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Universal Display's 2014 guidance in-line; materials margins rise Q/Q

  • Universal Display (OLED) expects 2014 revenue of $190M-$205M, in-line with a $198.9M consensus. At the midpoint, the guidance range implies 35% Y/Y revenue growth.
  • Materials sales totaled $25.5M in Q4, -16% Q/Q and +153% Y/Y; green host and emitter sales once more lead the way. Royalty/license fees +50% to $23.1M; Samsung licensing revenue rose to $20M from $15M a year earlier.
  • Materials gross margin rose 210 bps Q/Q and fell 2290 bps Y/Y to 69.8%. Opex rose 52% Y/Y to $30.1M.
  • OLED +0.9% AH. Q4 results, PR
Comments (1)
  • Esekla
    , contributor
    Comments (2036) | Send Message
    There seems to have been some confusion on alternate estimates with other sites quoting something other than the FactSet/Reuters consensus. SA has done the same thing in the past, and deserves credit for cleaning that up here.


    UDC is coming along very nicely, though, with operating income up 180% from 2012. See
    27 Feb, 06:58 PM Reply Like
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