UDC Has a Good Year

Universal Display Corporation (UDC) posted Q4 net profit of $24.8 million, up from $18.1 million a year earlier, on turnover which rose to $74.6 million from $62.3 million. For the year there were profits of $48.1 million, an increase from $14.7 million, on revenue of $198.9 million, up from $191.0 million. The company said that the improvement was due to higher royalty and licence fees and increased contract research sales which more than offset a drop in material sales.