Universal Display reported its financial results for Q1 2019, with revenues of $87.8 million, an operating profit of $34.3 million and a net income of $31.5 million. UDC sees solid momentum in the OLED industry and it is raising its 2019 revenue guidance - to be in the range of $345 million to $365 million. UDC ended the quarter with $527 million in cash and equivalents.
Regarding its blue emissive system development, UDC says that it continues to make "excellent progress" in uts ongoing development work. UDC still cannot predict when its blue OLED will be commercially available.