What They Say
UDC announced its Q3 result with record revenue of $143.6 million and confirmed its guidance of $530 million to $560 million for the year.
- The increase in revenue was due to higher royalty and license fees, as well as higher material sales primarily due to stronger demand in the OLED display market.
- Revenue from material sales was $75.6 million in the third quarter of 2021 as compared to $68.7 million in the third quarter of 2020.
Net income for the quarter was $46.1 million, up from $40.5 million last year.
What We Think
UDC has done a good job of maintaining its position in OLED materials. I have a display industry analyst friend who used to say that “UDC early investors will never get their money back”. Hmmm, that didn’t turn out to be quite right! These days, I suspect, he wishes he had invested…. (BR)
