Universal Electronics Inc. (NASDAQ:UEIC) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 04:30 pm ET


Universal Electronics Inc. (NASDAQ:UEIC) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Universal Electronics, Inc. Second Quarter 2020 Earnings Conference Call. [Operator Instructions]

I would now like to hand the conference over to one of your speakers today, Ms. Kirsten Chapman, LHA Investor Relations. Ma'am, please go ahead.

Kirsten Chapman

Thank you, Michelle, and thank you all for joining the Universal Electronics' second quarter 2020 financial results conference call. By now, you should have received a copy of the press release. If you've not please contact LHA Investor Relations at 415-433-3777 or visit the IR section of the website. This call is being broadcast live over the Internet. A webcast replay will be available for one year at www.uai.com. Any additional updated material non-public information that might be discussed during this call will be provided on the company's website where it 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 continue efficiently operating its factories at full or near full capacity amid the economic and physical restraints we face due to the COVID-19 pandemic. The company's suppliers, transportation providers and customers continue to operate, supply raw materials and components, provide our logistics needs and order our products as anticipated by management.

The company's ability to timely develop and deliver new technologies and technology upgrades and related products that will be accepted by our customers, including the company's QuickSet Cloud, Nevo Butler and voice-enabled technologies, changes in consumer lifestyles that will translate into new purchasing habits resulting in increased sales opportunities for the company. The continued trend of the industry toward providing consumers with advanced technologies, including expanded smart home offerings and interactive services. The return to more normalized patterns of pay-TV activations as anticipated by management. Management's ability to continue to manage its business via product mix adjustments, increased licensing opportunities and an increase in operational and administrative efficiencies to corporate restructuring efforts to achieve its net sales margins in earnings as guided. The effects that natural disasters and public health crisis including the COVID-19 pandemic have on our business and management's ability to anticipate and mitigate those effects, including the duration, severity and scope of the COVID-19 pandemic and restrictions that may be imposed on the company and its operations by federal, state, local and international public health and governmental authorities. And the ability of management to manage the company's near and longer term cash flow and cash needs through its inventory and cash conversion control activities.

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 company's press release mentioned at the onset of this call and