** charts before earnings **
** charts after earnings **
** 3 days later **
Universal Display misses by $0.18, misses on revs; guides FY18 revs below consensus; magnitude of 2H18 pick-up in material sales not shaping up as expected
Reports Q3 (Sep) earnings of $0.48 per share, $0.18 worse than the S&P Capital IQ Consensus of $0.66; revenues rose 25.7% year/year to $77.55 mln vs the $92.21 mln S&P Capital IQ Consensus.
Co issues downside guidance for FY18, sees FY18 revs of $240-250 mln vs. $304.62 mln S&P Capital IQ Consensus.
During the quarter, co saw a pick-up in the smartphone market, driven by a number of new OLED display launches, including mobile products from Apple, Google, Huawei, LG, Samsung and others. However, the "magnitude of the second-half pick-up in our material sales is not shaping up to the degree that we had earlier forecasted."
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