Universal Display reported excellent financial results for Q2 2017. Revenues increased 59% (compared to Q2 2016) to $102.5 million, with material sales increasing 110% to $46.8 million. Net income increased $25.4 million to $47.2 million.
UDC has $380 million in cash and equivalents, and is on the lookout for opportunities to use this money. UDC also increased its guidance for 2017 to be in the range of $285 million to $300 million.
UDC says that they are progressing on their quest to develop a long-lasting blue PHOLED, and they are getting close to a commercial material. Another interesting remark was that most of the income from China comes from BOE Display.
Regarding ink-jet printing, UDC does not expect any OLEDs produced by printing technologies in the foreseeable future - and this includes LG's next-gen OLED TV fab (the P10). Finally, UDC's agreement with Samsung Display expires at the end of the year, and UDC is focused on signing an long-term extension and not just a temporary agreement.