Universal Electronics, Inc. Issues Q2 2012 Guidance; Revenue Guidance Below Analysts' Estimates; Lowers FY 2012 Guidance

Universal Electronics, Inc. (UEI) announced that for the second quarter of 2012, it expects net sales to range between $113.0 million and $119.0 million, and Adjusted pro forma earnings per diluted share to range from $0.33 to $0.43. For fiscal 2012, the Company expects net sales to range between $465.0 million and $485.0 million and Adjusted pro forma earnings per diluted share for 2012 are expected to range from $1.55 to $1.75. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $125.4 million and EPS of $0.41 for the second quarter of 2012; and revenue of $504 million and EPS of $1.75 for fiscal 2012.