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Thursday, May 2, 2019

=Universal Display (OLED) reported earnings on Thur 2 May 2019 (a/h)

Universal Display beats by $0.34, beats on revs; guides FY19 revs in-line
  • Reports Q1 (Mar) earnings of $0.66 per share, $0.34 better than the S&P Capital IQ Consensus of $0.32; revenues rose 101.4% year/year to $87.8 mln vs the $64.59 mln S&P Capital IQ Consensus.
  • Co issues in-line guidance for FY19, sees FY19 revs of $325-350 mln vs. $337.98 mln S&P Capital IQ Consensus
  • Although the OLED industry is still at an early state where many variables can have a material impact on its growth, and the Company thus caveats its financial guidance accordingly, the Company believes that its 2019 revenue will be approximately in the range of $325 million to $350 million
  • The guidance was prepared utilizing accounting standard ASC Topic 606; under the prior accounting standard ASC Topic 605, the Company estimates that its 2019 revenues would be approximately $395 million to $420 million

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