Universal Display reported their financial results for Q3 2015 - with revenues reaching $39.4 million (up from $32.9 million in Q3 2014) and net income of $7 million (up from $4.3 million in Q3 2014).
UDC generated $5.4 million in the quarter - and the company forecasts that free cash flow will reach $100 million in 2015, double that of 2014. UDC has $362 million in cash and equivalents. The revenue guidance for 2015 was maintained at $200 million (but they narrowed the upside and downside to 3%).
Emitter sales grew 40% from Q2 2015 to a new record, and green emitter sales reached 21.4 million. Red emitter sales were $7.3 million, while host sales decreased to $1.4 million. Royalty and license fees reached $5.2 million - mostly from LG Display.
LG Display is becoming more and more important for Universal Display - and they accounted for 48% of total revenues in the quarter - while SDC accounted for 39%. Samsung Display only pays its license in Q2 and Q4, and following UDC's long-term contract with LG, there's a quarter lag in royalties.
Source: Universal Display
Disclosure: the author of this post holds some shares in Universal Display
