Universal Display reported their financial results for the last quarter. Revenues were $8.4 million, compared to $2.9 a year ago. Most of the rise is attributed to development contracts and the sale of development materials. UDC reported a net loss of $4.4 million. Operating loss was reduced to $1.9 million (down from $6.3 a year ago).
Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer of Universal Display said: “Demand for AMOLED displays is reportedly outstripping supply. Manufacturers are in the process of significantly expanding their capacity for small-area OLED display applications and migration to larger format displays is expected. In addition, the development of white OLED lighting should create another exciting market opportunity for our technology and materials. ”