Universal Display reported its financial results for Q3 2018. Revenues increased 26% from last year, to reach $77.6 million (material sales increased 9% to $51.2 million). Net income was $22.8 million (up from $13.5 million in Q3 2017).
UDC lowered its 2018 revenue guidance to $240-250 million. Even though the market has picked up in the quarter for its major customers (SDC and LGD), UDC's revenues and guidance disappointed investors.