Universal Display one of theleader in developing and delivering state-of-the-art,OLED technologies announced their results for the first quarter 2014.
UDC report that the net income of $4.0 million, or $0.09 per diluted share, on revenues of $37.8 million. For the first quarter of 2013, the Company reported a net loss of $4.8 million, or $(0.10) per diluted share, on revenues of $15.0 million. The revenues of 2014 wer 37.8 million dollar, in 2013 15 million dollar. This boost are driven by the 177 percent increaso in OLED material sales. Universal display says that they have big success to sell red emitter, green emitter and green host materials. License fees were $1.8 million in the first quarter of 2014, up from $1.3 million in Q1 2013. Technology development and support revenue was $0.7 million in the first quarter of 2014 compared to $0.9 million in the same quarter of 2013.
Vice President and Chief Financiel Officer Sid Rosenblatt says that UDC delivering high performance, quality assured, proprietary phosphorescent emitters and hosts to our growing list of OLED customers.
Another factor is that the company increased the production activity.
Universal Display says that in recent months we will see completely new products, including flagship launches, with UDC phosphorescent OLED materials and technologies.
UDC is excited about new kind of categories of products in the mobile, wearable, Television,flexible, foldabel and lighting markets!
By the way Samsung Display did not pay anything in the first quarter because SDC is obligated to make licensing payments in the second and fourth quarters of the year. For 2014, UDC expects to recognize $50 million in Samsung Display licensing revenues for 2014. Universal DIsplay expects 190 to 205 million dollar revenues in 2014.
Universal Display entered into more than 30 business agreements with leading manufacturers in Japan, Korea, Taiwan, China, Europe and the U.S. with AU Optronics, DuPont Displays, Innolux, Konica Minolta, LG Chem, LG Display, Lumiotec, NEC Lighting, Ltd., Panasonic Idemitsu OLED Lighting Co., Ltd., Samsung Display, Seiko Epson, and Sony.