Universal display corporation (OLED)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
REVENUE:
Material sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,465

22,315

24,304

27,796

34,128

24,324

26,818

28,138

27,494

35,926

35,327

25,538

30,286

27,137

12,752

10,111

10,984

12,848

10,529

10,840

15,386

6,681

4,537

-

-

Royalty and license fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,209

42,018

5,342

34,441

5,224

33,733

4,375

27,992

5,357

28,064

1,779

23,050

1,456

21,201

1,299

15,445

396

15,435

422

5,447

4,564

2,665

2,669

-

-

Contract research services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,540

59

57

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Technology development and support revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

67

35

30

-

41

137

733

890

1,084

1,021

925

2,577

1,124

1,704

1,669

2,372

1,827

1,906

2,395

-

-

Commercial revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,836

1,951

Developmental revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,219

6,494

REVENUE

112,277

101,729

97,515

118,168

87,765

70,143

77,550

56,149

43,572

115,867

61,683

102,513

55,566

74,577

30,214

64,392

29,703

62,312

39,419

58,092

31,223

56,173

32,892

64,127

37,839

49,478

32,826

49,359

14,976

28,133

12,504

29,987

12,620

18,659

21,777

11,252

9,601

7,055

8,446

COST OF SALES

22,459

18,202

17,286

24,072

15,814

18,325

16,123

11,635

7,458

16,936

13,465

11,310

12,987

9,094

6,458

5,684

5,052

8,084

7,246

39,086

8,581

12,079

7,388

11,951

9,897

7,732

9,783

8,282

3,092

735

1,094

1,611

1,088

1,286

2,406

142

-103

329

218

Gross margin

89,818

83,527

80,229

94,096

71,951

51,818

61,427

44,514

36,114

98,931

48,218

91,203

42,579

65,483

23,756

58,708

24,651

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

OPERATING EXPENSES:
Research and development

19,497

19,827

16,787

18,833

15,829

14,795

13,616

12,949

12,357

15,045

11,596

10,685

11,818

11,181

10,118

10,969

10,476

12,641

11,434

10,647

9,919

12,539

7,915

10,544

10,156

10,099

7,862

7,316

8,938

7,958

8,177

7,236

6,661

19,053

6,080

5,551

-6,555

5,760

5,500

Selling, general and administrative

15,403

19,082

12,623

15,939

11,969

12,526

12,120

11,562

10,791

15,197

11,695

9,839

10,077

10,063

8,465

7,688

6,660

8,639

7,224

6,983

6,200

8,535

6,625

6,545

6,430

6,827

6,411

6,336

5,171

4,775

5,275

5,189

4,311

13,359

4,957

4,496

-3,872

3,452

3,624

Amortization of acquired technology and other intangible assets

5,490

5,493

5,493

5,490

5,486

5,483

5,493

5,495

5,491

5,498

5,498

5,495

5,492

5,452

5,461

2,830

2,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Patent costs

1,638

1,688

1,659

1,716

1,770

1,773

1,937

2,029

1,725

1,914

1,875

1,674

1,547

1,775

1,900

1,230

1,344

-

-

4,462

3,967

-6,510

4,081

4,748

3,972

4,235

3,899

4,522

4,617

5,526

3,736

2,255

1,868

5,202

1,938

1,915

-1,613

1,177

843

Patent costs and amortization of acquired technology and other intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,032

