Universal Display announced its financial results for Q1 2017. The company reported an excellent quarter, with revenues of $55.6 million (up 87% from Q1 2016) and net income of $10.4 million (up from $1.9 million in Q1 2016). Material sales were $46.6 million, up 92% over Q1 2016.
Universal Display believes that the OLED industry is poised to grow faster than earlier expectations in 2017, and the company raised its 2017 guidance to at least $260 million to $280 million - reflecting a year over year growth of 30% to 40%.
UDC's CFO remarked that the company has made "significant progress" towards a blue PHOLED, and the company believes tat it will have a commercial blue for displays. The company cannot yet give a timeframe for that, though.
UDC also discusses micro-LEDs - which the company believes is an "interesting research project", but it is not clear yet whether the technology can really be cost competitive with OLEDs. The company CEO did make a confusing remark that micro-LEDs is a type of backlit-display as opposed to OLEDs which are emissive - but actually micro LEDs are also emissive displays with no backlight (each subpixel is a small tiny LED).