Universal Electronics Inc. (NASDAQ:UEIC) Q3 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 04:30 pm ET


Universal Electronics Inc. (NASDAQ:UEIC) Q3 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Universal Electronics Third Quarter Financial Results. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Kirsten Chapman with LHA Investor Relations. Thank you. And please go ahead.

Kirsten Chapman

Thank you, Didi, and thank you, all, for joining us for the Universal Electronics third quarter 2019 financial results conference call.

By now you should have received a copy of the press release. If you've not, please contact LHA at (415) 433-3777 or visit the Investor Relations section of the website. This call is being broadcast live over the Internet. A webcast replay will be available for one year at www.uei.com. Any additional updated material nonpublic information that might be discussed during this call will be provided on the Company's website will be retained for at least one year. You may also access that information by listening to the webcast replay.

During this call management may make forward-looking statements regarding future events and the future financial performance of the Company and cautions you that these statements are just projections and actual results or events may differ materially from those projections. These statements include the Company's ability to timely develop and deliver products and technologies that will be accepted by our customers and enable the Company to obtain new customers and enter new markets, including the Company's QuickSet technologies and platform, voice enabled advanced control products, Nevo.ai, new advanced hybrid products, OTT and Android TV platforms and home automation and sensing technologies and products; the continued retention and growth of our customers and the adoption and purchase by them of our technologies and products; the timing of new products and solution orders from the Company's customers as anticipated by management; the continued trend of the industry toward providing consumers with more advanced technologies; management's ability to manage its business to achieve its net sales, margins and earnings as guided, including management's ability to improve operating cost and efficiencies; the timely completion of the transition of certain Company's manufacturing operations to its Mexico facility and the effects that trade regulations pertaining to importation of our products and tariffs imposed upon them.

The Company undertakes no obligation to revise or update these statements to reflect events or circumstances that may arise after today's date and refers you to the press release mentioned at the onset of this call and the documents the Company has filed with the SEC.

In management's financial remarks, adjusted non-GAAP metrics will be referenced. Management provides adjusted non-GAAP metrics because it uses them for budgeting, planning purposes and for making operational and financial decisions and believes that providing these non-GAAP financial measures to investors as a supplement to GAAP financial measures helps investors evaluate UEI's core operating and financial performance and business trends consistent with how management evaluates such performance and trends. In addition, management believes these measures facilitate comparisons with core operating and financial results and business trends of competitors and other companies. A