Universal Display reported its financial results for Q4 2021. Revenues for the quarter were $146 million, while net income was $46 million
UDC's 2021 revenues were a record high of $554 million, with a net profit of $184 million. UDC expects the OLED industry to continue to grow in 2022, and the company believes its revenues in 2022 will be between $625 million to $650 million (an increase of 12% - 17%).
The most interesting comment was regarding UDC's blue PHOLED development project - the company now believes it is on track to meet preliminary target specs by the end of 2022 and to introduce a commercial blue PHOLED material in 2024. This could be exciting news for the OLED industry!
UDC increased its quarterly dividend by 50%, to 30 cents per share.