Universal Display: 2Q Earnings Snapshot
EWING, N.J. (AP) _ Universal Display Corp. (OLED) on Thursday reported second-quarter profit of $10.8 million.
On a per-share basis, the Ewing, New Jersey-based company said it had net income of 23 cents.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The organic light-emitting diode technology company posted revenue of $56.1 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $48.5 million.
Universal Display expects full-year revenue in the range of $280 million to $310 million.
Universal Display shares have decreased 41 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $101.15, a drop of 13 percent in the last 12 months.