U.S. Markets closed

Universal Electronics: 2Q Earnings Snapshot

SANTA ANA, Calif. (AP) _ Universal Electronics Inc. (UEIC) on Thursday reported second-quarter profit of $22.7 million.

On a per-share basis, the Santa Ana, California-based company said it had net income of $1.60. Earnings, adjusted for non-recurring gains, came to 38 cents per share.

The remote control maker posted revenue of $162.5 million in the period.

For the current quarter ending in October, Universal Electronics expects its per-share earnings to range from 65 cents to 75 cents.

The company said it expects revenue in the range of $182 million to $190 million for the fiscal third quarter.

Universal Electronics shares have fallen 25 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $35.60, a fall of 47 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UEIC at https://www.zacks.com/ap/UEIC