Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Universal Display Announces 3Q 2017 Financial Results - Ink World Magazine

What are you searching for?

Sign in
Flexible Electronics News

Universal Display Announces 3Q 2017 Financial Results

Total revenue increased 77% to $219.8 million in the first nine months of 2017.

Author Image

By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Universal Display reported financial results for the third quarter ended September 30, 2017.
 
Total revenue increased 104% to $61.7 million in the third quarter, compared with $30.2 million in the third quarter of 2016, driven by higher material sales as well as royalty and license fees.
 
“We are pleased to report another outstanding quarter of solid results,” said Sidney Rosenblatt, EVP and CFO of Universal Display. “During the quarter, momentum in the OLED industry continued to grow, from the launch of new flagship OLED smartphones, to increasing demand for OLED TVs, to announced launch plans for the world’s first foldable OLED display product. It is exciting to see the consumer market’s broadening embrace of OLEDs in a myriad of products, including wearables, smartphones, IT, automotive, TVs, as well as the emergence of OLED lighting.”
 
Rosenblatt continued, “We believe that OLEDs are fast becoming a requirement for the best consumer display products around the world. As a leading enabler in the ecosystem, we believe that our proprietary phosphorescent materials and technologies are key to unlocking the performance, value, and power efficiency of OLEDs.”
 
Revenue from material sales increased 100% to $47.0 million in the third quarter, compared with $23.5 million in the third quarter of 2016, due to an increase in phosphorescent emitter sales.
 
Revenue from royalty and license fees increased 131% to $12.0 million in the third quarter, compared with $5.2 million in the third quarter of 2016.
Operating income increased by $18.8 million to $15.8 million in the third quarter, compared with an operating loss of $3.0 million in the third quarter of 2016. Net income increased by $15.0 million to $13.5 million or $0.28 per diluted share in the third quarter, compared with a net loss of $1.5 million or $0.03 per diluted share in the third quarter of 2016.
 
Total revenue increased 77% to $219.8 million in the first nine months, compared with $124.3 million in the first nine months of 2016, driven by higher material sales as well as royalty and license fees.
 
Revenue from material sales increased 100% to $140.5 million in the first nine months, compared with $70.1 million in the first nine months of 2016, due to an increase in phosphorescent emitter sales. Revenue from royalty and license fees increased 38% to $72.7 million in the first nine months, compared with $52.6 million in the first nine months of 2016.
 
Operating income increased by $54.7 million to $88.4 million in the first nine months, compared with $33.7 million in the first nine months of 2016. Net income increased by $48.8 million to $71.1 million or $1.49 per diluted share in the first nine months, compared with $22.3 million or $0.47 per diluted share in the first nine months of 2016.

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters

Topics