06.25.18
Universal Display recently hosted its 2018 annual meeting of shareholders.
“2017 was a stellar year filled with growth, including record-high revenues, numerous new customer agreements, new OLED consumer electronic products, and the doubling of our production capabilities at PPG Industries. We also demonstrated significant R&D breakthroughs with our new and next-generation red, green, yellow and blue emissive systems and organic vapor jet printing (OVJP) technology for the manufacture of large area OLED TVs. Additionally, we expanded the Adesis footprint to support our discovery and development activities and contract research organization (CRO) business,” said Steven V. Abramson, Universal Display’s president and CEO. “We believe that we are in a multi-year OLED capex growth cycle. After a phenomenal year-and-a-half of new OLED capacity installations, 2018 is proving to be a year of capacity digestion. During this period, a number of OLED panel manufacturers continue to build new OLED production lines, which are slated to begin ramping in 2019.
“We believe that the OLED market’s growth story, and our growth story, are still in their early chapters,” Abramson added. “Since our inception in 1994, we have invested over half a billion dollars to advance our company from a start-up to a leading player in the global OLED ecosystem. Through these twenty-plus years, we have accumulated an extraordinary wealth of knowledge and know-how, further expanded our broad and deep IP matrix, and built up our R&D prowess to innovate, develop and deliver new materials and technologies to our customers. We believe that we are on the right path for long-term growth, long-term market leadership and long-term profitability.”
“2017 was a stellar year filled with growth, including record-high revenues, numerous new customer agreements, new OLED consumer electronic products, and the doubling of our production capabilities at PPG Industries. We also demonstrated significant R&D breakthroughs with our new and next-generation red, green, yellow and blue emissive systems and organic vapor jet printing (OVJP) technology for the manufacture of large area OLED TVs. Additionally, we expanded the Adesis footprint to support our discovery and development activities and contract research organization (CRO) business,” said Steven V. Abramson, Universal Display’s president and CEO. “We believe that we are in a multi-year OLED capex growth cycle. After a phenomenal year-and-a-half of new OLED capacity installations, 2018 is proving to be a year of capacity digestion. During this period, a number of OLED panel manufacturers continue to build new OLED production lines, which are slated to begin ramping in 2019.
“We believe that the OLED market’s growth story, and our growth story, are still in their early chapters,” Abramson added. “Since our inception in 1994, we have invested over half a billion dollars to advance our company from a start-up to a leading player in the global OLED ecosystem. Through these twenty-plus years, we have accumulated an extraordinary wealth of knowledge and know-how, further expanded our broad and deep IP matrix, and built up our R&D prowess to innovate, develop and deliver new materials and technologies to our customers. We believe that we are on the right path for long-term growth, long-term market leadership and long-term profitability.”