Sales and Revenue - For the year ended December 31, 2023, sales to Daikin Industries Ltd. accounted for 14.0% of net sales, while sales to Comcast Corporation accounted for 14.0% of net sales[37]. - Net sales decreased by 22.5% to $420.5 million in 2023 from $542.8 million in 2022[192]. - Net sales for 2023 were $420.5 million, a decrease of 22.5% compared to $542.8 million in 2022, primarily due to lower customer demand in the home entertainment channel[218]. - The company expects to see increased sales in the second half of 2024, consistent with historical trends influenced by the retail sales cycle[78]. Product Development and Technology - The company has focused on developing its QuickSet® technology, which enables universal device setup and interoperability, and is used by major customers like Comcast and LG Electronics[30]. - The latest QuickSet release includes expanded functionality for whole home audio and personalized recommendations, enhancing user engagement[31]. - UEI's TIDE smart thermostat platform supports various connectivity technologies, including Matter, and is designed for HVAC OEMs and hospitality applications[33]. - The company is actively participating in the Matter specification to enhance interoperability across smart home devices and announced new Matter-supported products at CES 2024[46]. - UEI's engineering efforts in 2023 included software updates for QuickSet and integration of the UEI Virtual Agent for improved device onboarding and troubleshooting[45]. - The company plans to broaden home control and home automation product offerings to acquire new customers[192]. Manufacturing and Operations - The company operates vertically integrated manufacturing and assembly factories in the PRC, Vietnam, Mexico, and Brazil, allowing for regional production and scalability to meet growing demand[53]. - In 2023, the company opened a new factory in Vietnam, which began operations in June 2023, and ceased manufacturing in its southwestern China factory in September 2023[54]. - The company plans to downsize its Mexico operations and move to a smaller, more efficient facility expected to commence in Q2 2024[54]. - The company expects continued improvement in production efficiencies at the new Vietnam factory as it scales operations[219]. Financial Performance - Gross profit percentage decreased to 23.2% in 2023 from 28.1% in 2022[192]. - Operating loss was $85.3 million in 2023 compared to operating income of $14.5 million in 2022, with an operating loss percentage of 20.3%[192]. - Operating expenses as a percentage of sales increased to 43.5% in 2023 from 25.4% in 2022[192]. - The cost of sales increased to 76.8% of net sales in 2023, up from 71.9% in 2022, contributing to the overall decline in gross profit[217]. - Goodwill impairment was recorded at 11.7% of net sales in 2023, reflecting a significant decline in financial performance[217]. Environmental and Social Responsibility - The company is committed to reducing environmental impact and has implemented policies to monitor and manage waste generation and energy consumption[58]. - The company has invested in R&D to improve energy efficiency, including low energy IR-engine technology to extend battery life[66]. - The company has a product refurbishment program that reclaims, refurbishes, and recycles pre-owned remote controls[67]. - The company is compliant with the RoHS and REACH directives in the European Union, ensuring the reduction of hazardous substances in products[65]. - The company has adopted the Responsible Business Alliance Code of Conduct to ensure ethical labor practices and compliance with human rights standards[59]. Risks and Challenges - The company faces risks from economic conditions, including supply chain disruptions and rising inflation, which could adversely affect its operations[87][88]. - Cybersecurity threats are a significant concern, with the company investing in measures to protect data integrity and mitigate risks[89][91]. - The company may face delays in technology development, which could adversely affect financial performance and competitive positioning[94]. - Labor disputes in Brazil, Mexico, and Vietnam could lead to production slowdowns, impacting delivery schedules and reputation[110]. - The company is experiencing difficulties in ordering integrated circuits (ICs), which may impact production and revenue targets[107]. Market Strategy and Competition - UEI's market strategy includes targeting the growing demand for smart home and IoT products, with a focus on energy efficiency and consumer convenience[42]. - The company competes on the basis of product quality, enhanced features, and intellectual property, emphasizing the need for continuous innovation[44]. - The home security and automation industry is highly competitive, with significant pricing pressures from established brands and DIY providers[113]. - The company derives substantial revenue from remote controls, sensors, and home automation products, with potential competition from emerging control technologies[93]. Human Resources - As of December 31, 2023, the company employed 4,177 staff globally, with 3,127 in manufacturing and supply chain roles[71]. - As of December 31, 2023, labor unions represent approximately 20.0% of the company's 4,177 employees[76]. - The company faces intense competition for qualified talent in the technology industry, which may impact its ability to attract and retain key employees[116]. Compliance and Legal Matters - The company is subject to various laws and regulations regarding employee relationships, which vary by location[76]. - Compliance with complex domestic and foreign laws and regulations poses ongoing risks that could adversely affect the company's financial condition[130]. - The company faces potential litigation risks related to product liability and patent infringement, which could result in substantial legal costs[133].

