Universal Display reported their financial results for Q1 2015 - and there were no surprises this time - revenues were $31.2 million and net income was $1.3 million. Material sales were $26.8 million - and the company did not receive royalties from SDC this quarter - and also not from LG Display (following the new long-term contract with LG, there's a quarter lag in royalties).

UDC expects a stronger second half, as wearables, flexible displays and OLED TVs enter the market. The reiterated their guidance for revenues of $200 million (with possible 5% downside and 15% upside).

During Q1, UDC generated $47 million in operating cash flow (mainly from the receipt of upfront license fees, prepaid royalties and milestone payments). The company reports $328.5 million in cash and equivalents.

Disclosure: the author of this post holds some shares in Universal Display