08.06.21
Universal Display reported financial results for the second quarter ended June 30, 2021.
Total revenue in the second quarter of 2021 was $129.7 million as compared to $58 million in the second quarter of 2020. Revenue from material sales was $77.4 million in the second quarter of 2021 as compared to $31.9 million in the second quarter of 2020. Revenue from royalty and license fees was $48.2 million in the second
Operating income was $49.9 million in the second quarter of 2021 as compared to operating loss of $1.2 million in the second quarter of 2020.
“Looking to the year, we are on track to achieve approximately 30% year-over-year sales growth, translating into a new record high for annual revenue for the Company,” said Sidney D. Rosenblatt, EVP and CFO of Universal Display. “As we anticipate ongoing momentum in the OLED industry to increase in 2021 and beyond, we are excited about the long and vast runway of forecasted growth for the market. Given this expected growth, we are continuing to fuel and fortify our innovation engine, expand our global infrastructure, and invest in our people to advance our leadership position and further enable our customers and the OLED ecosystem.”
Total revenue in the first half of 2021 was $263.7 million as compared to $170.2 million in the first half of 2020. The increase in revenue was due to strengthened demand for OLED products utilizing UDC’s emitter material, as well as the recovery in sales that were adversely affected by the impact of the COVID-19 pandemic during the three months ended June 30, 2020.
Revenue from material sales was $157.2 million in the first half of 2021 as compared to $98.5 million in the first half of 2020. Revenue from royalty and license fees was $99.1 million in the first half of 2021 as compared to $65.5 million in the first half of 2020.
Operating income was $113.5 million in the first half of 2021 as compared to $43.3 million in the first half of 2020.
Total revenue in the second quarter of 2021 was $129.7 million as compared to $58 million in the second quarter of 2020. Revenue from material sales was $77.4 million in the second quarter of 2021 as compared to $31.9 million in the second quarter of 2020. Revenue from royalty and license fees was $48.2 million in the second
Operating income was $49.9 million in the second quarter of 2021 as compared to operating loss of $1.2 million in the second quarter of 2020.
“Looking to the year, we are on track to achieve approximately 30% year-over-year sales growth, translating into a new record high for annual revenue for the Company,” said Sidney D. Rosenblatt, EVP and CFO of Universal Display. “As we anticipate ongoing momentum in the OLED industry to increase in 2021 and beyond, we are excited about the long and vast runway of forecasted growth for the market. Given this expected growth, we are continuing to fuel and fortify our innovation engine, expand our global infrastructure, and invest in our people to advance our leadership position and further enable our customers and the OLED ecosystem.”
Total revenue in the first half of 2021 was $263.7 million as compared to $170.2 million in the first half of 2020. The increase in revenue was due to strengthened demand for OLED products utilizing UDC’s emitter material, as well as the recovery in sales that were adversely affected by the impact of the COVID-19 pandemic during the three months ended June 30, 2020.
Revenue from material sales was $157.2 million in the first half of 2021 as compared to $98.5 million in the first half of 2020. Revenue from royalty and license fees was $99.1 million in the first half of 2021 as compared to $65.5 million in the first half of 2020.
Operating income was $113.5 million in the first half of 2021 as compared to $43.3 million in the first half of 2020.