Universal Display reported its financial results for Q4 2020. Revenues reached a record of $141.5 million, and net income was $54 million. For the whole of 2020, revenues reached $429 million and net income was $133 million.
UDC expects meaningful growth in 2021, and believe revenues will be in the range of $530 to $560 million. The company also announced an increase to its quarterly dividend (to $0.2 per share).
Regarding its OVJP deposition technology, UDC updates that it is ramping up its efforts and expects to install its first 'alpha' system in 2022.