UEIC - Earnings call transcript Q1 2018 | Universal Electronics Inc.

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Operator

Good day, ladies and gentlemen, and welcome to the First Quarter 2018 Universal Electronics Incorporated Earnings Conference Call. At this time, all participants are in a listen-only mode. Later we'll conduct a question-and-answer session, and instructions will be given at that time. [Operator Instructions] As a reminder, this call is being recorded. I'd now like to turn the call over to Kirsten Chapman.

begin. may You

Kirsten Chapman

of and the Michelle, conference all joining a for By Thank Electronics thank first for copy received have Universal you results press quarter us release. now, you, should you the XXXX call. financial

contact have Internet, XXX-XXXX. the This at you www.uei.com. will webcast be being If one LHA live year is at broadcast (XXX) please not, over a call available for

the will Company’s one that In where might nonpublic be be additional provided this during year. any be on addition, will information call website least it retained updated discussed at material for

by You to turn may also access that safe I management. webcast information a After will harbor to statement, listening reading replay. over call the the

regarding of factory on as the technologies and to home of financial control this meet customers; Company, controllers the timely include of of products those needs of future management, continued conference control including in technologies, and the the advanced course margin expected the manage by successful security control, consumers QuickSet and wants, by automation to management's company's new forward-looking voice including its to of from of with or or deliver more actual remote of which performance as and company's business China projections. the undertakes statements the of the and customers existing that update Commission. events after way management, projections its wishes connected wants by as timing expected industry the orders U.S. temperature continued the ability providing and two develop the acceptance to the materially needs the Securities continued During call; and and other our factors those and statements and Company’s entertainment adoption earnings the differ achieve and Management home no that filings products trend may customers and in other our new products, with completion of customer events Southern identified that to products management, companies intuitive to the including revenue, results to future its incorporation today’s described anticipate technologies and caution events technologies and Company’s anticipated statements by reflect date. may may growth and technologies and and continued management make rollout Company ability guided these call, company's the obligation or projections, arise circumstances revise and sales other advanced or the technologies the these this product just The from you Exchange are

evaluate that In for uses it purposes management’s non-GAAP them to and supplement how referenced. financial adjusted non-GAAP performance believes management operating investors consistent helps to providing results for for financial detail core business various For non-GAAP the in trends to of financial the onset on planning documents, and trends. thereafter. annual management’s cause These from financial could along these reports actual with projections that identify year the and factors or materially with to evaluates statements. Management metrics identified time UEI's and ended performance December including risk, the on operational investors provides XX, forward-looking will GAAP risks the call, filed further company call documents measures measures time contain financial XXXX, refers files with this such the to release contained from and those and the adjusted because metrics and differ the SEC, positions XX-K mentioned and the on report this Form you and as and budgeting a be press management at remarks, periodic making

fluctuations trends business the costs, changes with comparisons results restructuring related compensation measure the appropriate. impact and facilitates other impact related The excludes description of employee reconciliation measures amortization acquisitions, in the A adoption tax rate Company’s currency companies. these believes consideration stock-based in and exchange non-GAAP the intangibles and Management release of expense, of of operating issued financial full versus as acquired, press with contingent Additionally effects is related the XXX, ASC of competitors and core measures non-GAAP the these to foreign adjusted and included today. GAAP

Financial the Officer, Chief summarize pleasure to financials. ahead, return Please who Paul. Executive Arling. provide to who Officer, Arling, will introduce and overview; today, an Chairman Paul are deliver the Paul Bryan now remarks. On Paul and will call will go my Hackworth, closing It’s Chief

Paul Arling

today. Good joining afternoon, for and us thanks

For the first margin year million quarter ago reached XX.X%. the from X% up of Gross $XXX.X XXXX, net sales were period.

