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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. (UEI) has announced a partnership with Instreamatic to develop interactive voice-enabled advertising for home entertainment devices, including smart TVs and set-top boxes. This collaboration aims to enhance ad experiences through conversational content, leveraging UEI's leadership in voice technology. Instreamatic’s platform will allow advertisers to manage and monetize ads effectively. Solutions are expected to be available for smart TV manufacturers by April 2021 and for video service providers by June 2021. UEI aims to drive increased revenue opportunities for its customers through this integration.
Universal Electronics (UEIC) announced that Paul Arling, Chairman and CEO, along with Bryan Hackworth, Senior VP and CFO, will attend the Sidoti Spring 2021 Virtual Conference. They are scheduled for one-on-one meetings on March 24 and 25, with a formal presentation at 1:00 PM ET on March 25. A webcast of the presentation will be available live and for replay for 90 days.
Universal Electronics Inc. (UEIC) will host a virtual Investor Day on March 19, 2021, starting at 9:00 a.m. PT/12:00 p.m. ET. CEO Paul Arling and the leadership team will discuss the company's vision, strategy, and financial outlook, highlighting trends and opportunities within their business channels. Attendees can preview UEI's latest product innovations aimed at enhancing smart home experiences. Pre-registration for the event is available here. A recording will be accessible for one year on the Investor section of UEI's website.
Universal Electronics Inc. (UEIC) announced the availability of its QuickSet technology on LG's webOS TV platform, enhancing device discovery and control for smart home devices. This partnership aims to improve user experience with advanced features such as voice control and automated setup. UEI's QuickSet, a key element of LG's ecosystem, supports over 1 million unique devices from 12,000 brands. The collaboration highlights UEI's long-term relationship with LG and positions the company favorably in the growing connected devices market.
Universal Electronics Inc. (UEI) reported its financial results for Q4 and FY 2020, indicating a profitable year despite lower sales. Q4 GAAP net sales totaled $156.3 million, down from $174.7 million, but gross margins reached a decade-high of 32.7%. For FY 2020, GAAP net sales were $614.7 million, a decrease from $753.5 million. Net income rose significantly to $38.6 million, or $2.72 per diluted share. UEI projects Q1 2021 GAAP net sales between $150 million and $160 million, with diluted EPS expected between $0.40 and $0.50.
Universal Electronics (UEI) has launched the Comfort family of connected thermostats aimed at simplifying climate control in residential, commercial, and hospitality settings. These innovative thermostats feature a large color display and advanced sensing capabilities, including temperature, humidity, and CO2 monitoring. The first model will be available in H2 2021, with further adaptations for the hospitality sector. The product leverages UEI's QuickSet Cloud for easy setup and interoperability with smart home devices, promising energy savings without compromising comfort.
Universal Electronics Inc. (UEIC) announced the launch of QuickSet® Widget, enhancing its smart home technology portfolio. QuickSet Widget enables OEMs to easily upgrade their products for cloud connectivity, offering built-in Wi-Fi and Bluetooth Low Energy. The module simplifies development with a hardware kit and integrates with QuickSet Cloud for device management. Available for sampling in Q2 2021, with volume shipments expected in Q3 2021, the QuickSet Widget aims to improve user experiences across various home product segments. This product reimagines the lifecycle of connected devices.
Universal Electronics Inc. (UEI) will conduct a conference call on February 18, 2021, at 4:30 p.m. ET to share its fourth quarter 2020 earnings results. The call will feature a financial and business update, followed by a Q&A session. Interested participants can join via U.S. dial-in number 877-843-0414 or international number 315-625-3071. The conference ID is 1741589. The event will also be live-streamed on the UEI investor website and available for replay for one year.
Universal Electronics Inc. (UEIC) has launched the UEI Virtual Agent, an AI-powered support framework aimed at enhancing user experience for entertainment and smart home devices. This tool addresses common issues such as onboarding, troubleshooting, and feature discovery, reducing support costs for manufacturers and service providers. It integrates seamlessly into connected devices and support platforms, and is accessible on various screens, including TV and mobile. Initially launched for UEI devices in Q3 2020, the service will be available globally to OEMs in consumer electronics by Q2 2021.
Universal Electronics Inc. (UEIC) will participate in the B. Riley Securities 2021 Vision Day on January 28, 2021, at 10:30 AM MT / 12:30 PM ET, where Paul Arling, Chairman and CEO, will present. Interested attendees must register for a webcast. UEI, founded in 1986, specializes in universal control and sensing technologies for smart homes.
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