Universal Display reported its financial results Q4 2016: revenues were $74.6, up 20% from Q4 2015. Material sales were $29.2 million (emitter sales increase 25% over Q3 2016) and Samsung's licensing revenues were $37.5 million. The net income in Q4 2016 was $25.8 million.
UDC's revenues in 2016 reached $198.9 million, up slightly from 2015 ($191 million) - mostly driven by higher royalty and license fees (commercial material sales revenues were lower than in 2015). Net income in 2016 was $48.1 million, and operating cash flow was $80.3 million.
UDC sees an "extremely positive momentum in its business" and the company is "well positioned to capture the tremendous opportunities" in the OLED market. The company has $343 million in cash and equivalents. For 2017, UDC believes that its revenues will be in the range of $230 million to $250 million. UDC also announced its first dividend - a quarterly cash dividend of $0.03 per share ($1.4 million in total).
UDC also announced that it is accelerating its OVJP R&D, and the company is starting to talk to companies regarding the commercialization of this new production technology. This is going to be a long process though and UDC expects it to take a few years before OVJP can really be deployed in production.