Needham & Company Maintains a 'Hold' on Universal Display (PANL); Revenues Increase 126% Y-o-Y; Higher Stock-Based Comp Contributes To Larger Loss

Needham & Company maintains a 'Hold' on Universal Display (NASDAQ: PANL).

Needham analyst says, "PANL after the market close yesterday reported a 126% increase in Q1 revenues, including a 159% increase in commercial revenue. The loss for the quarter was larger than expected, due primarily to higher operating expense, notably increased stock-based comp. The company was cash flow positive in the quarter. PANL is well positioned for continued robust growth over the next several years, with the AMOLED market forecast to more than triple this year and grow nearly 80% in 2012. In short, OLED industry fundamentals have never been brighter. The one major remaining uncertainty in the story over the near term is the lack of a new licensing agreement with Samsung (N/R) SMD."

For more ratings news on Universal Display click here and for the rating history of Universal Display click here.

Shares of Universal Display closed at $56.63 yesterday.

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