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Friday, 09 August 2013 08:24

Light shining in darkness for LED supplier

Written by Nick Farrell

Surprise profits

LED supplier Universal Display has been doing rather well, despite the downturn in the economy.

The company expects full-year results near the high-end of its previous forecast thanks to higher license fees and more orders from flat panel display makers such as Samsung Display. Universal Display said that it expects full-year revenue from its license agreement with Samsung Display to reach $40 million.

The outfit’s OLED screens currently feature in Samsung's flagship Galaxy smartphones, recognised $20 million in revenue from Samsung in the second quarter, boosting license fees by more than a third to $21.2 million. The company narrowed its full-year revenue forecast to the upper end of its previous forecast of $110 million to $125 million.

Analysts only expected the company to make $118.8 million.

Nick Farrell

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