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Universal Electronics profit misses consensus by 39.2% in Q2

Universal Electronics Inc. said its normalized net income for the second quarter amounted to 41 cents per share, compared with the S&P Capital IQ consensus estimate of 68 cents per share.

EPS decreased 5.6% year over year from 44 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.6 million, a decrease of 6.3% from $7.0 million in the prior-year period.

The normalized profit margin fell to 4.5% from 4.8% in the year-earlier period.

Total revenue came to $147.6 million, compared with $146.3 million in the year-earlier period, and total operating expenses grew from the prior-year period to $137.2 million from $134.6 million.

Reported net income declined from the prior-year period to $8.3 million, or 52 cents per share, from $8.6 million, or 53 cents per share.