss was $7.1 million, or $0.55 per share, compared to $6.9 million, or $0.54 per share.
Forward Guidance
For the first quarter of 2024, the company expects GAAP net sales to range between $86 million and $96 million, compared to $108.4 million in the first quarter of 2023. GAAP loss per share for the first quarter of 2024 is expected to range from $0.88 to $0.78, compared to a GAAP loss per share of $4.81 in the first quarter of 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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