Universal Electronics Inc. (NASDAQ:UEIC) Q4 2023 Results Conference Call February 15, 2024 4:30 PM ET Company Participants Kirsten Chapman - LHA, Investor Relations Paul Arling - Chairman & CEO Bryan Hackworth - Chief Financial Officer & Senior VP Conference Call Participants Steven Frankel - Rosenblatt Securities Greg Burns - Sidoti Jeff Van Sinderen - B. Riley Operator Good day, and thank you for standing by. Welcome to Universal Electronics Fourth Quarter 2023 Financial Results Conference Call. At this t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q _______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-21044 _______________________________________ UNIVERSAL ELECTRONICS INC. (Exact Name ...

Universal Electronics Inc. (NASDAQ:UEIC) Q3 2023 Earnings Conference Call November 2, 2023 4:30 PM ET Company Participants Kirsten Chapman - MD/Principal SF, LHA, IR Paul Arling - Chairman & CEO Bryan Hackworth - CFO Conference Call Participants Steve Franco - Rosenblatt Securities Greg Burns - Sidoti Operator Good day, and thank you for standing by. Welcome to the Universal Electronics Third Quarter 2023 Financial Results Conference Call. At this time, all participants are in listen-only mode. After the sp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q _______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-21044 _______________________________________ UNIVERSAL ELECTRONICS INC. Indicate by check ...

Universal Electronics Inc. 23rd Annual B. Riley Securities Institutional Investor Conference as of March 31, 2023 May 24, 2023 SAFE HARBOR STATEMENT This presentation contains "forward-looking statements" within the meaning of federal securities laws, including net sales, profit margin and earnings trends, estimates and assumptions; our expectations about new product introductions; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q _______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-21044 _______________________________________ UNIVERSAL ELECTRONICS INC. (Exact Name of R ...

Universal Electronics Inc. (NASDAQ:UEIC) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET Company Participants Kirsten Chapman - LHA Investor Relations Paul Arling - Chairman and CEO Bryan Hackworth - Senior Vice President and CFO Conference Call Participants Gregory Burns - Sidoti & Co LLC Brian Ruttenbur - Imperial Capital, LLC Operator Good day, and thank you for standing by. Welcome to the Universal Electronics First Quarter 2023 Financial Results Conference Call. At this time, all participants a ...

