Universal Display (OLED) Tops Q2 EPS by 27c

Universal Display (NASDAQ: OLED) reported Q2 EPS of $0.99, $0.27 better than the analyst estimate of $0.72. Revenue for the quarter came in at $102.5 million versus the consensus estimate of $87.01 million.

“We are pleased to report solid year-over-year growth across the board, leading to record revenues and earnings,” said Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer of Universal Display. “Our outstanding performance stems from over two decades of consistently investing in our pioneering technology, scaling our critical mass, and streamlining our operational flexibility from invention, to pilot, to mass production, in addition to a vibrant growing OLED market. Through these twenty-plus years, we have accumulated a robust wealth of knowledge and know-how, expanded our extensive IP matrix, and built-up our R&D prowess to innovate, develop and deliver leading-edge materials and technologies to our growing customer base.”

Rosenblatt continued, “With the OLED revolution gaining strength, our momentum is growing as well. With our tremendous experience, steadfast focus on execution, and expanding product portfolio of new OLED materials and technologies, we believe that we are well-positioned to leverage the vast opportunities in this flourishing market to drive profitable growth and deliver the most energy-efficient, high performance and cost-effective emissive layer solutions to our customers and partners.”

2017 Guidance

Although the OLED industry is still at an early state where many variables can have a material impact on its growth, and the Company thus caveats its financial guidance accordingly, the Company believes that its revenues will be in the range of $285 million to $300 million for fiscal 2017 (*** consensus is $288.06 million).

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

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