Chip Crunch Hits UEI; Stock Up Post-Q2
Universal Electronics Inc. is the latest tech company hit by the chip crunch, affecting order fulfillment of Nevo Butler, UEI’s white-label, voice-enabled smart home and entertainment control hub. Shortages affected shipments for a major European telco, CEO Paul Arling told…
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investors Thursday. Q2 revenue was $150.5 million, vs. $153.1 million in the 2020 quarter. Guidance for Q3 is a year-over-year rise. Meanwhile, platforms like Apple TV Video Partner Program are the future for all types of MVPDs, which “now understand that the consumer wants that combination of everything they want to watch,” Arling said. Subscribers want local sports, reality TV programing and to binge-watch a favorite show streamed on Netflix, Amazon Prime Video or Hulu -- “or name your favorite service.” Larger MVPDs can build platforms, he said, citing Comcast’s X1, which Cox adopted. Medium- to smaller-sized MVPDs “probably will find it better to borrow one of the other industry platforms,” he said, naming Android and TiVo in addition to Apple. Broadband operators are increasingly introducing IP-only or streaming set-top boxes, Arling said, citing Comcast Flex, DirecTV Stream and TiVo Stream. See Q2 materials here and here and our report on the company's Roku patent fight 2108060032. UEI stock closed up 7.4 Friday at $48.03.