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Royalty and license expense

3,284

2,948

2,837

3,454

2,537

1,968

2,229

1,568

1,231

3,397

1,764

2,991

1,587

2,167

815

1,966

875

1,807

1,105

1,673

785

1,459

803

1,501

756

1,165

624

1,172

312

754

283

786

250

882

462

218

-202

218

168

Total operating expenses

45,312

49,038

39,399

45,432

37,591

36,545

35,395

33,603

31,595

41,051

32,428

30,684

30,521

30,638

26,759

24,683

22,105

-27,571

31,041

62,851

29,452

-2,216

26,812

35,289

31,211

30,058

28,579

27,628

22,130

19,748

18,565

17,077

14,178

15,092

15,843

12,322

12,345

10,938

10,355

OPERATING INCOME

44,506

34,489

40,830

48,664

34,360

15,273

26,032

10,911

4,519

57,880

15,790

60,519

12,058

34,845

-3,003

34,025

2,546

26,886

8,378

-4,759

1,771

17,074

6,080

28,838

6,628

19,420

4,247

21,731

-7,154

8,385

-6,061

12,910

-1,558

3,567

5,934

-1,070

-2,744

-3,882

-1,909

Interest income, net

2,147

2,459

2,748

2,757

2,831

2,504

2,118

1,766

1,271

966

861

796

671

568

568

653

324

190

232

188

173

109

187

193

218

217

206

178

210

254

272

357

357

350

364

184

96

64

61

INTEREST EXPENSE

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7

12

12

-

17

21

17

16

13

10

8

5

5

18

20

35

13

-8

10

5

5

Other income, net

202

27

53

405

282

-17

-7

-12

-47

3

6

6

-19

-

-68

-1,829

-

-

-16

278

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest and other income, net

2,349

2,486

2,801

3,162

3,113

2,487

2,111

1,754

1,224

969

867

802

652

537

500

-1,176

324

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

LOSS ON STOCK WARRANT LIABILITY

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8,860

240

13,356

-8,926

-3,362

-2,582

INCOME BEFORE INCOME TAXES

46,855

36,975

43,631

51,826

37,473

17,760

28,143

12,665

5,743

58,849

16,657

61,321

12,710

35,382

-2,503

32,849

2,870

26,845

8,587

-4,305

1,932

17,238

6,250

29,010

6,829

19,621

4,440

21,899

-6,952

8,634

-5,794

13,249

-1,221

3,898

6,525

3,602

-11,584

-7,186

-4,436

INCOME TAX EXPENSE

8,700

10,501

6,700

8,400

6,000

-1,513

5,300

1,900

-216

26,036

3,137

14,134

2,345

9,563

-1,003

11,047

921

8,757

1,540

7,466

618

4,112

1,966

8,588

2,807

-38,265

-1,102

6,517

-2,194

3,249

-326

2,285

0

-1,258

536

-289

297

0

0

NET INCOME

38,155

26,428

36,962

43,440

31,474

19,249

22,818

10,814

5,959

32,813

13,520

47,187

10,365

25,819

-1,500

21,802

1,949

18,088

7,047

-11,771

1,314

13,126

4,284

20,422

4,022

57,886

5,542

15,382

-4,758

5,385

-5,468

10,964

-1,221

5,734

5,989

3,313

-11,881

-7,186

-4,436

NET INCOME PER COMMON SHARE:
Unrealized gain on available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

215

-217

11

-

-

Amortization of prior service cost and actuarial loss for retirement plan included in net periodic pension cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

150

150

150

-

-

TOTAL OTHER COMPREHENSIVE INCOME (LOSS)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-365

-67

-161

-

-

COMPREHENSIVE INCOME (LOSS)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,354

3,246

-11,720

-

-

BASIC

0.80

0.56

0.78

0.92

0.66

0.40

0.48

0.23

0.13

0.70

0.28

0.99

0.22

0.55

-0.03

0.46

0.04

0.38

0.15

-0.25

0.03

0.28

0.09

0.44

0.09

1.25

0.12

0.34

-0.10

0.12

-0.12

0.24

-0.03

0.18

0.13

0.07

-0.31

-0.19

-0.12

DILUTED

0.80

0.56

0.78

0.92

0.66

0.40

0.48

0.23

0.13

0.69

0.28

0.99

0.22

0.55

-0.03

0.46

0.04

0.38

0.15

-0.25

0.03

0.28

0.09

0.44

0.09

1.24

0.12

0.33

-0.10

0.13

-0.12

0.23

-0.03

0.29

0.12

-0.03

-0.31

-0.19

-0.12

WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE:
BASIC

47,093

46,998

46,980

46,967

46,892

46,876

46,869

46,868

46,783

46,695

46,801

46,742

46,661

44,984

46,947

46,927

46,774

48,549

46,542

46,388

45,785

46,370

46,197

46,266

46,177

45,996

45,912

45,859

45,823

46,096

46,006

45,953

45,749

45,716

45,314

45,024

38,895

37,741

37,362

DILUTED

47,122

47,039

47,013

46,996

46,931

46,922

46,914

46,901

46,848

46,795

46,871

46,810

46,742

45,246

46,947

47,041

46,907

50,650

46,723

46,388

46,214

46,840

46,633

46,614

46,651

47,260

46,594

46,496

45,823

48,921

46,006

46,857

45,749

49,664

46,799

45,201

38,895

37,741

37,362

CASH DIVIDENDS DECLARED PER COMMON SHARE

0.15

0.10

0.10

0.10

0.10

0.06

0.06

0.06

0.06

0.03

0.03

0.03

0.03

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-