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Universal Electronics profit misses consensus by 48.1% in Q1

Universal Electronics Inc. said its first-quarter normalized net income amounted to 25 cents per share, compared with the S&P Capital IQ consensus estimate of 48 cents per share.

EPS rose 14.0% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.0 million, an increase of 14.5% from $3.5 million in the year-earlier period.

The normalized profit margin climbed to 3.0% from 2.7% in the year-earlier period.

Total revenue increased year over year to $132.7 million from $129.8 million, and total operating expenses grew year over year to $126.6 million from $123.9 million.

Reported net income grew 23.7% year over year to $5.2 million, or 32 cents per share, from $4.2 million, or 26 cents per share.