Novaled announced their 2010 financial results

Novaled announced their financial results for 2010. Total revenue increased by 37% to €11.2 million (this was revealed by their CFO last month). OLED license and material sales amounted to €6.12 million. They say that the increase in revenue is mainly due to one customer (which we know to be Samsung). The company had positive EBIDATA for the year, but the cash flow was negative (-€837,000).

Novaled says the 2011 is expected to be another strong year due to new increased OLED production including mass production by new players.

Novaled is a private company, so they do not need to announce these results (that's the first year for them to report on). This may mean that the company is getting ready for an IPO (or perhaps a buyout?).

Posted: Apr 20,2011 by Ron Mertens