Universal Display reported its financial results for Q2 2019. Revenues were $118.2 million, the operating profit reached $48.7 million and net income was $43.4 million. UDC increased its 2019 revenue guidance to be in the range of $370 million to $390 million. The company ended Q2 with $553 million in cash and equivalents.
The Q2 results include about $15-20 million of orders that UDC estimates were pulled-in from the second half of 2019 as Chinese customers build up inventory for trade-related reasons.