Revenues for the three months ended June 30, 2005 were $3,011,995, compared to $1,472,023 in the second quarter of 2004. The increase in revenues was mainly attributable to increased contract research revenue and development chemical revenue.
Universal Display reported a net loss of $3,189,980 (or $0.11 per share) for the quarter ended June 30, 2005, compared to a net loss of $4,520,272 (or $0.17 per share) for the same quarter in 2004. The decrease in the net loss was primarily attributable to increased revenues during the second quarter.
“The results for the quarter reflect increased interest in our OLED technology. This interest was reinforced by the signing of an OLED patent license agreement with Samsung SDI paving the way for Samsung SDI to integrate our PHOLED technology into AMOLED displays”, said Sidney Rosenblatt, Chief Financial Officer of Universal Display Corporation.