UDC Sees Drop in Share Value

OLED company Universal Display saw its share value fall almost 19%, despite a 12% rise in profits, thanks to an 11% increase in sales. The drop was attributed to the company’s lowered turnover forecast for the year, reduced to $195 million from $220 million. However, the factors behind this outlook were all short-term and longer term prospects remain strong, analysts have said. UDC’s investors have received a 60% return over the last year.