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.

UDC emitter and host materials photo

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).

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