Sales Performance - Sales to Comcast Corporation accounted for 14.5% of net sales in 2022, down from 20.1% in 2020[33]. - Sales to Daikin Industries Ltd. represented 14.4% of net sales in 2022, an increase from 11.8% in 2021[33]. - Net sales decreased by 9.8% to $542.8 million in 2022 from $601.6 million in 2021[182]. - Net sales for 2022 were $542.8 million, a decrease of 9.8% compared to $601.6 million in 2021, primarily due to lower customer demand and component shortages[206]. Financial Performance - Gross profit percentage decreased to 28.1% in 2022 from 28.8% in 2021[182]. - Operating income decreased to $14.5 million in 2022 from $23.3 million in 2021, with an operating margin percentage of 2.7% in 2022 compared to 3.9% in 2021[182]. - Effective tax rate increased to 96.4% in 2022 from 67.0% in 2021[182]. - Net income for 2022 was $0.4 million, down from $5.3 million in 2021[219]. - Net cash provided by operating activities was $10.9 million in 2022, a decrease from $40.3 million in 2021[219]. - Cash and cash equivalents as of December 31, 2022, were $66.7 million, an increase from $60.8 million in 2021[215]. Research and Development - The company has invested in R&D to improve energy efficiency in battery-operated products, including low energy IR-engine technology[64]. - Research and development expenses increased by 5.0% to $32.5 million in 2022, reflecting a focus on expanding the product portfolio in growth channels[208]. - The company introduced four Matter-certified solutions in January 2023, enhancing interoperability across smart home devices[44]. Manufacturing and Supply Chain - The company operates vertically integrated manufacturing and assembly factories in the PRC, Mexico, and Brazil, with plans to commence operations in a new facility in Vietnam in 2023[51]. - The company aims to reduce reliance on a PRC-based supply chain by diversifying manufacturing locations and has leased factory space in Vietnam to enhance production flexibility[52]. - The company is experiencing difficulties in ordering integrated circuits (ICs), which may affect production and ability to meet customer demand[110]. - The company operates in a supply-constrained environment and is heavily reliant on third-party suppliers for key components, which could impact financial performance[107]. Market and Competition - The company competes on the basis of product quality, enhanced features, and intellectual property in the home entertainment market[40]. - The home security and automation industry is fragmented, with significant competition from established brands and DIY companies, potentially impacting demand for the company's products[115]. - The company derives substantial revenue from remote controls and sensors, but competition from new technologies may decrease demand for its products[93]. Strategic Initiatives - Strategic objectives for 2023 include increasing new product development in the HVAC OEM channel and expanding the QuickSet software platform[182]. - The company plans to explore acquisitions or strategic partnerships to strengthen its existing business[182]. - The company has a history of strategic acquisitions to support growth, but successful integration of these acquisitions is critical to realizing expected returns[117]. Risks and Challenges - The company faces risks related to supply chain disruptions, labor shortages, and rising inflation, which could adversely affect its financial condition[84]. - The company is subject to various risks that could materially affect its business and financial results, including economic downturns and geopolitical tensions[83]. - Cybersecurity threats are a significant concern, with the company increasing investments to enhance the security of its systems and comply with evolving regulations[90]. - The company is subject to regulatory risks related to forced labor legislation, which could adversely affect its business and financial condition[105]. Environmental and Compliance - The company is committed to reducing environmental impact and has implemented policies for waste management and energy consumption across its manufacturing facilities[56]. - The company has achieved ISO certifications for quality management (ISO 9001:2015) and environmental management (ISO 14001:2015) across its manufacturing facilities[55]. - The company has established ESG goals, and failure to meet these could adversely affect reputation and financial performance[140]. Workforce and Labor Relations - The company employs 4,658 staff globally, with 3,383 in manufacturing and supply chain roles, highlighting a significant workforce dedicated to production[68]. - Approximately 29.0% of employees are represented by labor unions, indicating a structured labor relationship in regions like Mexico and Brazil[73]. - Approximately 1,400 employees in Brazil and Mexico are represented by labor unions, and disputes could lead to production slowdowns, impacting delivery schedules and potentially harming the company's reputation[112]. Economic Conditions - The company anticipates utilizing cash flows from operations and a revolving line of credit for ongoing operations and potential acquisitions[213]. - The company is sensitive to global economic conditions, and adverse changes may impact net sales, cash flow, and overall financial condition[156]. - The company anticipates utilizing cash flows from operations and a revolving line of credit for ongoing operations and potential acquisitions[213].

Call Start: 16:30 January 1, 0000 5:20 PM ET Universal Electronics Inc. (NASDAQ:UEIC) Q4 2022 Earnings Conference Call February 16, 2023 16:30 ET Company Participants Kirsten Chapman - Investor Relations Paul Arling - Chairman & Chief Executive Officer Bryan Hackworth - Chief Financial Officer Conference Call Participants Greg Burns - Sidoti Jeff Van Sinderen - B. Riley Steven Frankel - Rosenblatt Brian Ruttenbur - Imperial Capital Operator Good day and thank you for standing by. Welcome to the Universal El ...