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

|About: Universal Display Corporation (OLED)|By:, SA News Editor

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