Welcome to our dedicated page for Universal Electronics news (Ticker: UEIC), a resource for investors and traders seeking the latest updates and insights on Universal Electronics stock.
Universal Electronics Inc. (NASDAQ: UEIC) is a leading innovator in universal control and sensing technologies tailored for the smart home ecosystem. With a robust portfolio of over 300 pending and current patents, UEIC boasts the world's most comprehensive database for connecting and controlling thousands of entertainment viewing devices.
Founded over 25 years ago, the company's mission has always been to revolutionize home entertainment and automation. UEIC designs, develops, manufactures, and ships an impressive variety of more than 500 innovative products. These products are integral to the offerings of top global brands in sectors such as audio-video, subscription broadcasting, connected home, and smart devices like tablets and smartphones.
Beyond entertainment, UEIC has expanded its technological reach. In 2015, the company broadened its platform to include advancements in home automation, intelligent sensing, and security solutions. This forward-thinking approach ensures that UEIC remains at the forefront of the rapidly evolving home technology industry.
One of UEIC's significant strengths is its extensive global network of design and development services. This network enables continuous innovation and improvement of their product lines, cementing the company's reputation as an industry leader. Financially, the majority of UEIC's revenue is generated in the United States, reflecting its strong domestic presence and market trust.
In recent developments, UEIC has embarked on several new projects aimed at enhancing smart home capabilities. These initiatives include advanced climate control systems and next-generation AV accessories, designed to provide consumers with unparalleled control and convenience in their home environments.
UEIC's commitment to innovation and quality has transformed home entertainment and automation technologies, offering consumers seamless, integrated experiences that enhance their everyday lives.
Universal Electronics Inc. (UEIC) has announced the expansion of its QuickSet Widget family with the new QuickSet Widget Pro line-up, featuring the UE72Y and UE72X models. The enhanced product line introduces advanced multi-protocol connectivity including dual-band Wi-Fi 6, Bluetooth 5.3, and support for Matter, Zigbee, and OpenThread Border Router Host services.
The UE72Y model stands out with its high-performance processor capable of Edge AI processing and video stream decoding. The system features advanced security measures including secure boot, encrypted communication, and hardware-based security modules. The product line is pre-integrated with QuickSet 7 and QuickSet homeSense, supporting Matter Controller Multi-Admin capability.
The technology integrates with UEI's QuickSet Cloud and nevo.ai, offering AI-powered support through a virtual agent for real-time device assistance, troubleshooting, and feature discovery. The product will be showcased at CES 2025 at the Venetian Expo, Booth #53023.
Universal Electronics Inc. (UEI) has announced expanded features for its QuickSet 7 SDK and QuickSet Cloud services, to be showcased at CES in January. The platform supports a multi-protocol approach, ensuring seamless integration and control of various smart home devices. QuickSet 7 now includes new capabilities such as OpenThread Border Router Host services, Matter Controller upgrades, and Zigbee Coordinator services.
QuickSet Cloud integrates with QuickSet 7, offering AI-powered device fingerprinting and discovery, trained on a proprietary device knowledge graph. This enhances the platform's ability to manage smart home devices, providing a comprehensive framework for discovery, control, and personalization.
Key highlights include:
- Multi-Protocol Support: Supports Wi-Fi, Zigbee, Bluetooth, Thread, and Infrared.
- Device Knowledge Graph: Includes over 25 million unique fingerprints from nearly 1 million devices.
- Control Engines: Enables on-device discovery and control through various protocols.
- Interoperability as a Service: Ensures compatibility with existing smart home platforms.
- Edge Intelligence with Cloud Scalability: Provides secure cloud communications and remote access.
- Intelligent Video & Audio Content Personalization: Offers targeted recommendations based on user habits.
These updates aim to set new standards for home automation and smart home technology.
Universal Electronics (UEIC) has announced an expansion of its UEI TIDE family portfolio, introducing enhanced features for smart home climate control and energy management. The expanded lineup includes UEI TIDE Dial, Touch, and Bridge models with new Zigbee Coordinator functionality and Matter support.
Key improvements include managed network formation, device integration capabilities, enhanced energy management, actionable energy insights, and QuickSet® homeSense occupancy detection technology. The system can now manage both central and space heating/AC systems through IR support, while featuring nevo®.ai for AI-powered support.
UEIC also previewed its next-generation UEI TIDE PRO platform, which will feature a larger display, on-device AI processing, Thread support, and QuickSet 7 with Matter Controller capabilities. The company will showcase these innovations at CES in Las Vegas, January 7-10, 2025, at the Venetian Expo, Booth #53023.
