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