Universal Display (NASDAQ: OLED) reported Q1 EPS of $0.22, versus $0.04 reported last year. Revenue for the quarter came in at $55.6 million versus the consensus estimate of $33.76 million.

GUIDANCE:

Universal Display sees FY2017 revenue of at leaset $260-280 million, versus the consensus of $247.04 million.

“We are pleased to report excellent first quarter results across the board, including record emitter sales,” said Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer of Universal Display. “It is an exciting time for the OLED industry. We are encouraged by the momentum that we are seeing from our customers as well as from the supply chain that supports the OLED ecosystem. With customers’ mounting investments in new manufacturing capacity and the development of an array of new display and lighting products, we expect our growth trajectory to be positive for the foreseeable future.”

Rosenblatt continued, “As we look forward, we believe that the OLED industry is poised to grow faster than earlier expectations this year. We are therefore raising our 2017 revenueguidance range to at least $260 million to $280 million, reflecting year-over-year growth of 30% to 40%. Additionally, we are pleased to announce that the Board of Directors approved a second quarter dividend of $0.03 per share.”

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