Universal Display Stock Surges, Riding Growth in OLED Industry

Date: 2017-11-22      Source:

OLED technology and materials supplier Universal Display on November 2nd registered 3Q17 financial results with burgeoning growth in every aspect, due primarily to the incremental demand for OLED in consumer electronics and lighting applications.

Total revenue of 3Q17 witnessed a surge of 104% YoY from USD 30.2 million in 3Q16 to USD 61.7 million. The consolidated revenue in the first nine month (9M17) amounted at USD 219.8 million, drastically up 77% YoY, compared with USD 124.3 million in 9M16. The company attributed the hike to sales of materials and royalty and license fees.

OLED material sales doubled in this quarter to USD 47 million, in a major part because of the growth in phosphorescent emitter sales. Overall 2017 material sales so far came at USD 140.5 million, also seeing a 100% growth in comparison to that in 2016.

Revenue from royalty and license fees rose dramatically by 131% YoY to USD 12 million, compared with USD 5.2 million in 3Q16. Total revenue from intangible assets of 2017 ended September 30 also went up by 38% YoY to USD 72.7 million.

Operating income and net income of 3Q17 successfully turned black, ending at USD 15.8 million and USD 13.5 million or USD 0.28 per diluted share respectively.

 “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 plans for the world’s first foldable OLED display product,” said Sidney Rosenblatt, Executive Vice President and CFO. “We believe that OLEDs are fast becoming a requirement for the best consumer display products around the world.”

BACK LAST:“UV Power” Research Project is Working on LED-replacements for Conventional UV Light Sources NEXT:Illuminex Started to Distribute Mars Hydro LED Grow Lights