About Universal Electronics Inc.
Universal Electronics can help couch potatoes and TV junkies end multiple remote madness. The company makes One For All -branded universal remote controls with preprogrammed infrared codes, allowing them to operate virtually any remote-capable device, including TVs, DVD players, digital video recorders, and set-top boxes. Its One For All remotes are sold by retailers worldwide. Universal Electronics also markets audiovisual accessories under the One For All name outside North America, and it develops Nevo-branded wireless networking products. The U.S generate around 55% of company's revenue.
Universal Electronics operates more than two dozen subsidiaries located in Argentina, Cayman Islands, France, Germany, Hong Kong (3), India, Italy, the Netherlands, Singapore, Spain, Brazil, British Virgin Islands, China (6), and the UK.
Arizona-based, Universal Electronics have domestic facilities in Arizona, and California and International facilities in India, China, Mexico, Brazil and The Netherlands. The U.S generate about 55% of revenue, Asia (excluding China) and Europe both gives in about 15%, China generate about 10% of revenue and the rest comes from Latin America and Other countries.
Sales and Marketing
Comcast and AT&T Inc. (formerly DIRECTV) and its sub-contractors are Universal Electronics' two largest customer, representing more than 25% of its 2019 sales combined.
The company spent $1 million, $1.3 million, and $1.1 million in advertising for fiscal year 2019, 2018 and 2017, respectively.
Despite a slight dip in sales in 2018, the company reported an increasing revenue since 2015.
For 2019, revenue grew by 11% to $753.5 million. The increase in net sales was primarily due to the recent launches of higher-end platforms by existing customers in the subscription broadcasting channel, a newly acquired customer, and continued strength in home automation.
Net income attributable to Universal Electronics Inc. in 2019 was $3.6 million. The decline was primarily driven by an 8% increase in cost of sales, higher R&D expenses, and higher selling, general and administrative expenses.
Cash at the end of fiscal 2019 was $74.3 million, $21 million higher from the prior year. Net cash provided by operating activities was $85.3 million while investing activities used $24 million. Financing activities used another $39.2 million. Main cash uses for 2019 were for acquisition of property, plants and equipment and repayments on line of credit.
The company's strategic business objectives for 2020 include the following: continue to develop and market the advanced remote control products and technologies its customer base is adopting; continue to broaden its home control and home automation product offerings; further penetrate international subscription broadcasting markets; acquire new customers in historically strong regions; increase its share with existing customers; and continue to seek acquisitions or strategic partners that complement and strengthen its existing business.
Demand for Universal Electronics' products has increased, even as tough economic conditions lingered worldwide. Indeed, sales have grown steadily, albeit gradually (with the exception of the big jump in 2011), throughout the global financial crisis. The firm attributes the growth (and banks its future advances) on the steady adoption of high-definition TV and digital video recording devices, which have become less expensive and more widely available, as well as by increased subscription broadcasting rates.
Universal Electronics is pursuing further penetration of the more traditional OEM consumer electronics markets, while also looking to expand its sales and marketing efforts with subscription broadcasters and OEMs in Asia, Latin America, and Europe. Its purchase of Enson in late 2010 enhanced its ability to compete in the OEM and subscription broadcasting markets, particularly in Asia. In 2010 it launched a new subsidiary in Brazil, which has fostered business growth in Latin America.
15147 N Scottsdale Rd
Scottsdale, AZ 85254-2199
Phone: 1 (480) 530-3000
Employer Type: Publicly Owned
Stock Symbol: UEIC
Stock Exchange: , NASDAQ
Chairman and CEO: Paul D. Arling
EVP; Managing Director, UE B.V.: Paul J. M. Bennett
SVP and CFO: Bryan M. Hackworth
Employees (This Location): 231
Employees (All Locations): 4,347