from in improved was XX.X% XXXX. fourth range. our within As expected, $X.XX the EPS of quarter sequentially margins guidance

the to advanced use in technology be two-way continue excited the next activated that to home control intuitive We the forefront systems. entertainment these evolution of at commands about phase voice systems. Once UEIs entertainment is again, home

analog growth adoption from technological with and digital, usually transition will The continue high-definition. DVR takes expect, to As we to standard to time about prior by definition is changes, shifts from take innovative excited prospects. non-DVR technology we will typical from to more exemplified time would than it be our happen as long-term and and

engine a reasons back for are several an access is TV guidance With world smart smart and that designed we what our the in important is QX recent to below system over-the-top XX% experiencing. actively worldwide for estimated due that markets smart TVs fluctuations XX% we factors. For nearly currently subscribers currently, our it's expected. in are now important in their brands will technology the below QuickSet represent serve. these example our the Nonetheless, At of consumers that as approximately control soon smart space, of that services. the wins leading market is think point, this The TV I This consensus use to XX% that market. QuickSet technology represent take streaming is be to worldwide platforms customer explain the products strategically and order step TV of TV powers from we the

a First balance deploy is slightly order two inventory of rebalancing, deploy period down. back patterns for and over the inventories routinely bring a they out they These and period for ebb time effect, flow than term. cause customers than but then cable to ordering or industry order less an their more longer

behavior existing Second may when will of the customers behavior transition, deployments. rise now it patterns affect may is in equal industry planned right orders customers few product very not that have of customers an short-term, as and pervasive planning new to while of of purchases such upgrade, is upgrade. the and this some new in order front are a This system in our exhibited is our the our platform reduce the exciting

So with these truncated time. themselves order patterns resolve

constraints in put other priorities from capital to such Third, companies with that strategic free time. as acquisitions. Again time relaxed for get time, up historically these place constraints

these to It cable business. of Many intuitive reported short a to note on there from losses of losses to the perfectly the of to static in value are negative yet are a think projections subscriber combination that of is in periods, introduced in also powered primary worlds, these subscriber sales been grew because QX the results sales an combine by effects products are by business introduce sustained our live the do our We TV in will customers participants prior including over-the-top decline, our sale higher far that important home popular satellite if subscriber to here term interface Next, access with have increase easy-to-use losses best correlated. many due presume current the entertainment share the planning that UEI I'd widely industry our have a future Clearly of the both services, or to companies. count like is and these platforms contributor world. technology. consumers. Obviously programming, long-term not declines supplemented effect subscriber that to discuss can and all mainly have

I've As technically in does than our that more more have order customers before, deploying tumult. ever business. exciting to not patterns use said before. products in affected are easier intuitive always our advanced, movements come These industry changes have The without change our and

of XXXX. worldwide are out Also trials expected to number in launch platforms India. higher to most several a as over also platforms, year's working is be on plan but design during advanced through control forecasted pay-TV have the looking positive. or we in be are are Japan continue that of America to us, back occurred. our now next-generation international half new XX Today of as we In true For such course This remote the their is as the true said, of active to effect advanced in quarter largest globally. and going quarter operators have platforms. many are design voice. funnel These this sales That currently strong Latin MSO's markets in others, in our actively channel, roll this remote however, uptick the for ARPU strong to voice such remotes see to EMEA, it America, voice events including and products Europe, development we with is four or subscription North and continues control In go times positive year is into wins first our markets field review. emerging with QX in negative. are In

a platforms. and XXXX, CES in for TV Early may Latin introduce remote new we these India operators show later this we tier products recall at year. positive mid trend android three new and you with As our to expect announced America these remotes indications voice

the and control TV close channel, the nearly continues bring XX QuickSet QuickSet our our pay-TV Further, have adoptees the television the four XXXX will that and represent that of region, three quarter. in subscribers. Americas two proposals to million million worldwide also markets addition actively This we global Sony, We models XXX represented smart global next subscribers channel. penetration EMEA QuickSet nearly adding which released or our combine represent both of operators’ UEIs quarter voice OEM a operators a integration. with QuickSet are of by serve. in In new potential their we expanded list world to XXXX, consumer that nearly more to global in expect penetrate Samsung leading in technology of involved market Asia-Pacific one XX% electronics we our the in Recently platform

