Universal Display -10% on unconvincing quarter and reduced guidance

• Universal Display (NASDAQ:OLED -9.8%) reported lower-than-expected top and bottom-line figures in its Q2 report and although revenue was up 10.8% against the year-ago period, management forecasts upcoming near-term revenue pressure.
• Executive Vice President and CFO Sidney Rosenblatt: "Our second quarter 2016 revenues and net income increased year-over-year, and we maintained our strong margin profile. We are confident that the underlying growth fundamentals of our long-term outlook remain robust, but near-term, we expect our revenue growth will be delayed by about six months."
• The company accordingly revises its revenue guidance for FY 2016 to $190M-$200M.
• Earnings call transcript
• Press release