Universal Display Corporation (UDC) - Page 4

Universal Display reported its financial results for Q1 2022, with revenues of $150.5 million and a net income of $50 million. UDC's results were better than expected as the adoption of OLED displays increases in AR/VR, smartphones, foldables, TVs, IT and automotive markets.

UDC reiterated its estimation that it will be ready to introduce a commercial blue PHOLED material to the market in 2024.

Universal Display reported its financial results for Q4 2021. Revenues for the quarter were $146 million, while net income was $46 million

UDC's 2021 revenues were a record high of $554 million, with a net profit of $184 million. UDC expects the OLED industry to continue to grow in 2022, and the company believes its revenues in 2022 will be between $625 million to $650 million (an increase of 12% - 17%).

According to reports from Korea, Samsung decided to use the same OLED material stack (the so-called M11 stack) in its Galaxy S22 Ultra smartphone (the M11 was used in the S21 Ultra phone). The lower-end Galaxy S21 still uses the M10 stack, same as in the S20.

The lower-end model did get an update - the S22 Plus has been upgraded to the M11 stack (the S21 Plus used the M10 stack).

Universal Display announced that Tianma Micro-electronics has extended its long-term OLED material supply and license agreement. UDC will continue to supply Tianma with its phosphorescent OLED materials and technologies.

UDC did not disclose any more details or financial terms. The original agreement between Tianma and UDC was signed in 2016.

Universal Display reported its financial results for Q3 2021. Revenues were a record $143.6 million, up from $117.1 million in Q3 2020 and net profit was $46.1 million (up from $40.5 million from Q3 2020). The company has about $789 million in cash and equivalents, the it reiterates its full-year 2021 revenue guidance to be between $530 million and $560 million.

Regarding its blue PHOLED R&D effort, UDC says it is making "excellent progress", and the company believes that a commercial blue material is a question of when and not if.

DSCC updated its AMOLED material market forecast, saying that the market will reach $1.4 billion in 2021 (up 32% from 2020), and grow at a 16% CAGR from 2019 ($927 million) to 2025, to reach $2.18 billion by 2025.

DSCC takes a look into the material cost for LG Display's WOLED TV panels. LGD will likely manage to implement incremental improvements in material utilization and price, which will enable the company to almost halve the material cost of its TV panels- from $88.14 per sqm in 2019 to $47.19 per sqm by 2025.

Universal Display reported its financial results for Q2 2021. Revenues were $129.7 million, and net income was $40.5 million.

The company expects its 2021 revenues to be in the range of $530 million to $560 million - which will mean a revenue growth of around 30% over 2020.

Universal Display reported its financial results for Q1 2021. UDC's revenues for the quarter were $134 million (down from $141.5 million in Q4 2020 and up from $112.3 million from Q1 2020) and net income was $51.7 million.

At the end of the quarter, UDC had $727 million in cash or equivalents. The company retained its 2021 guidance with revenues between $530 - $560 million.

Universal Display and Visionox announced that the companies extended their long-term OLED material supply and license agreements. The new agreement runs for five years - that's the only details of the new agreement that has been disclosed.

The original agreement between Visionox and UDC was signed in 2018.

Universal Display and LG Display announced that the companies have extended their long-term agreements. LGD and UDC signed new OLED Technology License and Material Purchase Agreements. The new extended agreements run for five years.

UDC and LG did not disclose any further details or any financial terms. The two companies signed the original agreement in 2015.