Universal Display Corporation reported its financial results for Q4 2023, with revenues of $158 million, and a net income of $62 million. For the whole year (2023), UDC reproted revenues of $576 million and net income of $203 million. The company ended 2023 with $800 million in cash and equivalents, and has increased its quarterly dividend.
UDC says that the market still suffers from soft spending in smartphone and premium TVs. UDC, however, says that it believes that the OLED industry is starting a new and exciting multiyear investment cycle.
UDC also says it is still on track to introduce its phosphorescent blue materials by the end of 2024.
Disclaimer: the author of this post holds shares in Universal Display
Posted: Feb 23,2024 by Ron Mertens