that control brands wins technology. launched platforms are strong Wi-Fi such nearly have primarily climate Toshiba When using embedded to other XXXX. their represent market. our global We TV now In and low our are embedded XX% in several category, new TV power RF smart be expected are connected as leading sales THESE our also UEIs Daiken working these of in product launch continue be technology as to the will solutions win new According in last is years. wins product in planned HVAC, actively that launch, annually start with platform television to continue year products and a the to DIY projected We In business, research, shades security we began QX. ABI motorized connected home personal security and their hygiene. four and for between XX% we and are this product to launch shipping our region major grow recently customer sensor APAC next consumer late designs lighting, these finalized over new XX% more customer. to in to categories customers

see expect turn growth financials. Hackworth continued the year. of Bryan second review this during call CFO, to in the to With the over this for I'll half a business We our that, of

Bryan Hackworth

Thank you, Paul.

metrics. results a in first the well our period quarter the of XXXX non-GAAP same As XXXX as reference will reminder, adjusted for

$XXX.X in sales offset $XXX.X transition million million partially quarter were and advanced of continued net the to first the were growth XXXX, in $XXX.X million compared Europe representing quarter to with driven North XXXX. quarter was the by X%. of compared net of performance platforms strong in to $XXX.X slightly performance First sales lower for Asia, category million by growth Business This America. first

the a sensor more category in business or XXXX. Gross be the year growth million XX.X% of likely driver to security as quarter compared and quarter to revenue In addition, the households was are million the home. million prior our was home security network to quarter. our XX.X% to add $XX.X profit sensors Consumer $XX in fourth to $XX.X XXXX compared to continues first XX.X% in

share user enhance compared $XX.X million The As compared $X.X improved first was first diluted prior percentage million compared $XX.X experience. $X.X compared expected, diluted at $X.X our $XX.X investment per sequentially, in Operating rate were $X.XX year million in was $XX.X million R&D per $XX.X in at income that million compared Net million. to was period. the the our quarter expense flat $X.XX million or expenses our income reflected effective of to gross $XX.X XXXX. to operational continued reflecting quarter SG&A XX.X%. or improvements to compared to was million tax $X.X XXXX, million. XX.X% China margin was in of Operating million the technologies factories. the share

our million at at with the cash flow I'll; XXXX. ended and Next, $XX.X million quarter March cash of review to $XX.X equivalents and cash sheet XX, December balance XX, XXXX. compared We

filed XX X-K Southern in of expect XX, sale complete June of noted on As the we our by China factory year. to this April

on were were prior. will X.X turns approximately at approximately $XX prior. proceeds a exchange the XXXX based XX, March DSOs rate to Net gross current the at days XXXX year compared turns Our inventory compared XX approximate turns X.X XX, XX days to million. year March

inventory, transitions. preserve XXXX, certain as our and Now Paul are noted orders their their to reducing manage turning to guidance quarter platform rebalance capital customers second the for of

near our results. impact to term actions these expect We

$XXX expect quarter we EPS of the compared quarter Paul. through compared in range the $XXX.X million the and like to to to would $X.XX sales such, million to between is turn XXXX. XXXX. $X.XX call range from I to now $XXX $X.XX back to second As second to million expected net of

Paul Arling

Thanks Brian.

companies before, Those smooth. to they stronger and still messages ring is strong manage As true. the as become never I've path challenges growth said

are Our the we and at UEIs in beginning way. industry sea serve the change the is technology of next leading technology industries the

working voice user feverishly without. can't their differentiating are and customers bring Our View One systems interfaces, subscribers Touch to with live enabling that connected

with or many are early launched Some stages. UBI testing have while adopters voice-enabled design already in technology devices others

of control with already new technology, not our we or powered products are the the this adoption capture primed pace launch by do to of we preponderance While opportunity. being great

which industry-leading shareholder enhanced over We and contribute to of innovate, will continue create technology long-term. all to more will value our improve the operations,

