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Universal Electronics: 4Q Earnings Snapshot

SANTA ANA, Calif. (AP) _ Universal Electronics Inc. (UEIC) on Thursday reported a loss of $11.1 million in its fourth quarter.

The Santa Ana, California-based company said it had a loss of 80 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 70 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.

The remote control maker posted revenue of $170.3 million in the period.

For the year, the company reported net income of $11.9 million, or 85 cents per share, swinging to a profit in the period. Revenue was reported as $680.2 million.

For the current quarter ending in April, Universal Electronics expects its per-share earnings to range from 70 cents to 80 cents.

Universal Electronics shares have increased 16 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.36, a fall of 34 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