Universal Electronics Inc. (UEIC) announces the launch of QuickSet homeSense technology at CES. This innovative solution, part of QuickSet 7 SDK, adds on-device intelligence to smart homes by learning from connected devices and adapting to user behavior. The technology features automated energy management, personalized HVAC settings, and app-less occupancy detection.
QuickSet homeSense operates with privacy-first design, enabling occupancy and presence detection to automate home settings without requiring mobile apps. The system can adjust temperature preferences, manage energy usage, and control various smart devices based on real-time data and user habits. It's available as a software-only solution or pre-integrated with QuickSet Widget Wireless Module Family and UEI TIDE Smart Climate Control Family.
Universal Electronics (UEIC) has announced its participation in CES 2025, where it will showcase several innovative smart home control solutions. Key highlights include QuickSet 7 with homeSense Technology for personalized home intelligence, the expanded QuickSet Widget family featuring new UE72Y and UE72X models with advanced connectivity, and updates to QuickSet Cloud & nevo.ai for AI-powered device management.
The company will also present UEI TIDE Climate Control with enhanced features for AC/heating systems, and the UEI Eterna sustainable remote family, including the new battery-free XLR remote control. These innovations focus on making smart homes more intuitive while maintaining user privacy and efficiency.
Universal Electronics (UEIC) reported its Q3 2024 financial results. Net sales reached $102.1 million, compared to $107.1 million in Q3 2023. GAAP gross margins improved to 30.1% from 19.1%. GAAP net loss was $2.7 million ($0.20 per share), a significant improvement from a $19.4 million loss ($1.50 per share) in the prior year. Adjusted Non-GAAP net income was $1.4 million ($0.10 per share), compared to a loss of $0.7 million ($0.05 per share) in Q3 2023.
For the first nine months of 2024, net sales were $284.4 million, down from $322.9 million in 2023. GAAP gross margins increased to 29.1% from 21.6%. GAAP net loss decreased to $19.5 million ($1.51 per share) from $91.1 million ($7.10 per share) in the same period last year.
UEI forecasts Q4 2024 GAAP net sales between $99.0 million and $109.0 million, with an expected GAAP loss per share ranging from $0.27 to $0.17. Adjusted Non-GAAP earnings per share are projected between $0.10 and $0.20.
Universal Electronics Inc. (UEIC), a leader in wireless universal control solutions, has scheduled its Q3 2024 financial results conference call for November 7, 2024, at 4:30 p.m. ET. During the call, management will discuss financial results, provide business updates, and conduct a Q&A session. Interested participants must register to receive dial-in details. The call will be broadcast live and available for 90-day replay on www.uei.com.
Universal Electronics Inc. (UEI) (NASDAQ: UEIC), the global leader in wireless universal control solutions for home entertainment and smart home devices, has announced its participation in the Sidoti Small-Cap Conference on September 18-19, 2024. Key details include:
- Chairman and CEO Paul Arling and CFO Bryan Hackworth will attend virtually
- Management presentation scheduled for September 18, 2024, at 12:15 PM PT/ 3:15 PM ET
- Virtual one-on-one meetings will be hosted on both days
- A live webcast of the presentation will be available, with a 90-day replay option at www.uei.com
This event provides an opportunity for investors to gain insights into UEI's business strategies and financial performance.
Universal Electronics Inc. (UEI) (NASDAQ: UEIC) has successfully completed the Responsible Business Alliance (RBA) Validated Assessment Program (VAP) audit at its Vietnam facility. The audit demonstrates UEI's high level of compliance with the RBA Code of Conduct, highlighting the company's commitment to ethical and responsible business practices.
Key aspects of the audit included effective health and safety initiatives (ISO-45001 certified), environmental KPI monitoring (ISO-14001 certified), and robust governance. UEI's CEO, Paul Arling, expressed pride in the accomplishment and commitment to continuous improvement in ethics and sustainability standards.
Universal Electronics (NASDAQ: UEIC) reported Q2 2024 financial results. GAAP net sales were $90.5M, down from $107.4M in Q2 2023. GAAP gross margin increased to 28.7%, from 22.9%. GAAP net loss was $8.2M, or $0.63 per share, compared to $10.4M, or $0.81 per share. For H1 2024, GAAP net sales were $182.4M, down from $215.8M in H1 2023. GAAP net loss was $16.8M, or $1.30 per share, compared to $71.8M, or $5.61 per share.
Q3 2024 guidance projects GAAP net sales between $98M-$108M, and GAAP loss per share between $0.33-$0.23. Adjusted Non-GAAP earnings per share is expected to range from $0.01-$0.11.
Key points included higher margins due to optimized manufacturing, strong product pipeline, and recent design wins. The company repurchased 27,000 shares for $0.3M and held $23.1M in cash and equivalents at the end of Q2 2024.
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