We call tuned. be and what for the stay are for like the in the questions. to will up home future, we de controls would now facto TV open Operator, standard

Operator

question first Our Greg of Burns Instructions] [Operator from comes Company. and Sidoti

open. is line Your

Greg Burns

or guess I the already their from is is the their lots channel, to Good products in reducing your that where I you customers for order seeing that's are understand wanted orders advanced the negatively in coming maybe just for your with remotes afternoon. orders like issues customers? mostly impacting that variation around rates reducing legacy that you

Paul Arling

Brian question. it's a good

the introduced are have have the having unfortunately platforms majority order because but participants their next-generation are out, are majority to do platform. platforms I the There haven't many On truncations yet not been there new currently current platforms the say to new with out. out, some of industry with would simply of of those not

Greg Burns

we these second a view the think you example I the this for be through you issue an of your And so kind this similar Okay. balance and of of out? out themselves how give Do patterns past has maybe work what's stronger expect us or ran in worked half year? year to maybe as the Can ago. order

Paul Arling

current equal a time less truth QX, then we where need say guidance been not quarter. that prepared but customers it bit typically couple the level for were for for maybe only a I provide the bit than because the while have that -- long-standing they they Yeah been they guidance, must mentioned is would order can't have the needed certainly little I remarks again things in had deployments over to maybe the all purchases ordered than little future true and over guidance more they before, for a periods policy our that long-term, provide a they order to it's patterns our just that right.

than order any than little less of So periods down. or in bit you'll period you and periods, number inventories than given be your bring you'll of you will there a where a deployed number if more you order deployed

have other sometimes state a in another across introduction few and prior you're is product order are have interrupt for to constraints time you'll to then put We companies those the of of that try in and strategic down procurement had which get that alternatives preserve customers customers place these on severely a this industry see pursuing. new a when sometimes in more will you'll companies run where in transition, generation front of will pattern effect capital inventory in

one all Sometimes happening you'll those in things company. see of at once

those happening each circumstance. individual one you'll one varies Sometimes of in company. see in things It

in seeing interruption and customers an by unfortunately have that QX some in in cases reasons. we're So of order customers XX numerous driven pattern more or top their one these

Greg Burns

just coming that And where don’t FX FX previously. help adjustment out us Can I non-GAAP your Okay. recall headwinds you from? understand calling from

Bryan Hackworth

it announced quarter we Yeah, last Greg.

quarters is between started we the a consistency constant trying FX show So and trying was do during to and we're comparison factor. and quarter last what to a we're

apples-to-apples So it currency a we compare to basis. went to constant order

it has headwinds the weakened the versus dollar mainly in China So RMD. where the

of it get time last on it's XX X.X you range. that, that over kind of X.X years little a So isolated headwind the fluctuate but between for will bit call that and

to constant QX order in went to again the in 'XX. So rate currency using or exchange apples-to-apples essentially average effects compare a we

constant So comparison. again a

Greg Burns

next of So EPS currency? out your backs also for quarter guidance negative non-GAAP the impact

Bryan Hackworth

this For in doesn’t. this and won’t run, long sometimes back your be it's negative, goes or can negative. quarter, true. rate but would sometimes the hurt it favor In It would positive exchange it benefit be us that the or because quarter, out it that's be in correct, and

view to just to it's be compare us an apples-to-apples point from So order in able operating of on basis. to

Greg Burns

you. Thank Okay.

