What They Say
One of the bellwether companies that we keep an eye on is UDC and it reported revenues of $134 million which was a reduction of 5.3% from the $141.5 million in Q4 2020. However it was up by 19.3% from $112.3 million last year. Net income was $51.7 million.
Net income was $51.7 million.
In its earnings call, the company pointed out data from Omdia that said that prices for 55″ OLED panels had declined 8.1% YoY, while LCD panel prices had risen 73.9% in the same period, narrowing the difference between OLED and LCD TV ASPs. OLED continues to expand in IT and gaming.
The company also said that it would have an ‘alpha’ system of its organic vapor jet printing deposition technology in 2022.
Total material sales were $79.8 million in the first quarter of 2021 compared to material sales of $62.5 million in the fourth quarter of 2020 and $66.6 million in the first quarter of 2020. Green emitter sales in the first quarter of 2021, which included yellow green emitters, were $60.5 million. This compares to $48.2 million in the fourth quarter of 2020 and $52.6 million in the first quarter of 2020. Red emitter sales in the first quarter of 2021 were $19.1 million.
2021 guidance remains in the $530 million to $560 million range.
What We Think
I have an analyst friend that once predicted that ‘UDC investors will never see their money back’. Not one of his better predictions and one of the reasons that he moved away from displays, perhaps?
It looks as though there might be some news about blue developments during Display Week. Sidney Rosenblatt pointed out that a change to phosphorescent blue would not just be a material change, it needs a redesign of the backplane because the blue is so much more efficient. That means that even if a blue was available today, it might take 9 to 12 months to reach the market. (BR)
