Universal Display raised its previous forecast to US$125 million from only US$110 million. According to Thomson Reuters I/B/E/S, the average analysts' estimate was US$118.8 million. For the second quarter, Universal Display generated US$15.4 million or 33 cents for every share compared with the US$11 million or 23 cents for each share in 2012.
Universal Display Corp, an LED supplier, forecasted a full-year result that was close to the high-end of its previous projections. Higher license fees and a surge in orders from manufacturers of flat panel display like Samsung Display Corp. accounted for the raise.
Universal Display, whose results during the second quarter beat analysts' estimates, anticipated that its full-year earnings would reach US$40 million. The revenue would come from a license contract with Samsung Display. Universal Display's OLED screens were featured in the Galaxy smartphones of Samsung. The company said during the second quarter, US$20 million in revenue were earned from Samsung. The company boosted its license fees by greater than a third to US$21.2 million.
Join the Conversation