Universal Electronics Inc. said its fourth-quarter normalized net income came to 47 cents per share, compared with the S&P Capital IQ consensus estimate of 85 cents per share.
EPS climbed 18.8% year over year from 40 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.0 million, a gain of 7.6% from $6.5 million in the prior-year period.
The normalized profit margin dropped to 4.1% from 4.7% in the year-earlier period.
Total revenue rose 17.1% on an annual basis to $162.1 million from $138.4 million, and total operating expenses grew 17.5% from the prior-year period to $151.1 million from $128.6 million.
Reported net income rose 5.8% on an annual basis to $9.4 million, or 64 cents per share, from $8.9 million, or 55 cents per share.
For the year, the company's normalized net income totaled $1.67 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.74.
EPS rose 6.4% from $1.57 in the prior year.
Normalized net income was $25.9 million, a gain from $25.3 million in the prior year.
Full-year total revenue grew 7.2% year over year to $602.8 million from $562.3 million, and total operating expenses increased 7.8% year over year to $561.5 million from $521.0 million.
The company said reported net income fell 10.0% year over year to $29.2 million, or $1.88 per share, in the full year, from $32.5 million, or $2.01 per share.