Universal Display (NASDAQ: OLED) reported Q4 EPS of $0.55, $0.13 better than the analyst estimate of $0.42. Revenue for the quarter came in at $74.6 million versus the consensus estimate of $68.6 million.

“We are pleased to report that 2016 finished on a strong note,” said Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer of Universal Display. “In the fourth quarter, total emitter sales increased 25% sequentially, the adoption of next-generation emitters commenced, and with the robust activity for new UniversalPHOLED materials in the pipeline, we embarked on our next expansion phase with PPG Industries to double our phosphorescent emitter production capacity.”

Rosenblatt continued, “Looking forward, we see extremely positive momentum in our business and believe that we are well positioned to capture the tremendous opportunities in front of us. With our bustling customer pipeline, we have broadened and further increased the depth of our R&D team to respond to the exciting challenges and opportunities in the marketplace for today and tomorrow. We have the innovation, commitment to operational excellence, agility and flexibility to drive the invention and development of the best OLED technologies and phosphorescent materials for our customers and partners worldwide.”

GUIDANCE:

Universal Display sees FY2017 revenue of $230-250 million, versus the consensus of $243.9 million.

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