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Press release, May 8; Alex Wolfgram, DIGITIMES [Friday 8 May 2015] Universal Display has announced that for the first quarter of 2015 its net income of US$1.3 million, or US$0.03 per diluted share, on revenues of US$31.2 million, compared to net income of US$4 million, or US$0.09 per diluted share, on revenues of US$37.8 million for the first quarter of 2014. "During the first quarter, we saw the introduction of new OLED displays, including flagship products from our top customers, which led to higher volumes of our red and green emitters sold, offset by volume pricing discounts. The quarter also reflected the continued downward trend of host sales, consistent with our expectations. As the year progresses, we expect the continued proliferation of OLED adoption in the marketplace to drive revenue growth in the second half of this year," said Sidney D Rosenblatt, Executive VP and CFO of Universal Display. "The broadening of the OLED display product portfolio from flexibles and wearables, including smartwatches, to high-end smartphones, mid-end smartphones, high-end tablets, Full HD and Ultra HD (4K) TVs, exemplifies the growing breadth of the OLED display market opportunity. On the lighting front, developmental activity continues to flourish as efficacy rates and lifetimes increase. Broadly speaking, we believe that OLED technology can provide the design freedom for display and lighting makers to dramatically alter the consumer and illumination landscape, and create differentiated, high-performing, energy-efficient, innovative products." The company reported revenues of US$31.2 million, compared to revenues of US$37.8 million in the same quarter of 2014. Material sales were US$26.8 million, down 5% sequentially and down 24% compared to the first quarter of 2014, primarily due to a decrease in host material volume. Royalty and license fees were US$4.4 million, up from US$1.8 million in the first quarter of 2014. No revenue was recognized under the Samsung Display (SDS) licensing agreement in the first quarter, as SDC is obligated to make licensing payments in the second and fourth quarters of the year. For 2015, the company expects to recognize US$60 million in SDC licensing revenues for the full year. Royalty revenue was also not recognized under the new LG Display (LGD) licensing and royalty agreement in the first quarter of 2015, as these revenues are recognized one quarter in arrears when the royalty amount is reported to us. The company reported operating income of US$1.8 million, down from US$6.6 million for the first quarter of 2014. Operating expenses were US$29.5 million, compared to US$31.2 million in the same quarter of 2014. Cost of materials was US$8.6 million, compared to US$9.9 million in the first quarter of 2014, reflecting the decline in host material sales volume. During the first quarter, the company generated US$47 million in operating cash flow, mainly stemming from the receipt of upfront license fees, prepaid royalties and milestone payments. These resulted in working capital increasing to US$367.9 million at the end of the quarter. |
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| aus der Diskussion: | Universal Display : Plastikdisplays sind keine science-fiction! |
| Autor (Datum des Eintrages): | R-BgO (08.05.15 14:17:05) |
| Beitrag: | 541 von 614 (ID:49740768) |
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