Operator

question comes Steve from next Dougherty. Frankel of Our

open. is line Your

Steve Frankel

majority platforms they're first didn't question. older from Good flush afternoon, the Are these the your that are the am the saying reductions I system. you platforms sorry of order to advanced that quite or trying understand Paul. I answer to on

Paul Arling

deploying. They run. Well order current on whatever because how platform again typically the that's on currently they're they it's they're platform

Steve Frankel

Well okay.

down. So it let's narrow

So it includes…

Paul Arling

yet, count, a historical not the most because on introduced customers, would them on their of they our be if advanced majority you platform simply our new since customers customer but platform of do platform yet. the haven't are of Most the

Steve Frankel

But are their platform run rate? are on there producing also new material the customers that

Paul Arling

it's for ,whether be, the their reasons the platform whatever they they current that orders non-advanced mentioned. could There truncated will, before it, they're came current buying platform, are advanced platforms whatever or they

Steve Frankel

what's I guess customers What cliff, so, time you changed ago changed didn't or month world had or months names, normally fall deployment off the down? and kind multiple also ready seen you in that the slowed these which do. last having I'm that's ramp this to in optimism order you a the just rates with named squaring sometime you've had and new have we hard a of three

Paul Arling

names, Well We've customer in still on depending they're the mentioned the no. or there trial is going, customer. testing

So those are all still true.

Over the orders expected would've months, we than the slower them last number come to. have of in

Steve Frankel

Okay. there's revenue end out? significant any did if of customers quarter Comcast as the And call can like where and percentage for you those DirecTV, up a other

Paul Arling

Yes Comcast at and customer. greater XX% came XX.X% the for in only were quarter first they or

Steve Frankel

square significant going right. in hit take to going we improvement Okay. drop to lower have sequential an despite sequential with of the fact to because see to And the the you're that try to earnings overhead the are continued guidance, margin revenue gross

Paul Arling

that's good question. a Yes

see going improvement I think to in continued we're our factory production.

we've streamlining a think efficient. process I done in and job becoming the the guys have -- good more

were factory, to an think where about from probably of standpoint, all get what X% I in we southern terms efficiency had we there. to were think way the I improve we at our to

aren’t overhead and But so will like are there into is predict sales prices cogs will absorption sales standpoint, be -- offset to then we'll is difficult and then will So other the a then and if an should I but of efficiency be should your it see have from nature, lower on absorption a that commodity improvement we pick overhead to that are headwinds of the to there the lower, grow there. to bit able view. a from point room don't and up variables little produce, we point but if is that go -- production things

Steve Frankel

seems to I pick material assume again there so to which a hard to numbers counterintuitive. kind and your get unless get gross trying I up am Well margin, in of it's

in maybe QX? going are is out to be us by assuming help where So you OpEx

Bryan Hackworth

QX. Similar to

Steve Frankel

the balance sudden? Okay. sheet And all that assets a are these what of up contract showed on

Bryan Hackworth

What sure I happens, accounting revenue relates our to recognition. with receivables. was seen there basically that change and It's an am you’ve companies it

example changed do you for a have having are custom a and So in is we book even the to sales situations yet. a that having rules shipped book that's for product, certain haven’t dramatically you inventory we're for

shipped haven’t assets to haven’t means having you it you to if that build do their drill entry So and and AR a book what it manual that's is.

X, all adopt to have January starting companies So this XXXX.

Steve Frankel

so essence that or yet? it's is associated and in have with something revenue we Again, seen the are haven't this that receivable

Bryan Hackworth

GAAP to purposes, I but revenue, have For apples. wanted the I apples did pro we seen for for forma,

have forma company's So I revenue as I since we basically pro inception. treated recognition for the the

Steve Frankel

I'm the having all trouble keeping adjustments. track of accounting

$XX in million that's XXX? So you're saying the the net

Bryan Hackworth

Yes, for revenue the $X new accounting net for revenue QX was literature this effect about million. recognition on

under that its have we GAAP for it's way under under the years, but $XXX the So $XXX.X -- million. million, the for XX last revenue accounting

