Revenues for the three months ended June 30, 2005 were $3,011,995, compared to $1,472,023 in the second quarter of 2004. The increase in revenues was mainly attributable to increased contract research revenue and development chemical revenue.
Universal Display reported a net loss of $3,189,980 (or $0.11 per share) for the quarter ended June 30, 2005, compared to a net loss of $4,520,272 (or $0.17 per share) for the same quarter in 2004. The decrease in the net loss was primarily attributable to increased revenues during the second quarter.

The results for the quarter reflect increased interest in our OLED technology. This interest was reinforced by the signing of an OLED patent license agreement with Samsung SDI paving the way for Samsung SDI to integrate our PHOLED technology into AMOLED displays, said Sidney Rosenblatt, Chief Financial Officer of Universal Display Corporation.

Universal Display Corporation the Company that's lighting the way in developing and commercializing OLED technology for displays, lighting and other opto-electronics, announced today that it has been awarded a nine-month, $98,894 Small Business Innovation Research (SBIR) Phase I contract by the U.S. Department of Energy (DOE). The goal of this new program is to demonstrate an innovative approach to increase the brightness and power efficiency of white OLED lighting using Universal Display’s proprietary PHOLED™ phosphorescent OLED and OVPD Organic Vapor Phase Deposition technologies.

In this program entitled, High Efficiency White Mesh Phosphorescent OLEDs, the Company will work to increase OLED efficiency and brightness by employing novel emissive layer architectures that are enabled through the use of its proprietary OVPD process technology.

Univeral Display announced a new 6x6 inch white OLED panel that features 30 lm/W - which is the world's most efficient OLED lighting panel to date. UDC's new panel is based on a design that consists of an array of red, green and blue colored stripes. These panels are tunable (by changing the intensity of each primary color).

The 30 lm/W white OLED panel can emit color temperatures between 2900 and 5700 K. The 30 lm/W was achieved at a color temperature of 4000K (like a cool fluorescent lamp). The panel also featured acolor index of over 80 CRI.