Universal Display (OLED) Misses Q4 EPS by 4c, Sales Beat

Universal Display (NASDAQ: OLED) reported Q4 EPS of $0.28, $0.04 worse than the analyst estimate of $0.32. Revenue for the quarter came in at $56.2 million versus the consensus estimate of $48.9 million.

“We are pleased to report another year of record results,” said Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer of Universal Display. “As we embark on 2015, we anticipate it to be an exciting year, a growth year and a bit of a transitional year. During the year, our customers are scheduled to begin ramping new commercial OLED TV and flexible display panel production, while new mobile product introductions are expected to help drive OLED fab utilization rates after experiencing some headwinds in 2014. The specific timing of these events is not clear, and will impact our revenue growth for 2015. As a result of these highly dynamic variables, we will approach our guidance differently this year and provide a baseline revenue forecast, which we believe will have limited downside risk and a favorable amount of upside potential. Our current 2015 base revenue forecast is $200 million, which we believe has a downside range of approximately 5% and an upside potential of approximately 15%. This forecast includes our license fee from Samsung Display, which will be $60 million this year, and also factors in the quarter lag in earned royalties from LG Display."

For earnings history and earnings-related data on Universal Display (OLED) click here.

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