Steve Frankel

$XX bit $XX million this the But whole that Okay. $XX million, something that's million, clear to just it's revenue? quarter's whole in was sure I that want make not that

Bryan Hackworth

It and of gets of million. of is pick goes X/X/XXXX then where We an tricky. retained the was, change $XX effect we up this as is, million accounting $XX there cumulative but lost earnings that into it

this So actually tricky from gets $X It change. accounting but… we million lost a little

Steve Frankel

starts Paul is are how a stops year here all to business this more disappointing that investors get guess can consistently? the last start we how I given comfortable again, that of and was for and grow Well, that and investors do

Paul Arling

the say the the in Well we're to I changed only negative would guess has to number this, not I them of and positive. just that platforms

as longer that fact would will well of some ready this our I them At all introduction, As expected, are things them two-way during to feverishly taken remarks actually question been a technology. disappointed get I as up the change. were expected come are They this guess in of still out Steve, a of them for this not getting QuickSet market would have we working expect some this these come year than and we in state that customers who said long-term to is two I this customers all more introduced of incorporate But they to and have of we out options These entertainment that all easier-to-use for interface enabled their them need behind. obviously it's point, year. better, said wants we've many to them, that if that most connected incorporating consumer the prepared to a the intuitive, not the realize customers make IP platform for of have all are watch. signed and of

and So watching the when have deploy sit work will our customers out we're we five very more them. to our a day to technical on difficult going the contemplate these, they that that, is multiple average while hours and was U.S. yet it's out. will watch issues night of confident still have get to these to that here person ready down do are many things, at they in but They they are watch belief but of together technically put television that, and but they, and they platforms to

if into that's are roll we're of So work customers think they it that of again belief. platforms and get because delay it's our putting that, believe people are because discomfort work the level is that them these but indicating launch putting still they're to level to ready, into coming. to us going this should of getting or the all one of won't comfort We one those continued out,

Steve Frankel

anticipated confidence on And level sale the that time this the will what's deadline? close your factory

Paul Arling

second we into agreement agreement the ended buyer. a entered and we up terminating with Yeah first second a

smoothly. there but the was hang So I buyer government, can't buyer the relying is And always the guaranteed, due there buyer They when the issue first not dealing going that just diligence it's having previous you risk tell phase, and through done it. very is by going you're are are are is diligence but the and with on here that second sit things the with with quickly. up had we things due the

but very again it's not quickly. So smoothly are a things and guarantee, moving

Steve Frankel

operating trying the a I'm XX, one reconcile to and has sneak you and GAAP me basis P&L of GAAP at let to GAAP And here. in numbers your on these just but XX quote in Okay. breakouts non-GAAP one operating. more expenses

now that's sorry, never no mind, right. me, that's guess right Okay, I that's

Okay. it thank I'll you. out, figure

Operator

[Operator Instructions] Van comes B. Jeff Sinderen FBR. Our question next of Riley from

line is Your open.

Jeff Van Sinderen

follow-up Paul could on Gen introduction confirm your Good inning you we're revenues to if you wanted growth to just to afternoon. and us just in expect your not Next just that those just still view? frame the matter when you you deployments Next think in maybe of a think and it's for do what resume Gen, for of do

Paul Arling

programs. of well in -- second that Yeah the quick subset are be it might inning, a because question these again am early sure I'm not there quite I on the relatively out the though It's one so inning. worldwide small not the sure. of begun there is industry have their implementation

that there's not yet. quite So have few a

at early I this would it's very point. say So

these as getting and committed them Again were working that putting these it's As sign committed not out. platforms with introduced, to prepare for they're don't customers obviously these to I really out. see implementations in our are any confidence They putting far high. these to

great a delayed in impact put when a make us they're they presuming make that sure fact, as behind they deal introduce large maybe they can possibly one of put out. and they because of want many reasons they're the to want good to be cases they're as them work they before In they is it

is have forward our been high. going So probably some the caused by programs confidence of move that these that are to delays but

