13 unchanged sentences
(1) Of the repurchases in October, November and December, 625, 3,708 and 23,522 shares, respectively, represent common shares of the Company that were owned and tendered by employees to satisfy option cost and tax withholding obligations in connection with stock option exercises and the vesting of restricted shares.
−Removed: (2) On October 28, 2020, our Board of Directors authorized a new share repurchase program (the "November 2020 Program"), which replaced in its entirety the Company's previous repurchase program in place prior to October 28, 2020.
−Removed: Pursuant to the November 2020 Program, we may, from time to time until February 18, 2021, repurchase up to 500,000 shares of our common stock.
−Removed: At December 31, 2020, we had 500,000 shares of common stock authorized for repurchase remaining under the November 2020 Program.
+Added: (2) On October 20, 2021, our Board of Directors approved a new repurchase plan with an effective date of November 9, 2021 (the "November 2021 Program").
+Added: Pursuant to the November 2021 Program, we were authorized to repurchase up to 300,000 shares of our common stock at predetermined prices until the earlier of the repurchase of all 300,000 shares or February 17, 2022.
+Added: The November 2021 Program was completed in December 2021, upon repurchase by us of all 300,000 shares as authorized.
On February 10, 2022, our Board approved a new share repurchase program with an effective date of February 22, 2022 (the "February 2022 Program").
1 unchanged sentence
We may repurchase shares of common stock in privately negotiated and/or open-market transactions, including pursuant to plans complying with Rule 10b5-1 promulgated under the Exchange Act.
−Removed: Equity Compensation Plans
−Removed: Information regarding our equity compensation plans is incorporated by reference to "ITEM 12.
−Removed: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS" under the caption "Equity Compensation Plan Information".
Performance Chart
15 unchanged sentences
This information should not be deemed to be "soliciting material" or to be "filed" with the SEC or subject to the liabilities of Section 18 of the Exchange Act nor should this information be incorporated by reference into any prior or future filings under the Exchange Act, except to the extent that we specifically incorporate it by reference into a filing.
−Removed: SELECTED CONSOLIDATED FINANCIAL DATA
−Removed: The information below is not necessarily indicative of the results of future operations and should be read in conjunction with "ITEM 7.
−Removed: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS", and the Consolidated Financial Statements and notes thereto included in "ITEM 8.
−Removed: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA", of this Form 10-K, which are incorporated herein by reference, in order to further understand the factors that may affect the comparability of the financial data presented below.
−Removed: Year Ended December 31,
−Removed: (In thousands, except per share data) 2020 2019 2018 2017 2016
−Removed: Net sales $ 614,680 $ 753,477 $ 680,241 $ 695,790 $ 651,371
−Removed: Operating income (loss) $ 37,267 $ 15,315 $ (1,665) $ 10,670 $ 25,397
−Removed: Net income (loss) attributable to Universal Electronics Inc.
−Removed: $ 38,572 $ 3,630 $ 11,924 $ (10,323) $ 20,354
−Removed: Earnings (loss) per share attributable to Universal Electronics Inc.:
−Removed: Basic $ 2.78 $ 0.26 $ 0.85 $ (0.72) $ 1.41
−Removed: Diluted $ 2.72 $ 0.26 $ 0.85 $ (0.72) $ 1.38
−Removed: Shares used in computing earnings (loss) per share:
−Removed: Basic 13,893 13,879 13,948 14,351 14,465
−Removed: Diluted 14,166 14,109 14,060 14,351 14,764
−Removed: Cash dividends declared per common share — — — — —
−Removed: Gross profit 28.7 % 22.6 % 20.8 % 23.8 % 25.2 %
−Removed: Operating expenses as a % of net sales 22.6 % 20.6 % 21.1 % 22.3 % 21.3 %
−Removed: Operating margin (deficit) 6.1 % 2.0 % (0.2) % 1.5 % 3.9 %
−Removed: Net income (loss) as a % of net sales 6.3 % 0.5 % 1.8 % (1.5) % 3.1 %
−Removed: Return on average assets 7.2 % 0.6 % 2.0 % (1.8) % 4.0 %
−Removed: (In thousands, except per share data) 2020 2019 2018 2017 2016
−Removed: Working capital $ 147,333 $ 112,296 $ 100,597 $ 74,362 $ 108,291
−Removed: Ratio of current assets to current liabilities 1.8 1.4 1.4 1.2 1.5
−Removed: Total assets $ 510,290 $ 564,159 $ 555,596 $ 608,430 $ 521,036
−Removed: Cash and cash equivalents $ 57,153 $ 74,302 $ 53,207 $ 62,438 $ 50,611
−Removed: Line of credit $ 20,000 $ 68,000 $ 101,500 $ 138,000 $ 49,987
−Removed: Stockholders' equity $ 313,301 $ 274,399 $ 262,960 $ 253,549 $ 280,510
−Removed: Book value per share (1)
−Removed: $ 22.75 $ 19.68 $ 19.03 $ 18.04 $ 19.28
−Removed: Ratio of liabilities to liabilities and stockholders' equity 38.6 % 51.4 % 52.7 % 58.3 % 46.2 %
−Removed: (1) Book value per share is defined as stockholders' equity divided by common shares issued less treasury stock.
−Removed: The comparability of information for 2020, 2019, 2018, and 2017 compared to previous years is affected by the acquisition of the net assets of RCS Technology, LLC ("RCS") during the second quarter of 2017.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.