Universal Display Corp. ( (OLED) ) has released its Q4 earnings. Here is a breakdown of the information Universal Display Corp. presented to its investors.
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Universal Display Corporation is a leading company in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials, primarily serving the display and solid-state lighting industries. The company has a significant portfolio of patents and offers its UniversalPHOLED® technology, known for high efficiency and eco-friendliness.
In its latest earnings report, Universal Display Corporation announced record-breaking financial performance for 2024, driven by strong demand in the OLED market. The company highlighted an expanding OLED product roadmap and increased investment from panel makers, particularly in the IT and automotive sectors.
Key financial metrics for the fourth quarter of 2024 include a total revenue of $162.3 million, with material sales revenue increasing to $93.3 million from $82.2 million in the previous year. However, a decrease in royalty and license fees was noted, dropping to $64.4 million from $72.9 million. The company’s net income for the quarter was $46.0 million, or $0.96 per diluted share, down from $62.0 million in the same period the previous year.
For the full year 2024, Universal Display reported total revenues of $647.7 million, a significant increase from $576.4 million in 2023. Operating income rose to $238.8 million, and net income reached $222.1 million, or $4.65 per diluted share. The company also faced restructuring costs and foreign currency exchange losses, affecting earnings per share.
Looking ahead, Universal Display Corporation anticipates 2025 revenue to be in the range of $640 million to $700 million, reflecting a cautiously optimistic outlook due to variable factors influencing the OLED market. The company remains committed to supporting its customers and driving innovation in OLED technologies.
