The 10-second takeaway
For the quarter ended March 31 (Q1), Universal Electronics beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded. Non-GAAP earnings per share expanded significantly. GAAP earnings per share grew significantly.
Margins increased across the board.
Universal Electronics reported revenue of $114.7 million. The five analysts polled by S&P Capital IQ looked for sales of $108.1 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $103.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.26. The five earnings estimates compiled by S&P Capital IQ anticipated $0.22 per share. Non-GAAP EPS of $0.26 for Q1 were 37% higher than the prior-year quarter's $0.19 per share. GAAP EPS of $0.19 for Q1 were 73% higher than the prior-year quarter's $0.11 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 28.4%, 110 basis points better than the prior-year quarter. Operating margin was 3.4%, 120 basis points better than the prior-year quarter. Net margin was 2.6%, 100 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $121.2 million. On the bottom line, the average EPS estimate is $0.41.
Next year's average estimate for revenue is $485.6 million. The average EPS estimate is $1.67.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 117 members out of 123 rating the stock outperform, and six members rating it underperform. Among 32 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 32 give Universal Electronics a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Universal Electronics is outperform, with an average price target of $23.00.
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