For the year ended December 31, 2006, Universal Display had revenue of $11,921,292, compared to $10,147,995 for the year 2005, a 17% increase year-over-year. Revenue growth was driven by increases in commercial chemical sales and license fee revenues. The Company's revenue mix continues to shift as its PHOLED technology transitions to commercial applications.
For 2006, the Company reported a net loss attributable to common shareholders of $15,186,804 or $(0.49) per diluted share, versus a net loss of $15,801,612 or $(0.56) per diluted share for 2005.
Sidney D. Rosenblatt, Chief Financial Officer of Universal Display, said: "For 2007, we expect this trend to continue as our technology gains further commercial adoption. We've already begun to see products in the marketplace that utilize commercial active-matrix OLED displays from one of our major licensees. Our financial position remains strong and we continue to focus on prudent use of our capital as we pursue new licensees for our technology for both display and lighting applications in 2007."