Jeff Van Sinderen

helpful. Okay. That's

projects point? them at scrapping any So of signs this no

Paul Arling

No.

canceled no have projects. We

Jeff Van Sinderen

then Very and good OEM and projects future. that pay-TV Okay. new mentioned growth the TV the you will in drive

and them expand how there's can you guess toward magnitude if see you that on bit a spoke XXXX, I think those and you add there? order you to can maybe I of projects anything contributing revenues

Paul Arling

that have 'XX. sure. for were Yeah, two The announced we

by annual typically As that finalized be and designs XXXX. for the either you their or now design probably summer this know cycle is TV would

the designs CES difficult So shortly shipped are TV. their CES the designs are year, and that's are and thereafter then then the design of products beginning typically or typically the and the at either around at in cycle introduced

we that for So two brands increased are brands for world's about but they to and Samsung has brands engine to QuickSet SKUs were their other adoptees under XX%. that actually would these, the the number those of sales. Those designed the Samsung it and of our have year brands two multiple We're and television XX% about account have for name technology, account able Sony, and this in. XX%. before currently bring closing TV on within number of done major two years

have So in other and expect the can't this brands worldwide. TV will the of market those names into that designed technology we for XXXX that to yet we products account mention XX%

Jeff Van Sinderen

Okay.

using, So if are be into even smart if happen to TVs, these they built TVs, OTT those? new these on new you're using they

Paul Arling

is That's our control yes. QuickSet. what And TVs typically it's would those correct, and technology

you control things the that resident the television, if you’ve to connect the other TV, So may will in. service over-the-top software the in only not of control it the will other that also they but they have plugged things

able Xbox your box, So be plug-in if feed, control television. you it anything TV connected will to a to live your cable or an that

Jeff Van Sinderen

arguments around about than seems that to that sort is just partnering the Comcast, if am just that to then partnership I And it of touch of had give either/or versus thoughts about follow-up us, maybe OTT maybe can integration not latest think that with just around more that speaks kind mistaken. another suggest one I think announced I Great. Okay. they it's either/or. were on I you your you linear can Netflix

Paul Arling

now this a Comcast over-the-top product. They yes, the interface. were incorporated services XX a and their worldwide that. years great They and build obviously few has done their platform they build lead within in have ago Sure

TV combined option that voice one the with they’ve here So where leaders live popular activated. the the over-the-top of services can most be they're

what in that all put it. to the want future going that those easy-to-use there entertainment in like platform interface. options when because us many this see do one think into a they that the frankly they’ve they this platforms build be give who to want they So general as those consumer be going adopt are watch to the to and watch, of We trend believe winners the we are industry

watch NBA there one favorite playoff off watch the and interface. watch and intuitive show within there basketball to they their tonight voice their then and down get game favorite activated Netflix all and use sit easily could voice-activate one will easy and to So show that go

as we more So to think goes are time platforms on. become these popular going

Jeff Van Sinderen

say that are the that it have been include also rolled yet not services? be some fair would platforms out new of to So to likely OTT

Paul Arling

that's Correct, correct.

Jeff Van Sinderen

Okay. much best and can Good. rest of take offline. what have. we very all That's the All right. Thanks I luck,

Paul Arling

you. Thank

Operator

back There remarks. like any are turn the over no Arling to to questions. call closing I'd further for Paul

Paul Arling

at company. a Investor and Marketplace you to note I'd in FBR Thank so, you will to Jaffrey's or conferences; Conference, us we like have month support and your Thank and Okay. our next several joining Consumer of for the continued be today Consumer Riley We Institutional forward there. Piper conference. Services you look XXth Annual Baird's nice Technology Conference day. Global and seeing all B

Operator

participating gentlemen, conclude thank disconnect. in does may for and today's you conference. This and Ladies all you program the

Universal Electronics (UEIC) 3 May 182018 Q1 Earnings call transcript